Answer Posted / umesh
it may contains all residual accounts mainly real and
nominal accounts
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What are write off entries to be passed say if im having payable of Rs. 400 standing in the balance sheet and I want to write it off...
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Comments Elements in accounting
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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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