Answer
Calculation of amount of cash payments made for income taxes during 2010:
Cash payments for income taxes:
Income tax payable as on January 1.2010 - 227,000,000 dollars
Income tax for the year 2010 - 370,000,000 dollars
Total payable for the year - 647,000,000 dollars
Less: income tax payable as on December 31,2010 - (522,000,000 dollars)
Cash payments made during in 2010 - 125,000,000 dollars
Work Step by Step
The table indicates about the calculation of amount of cash payments for income taxes for 2010
