What will be the journal entry of provision for income tax
in the financial year .
Answers were Sorted based on User's Feedback
Answer / ankush rawat
P & L Appropriation A/c ..........Dr.
To Provision for income tax A/c
| Is This Answer Correct ? | 157 Yes | 15 No |
Answer / brahmam
income tax a/c
to provision for income tax a/c
| Is This Answer Correct ? | 28 Yes | 12 No |
Answer / abhishek
p/l a/c ......... dr
to provision for income tax
| Is This Answer Correct ? | 17 Yes | 5 No |
Answer / shreenivas dushi
Income tax (expenses)A\c...Dr
To Provision for Income tax A\c.
| Is This Answer Correct ? | 22 Yes | 13 No |
Answer / tunde
on prov
dr p&l appropriation
cr prov for tax
on payment
dr prov for tax
cr cash/bank
| Is This Answer Correct ? | 14 Yes | 7 No |
Answer / sapna agarwal
profit & loss A/C Dr
To provision for tax A/C
(being provision created for the financial year)
| Is This Answer Correct ? | 5 Yes | 0 No |
Answer / mehtab ahmad
1. income tax a/c dr. (amount)
to provision for income tax a/c
2.p&l a/c dr. (amount)
to income tax a/c
or
p&l a/c dr.
to provision for income tax
| Is This Answer Correct ? | 5 Yes | 0 No |
Answer / ravinder attri
Income Tax (Exp.) A/c Dr.
To Provision for Income Tax
(But we will add Income tax (exp.) A/c in Profit while
computing Income tax on profit.)
| Is This Answer Correct ? | 5 Yes | 1 No |
Answer / shyam singh rana
P & L Appropriation A/c ..........Dr.
To Provision for income tax A/c
| Is This Answer Correct ? | 3 Yes | 0 No |
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