Computer World reports income tax expense of $230,000. Income taxes payable at the beginning and end of the year are $54,500 and $64,000, respectively. What is the cash paid for income taxes during the year?

abardeen corporation borrowed 58,000 from the bank on october 1, year 1. the note had a 4 percent annual rate of interest and matured on march 31, year 2.   interest and principal were paid in cash on the maturity date. d. what total amount of cash was paid to the bank on march 31, year 2, for principle and interest? e. what amount of interest expense was reported on the year 2 income statement?

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Required Answer each of the following questions by providing supporting computations. 1. Assume that the company’s income tax rate is 30% for all items. Identify the tax effects and after-tax amounts of the three items labeled pretax. 2. Compute the amount of income from continuing operations before income taxes. What is the amount of the income tax expense? What is the amount of income from continuing operations? 3. What is the total amount of after-tax income (loss) associated with the discontinued segment? 4. What is the amount of net income for the year?

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Use the following information for Taco Swell, Incorporated, (assume the tax rate is 22 percent): Sales Depreciation Cost of goods sold Other expenses Interest Cash Accounts receivable Short-term notes payable Long-term debt Net fixed assets Accounts payable Inventory Dividends 2020 $ 23,549 2,516 6,390 1,441 1,180 8,746 11,628 1,814 29,480 73,091 6,353 20,662 2,679 Cash flow from assets Cash flow to creditors Cash flow to stockholders 2021 $ 19,188 2,624 6,871 1,248 1,395 9,667 13,902 1,781 35,579 78,030 7,060 22,002 2,454 For 2021, calculate the cash flow from assets, cash flow to creditors, and cash flow to stockholders. (A negative answer should be indicated by a minus sign. Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.)

You have calculated the adjusted profit for the company to be $2,000,000. Capital Allowance was $20,000. The tax rate is 25%.Estimated tax paid during the year is $750,000. Employment Tax Credit available (which is nonrefundable)is $700,000. The tax refundable for this company is.a. $950,000b. $500,000c. $250,000d. $200,000

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QUESTION: Panda Inc.'s net income for the most recent year was $15,985. The tax rate was 35 percent. The firm paid $3,886 in total interest expense and deducted $2,565 in depreciation expense. What was the company's cash coverage ratio for the year?

At year-end 2002, Yung.com had notes payable of $1200, accounts payable of $2400, and long-term debt of $6000. Corresponding entries for 2003 are $1600, $2000, and $6000. Asset values are below. During 2003, Yung.com had sales of $5000, cost of goods sold of $ 400, depreciation of $100, and interest paid of $150. The (average) tax rate is 21 %, and all taxes are paid currently. The company has 100 shares of common stock outstanding with a stock price of $15 at the end of 2003. Total dividends paid is $120 in 2003. Current Asset 2002 2003 Cash $800 $500 Marketable securities 400 300 Accounts receivable 900 800 Inventory 1800 2000 Fixed Assets Net Fixed Asset ( Plant&Equipment) $6000 $2000 In 2003, the Market - value - to - Book - value ratio is %