Hi,
I would like to check if my understanding is correct
I have a negative amount for provision of income tax in my balance sheet from my previous financial year.What are the accounting treatments for income tax paid and then refunded to you for the current year?
Is this correct?
For payment
Dr provision of income tax
cr bank
For tax refund
Cr provision of income tax
Dr bank
Do I need to input anything in income tax expense acct?
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Hi, I attended an interview recently for the post of Accountant, where I underwent a account test. Now I got selected for the second round interview. I am sure that in the interview, they will review my test result. If I had made some mistakes in the test, how should I answer them?
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