What is the cash paid for income taxes during the year

Reference no: EM131522283

Question: 1. Wireless Solutions reports operating expenses of $885,000. Operating expenses include both rent expense and salaries expense. Prepaid rent increases during the year by $20,000 and salaries payable increases by $15,000. What is the cash paid for operating expenses during the year?

2. Computer World reports income tax expense of $240,000. Income taxes payable at the beginning and end of the year are $55,000 and $65,000, respectively. What is the cash paid for income taxes during the year?

Reference no: EM131522283

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