1. Calculate the cash payment for income taxes for Markowitz Corporation based o
ID: 2456949 • Letter: 1
Question
1. Calculate the cash payment for income taxes for Markowitz Corporation based on the following information: income tax expense $93,000, $8,000 decrease in federal income taxes payable and $10,000 increase in state income taxes payable during the year. $91,000$85,000
$83,000
$75,000 .2. During the year Sibila Company increased its inventory by $75,000, cost of goods sold was 105,000, and accounts payable decreased by $11,000. Calculate the company's cash payments to suppliers. $86,000
$116,000
$180,000
$191,000 3. Martinez, Inc. had the following information: cash sales $700,000, credit sales $1,350,000, and accounts receivable decreased by $50,000 for the year. Calculate how much money the company had received from its customers. $2,000,000
$2,100,000
$2,050,000
$2,000,000 4. Cruz Trading's beginning and ending balance accounts receivable for the year were $30,000 and $200,000 respectively, while the credit sales were $825,000. Calculate the cash collections from customers for the year. $655,000
$625,000
$595,000
$555,000 .5. Bauer International's salaries payable decreased by $17,000 during the year. Calculate the cash paid to employees if salary expense was $215,000 for the year. $198,000
$215,000
$232,000
$250,000 1. Calculate the cash payment for income taxes for Markowitz Corporation based on the following information: income tax expense $93,000, $8,000 decrease in federal income taxes payable and $10,000 increase in state income taxes payable during the year. $91,000
$85,000
$83,000
$75,000
Explanation / Answer
1. Calculate the cash payment for income taxes for Markowitz Corporation based o
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