What will be journal entry of provision for income tax in
current year and Adjustment entry in next year

Answer Posted / k.kavitha

Provision entry for current Year
Income Tax A/c ----Dr
To Income Tax Payable A/c

Adjustment entry in next Year
Income tax payable---Dr
To bank A/c

Is This Answer Correct ?    224 Yes 56 No



Post New Answer       View All Answers


Please Help Members By Posting Answers For Below Questions

Can you send me advertisement format for lost of E-1 form. kindly do the needful urgently. Thanks AP

1494


What is ppe in accounting?

614


GOODS LOST BY FIRE 100 RS, INSURANCE MONY RECEIVED 120,40 PENDING FOR FINAL SETTLEMENT- Journal Entry

1777


How to make a entry in tally for Land & Building Purchased for RS.1,65,00,000/-(Total Consideration)Paid Installment wise as 30 lakh,10 lakh,20 lakh & 1,30,87,500

37704


Who is considered the father of accounting?

690






Explain me your current/former role, your responsibilities, and how success is/was measured?

576


The following are the list of Balances of SUNSHINE Company as at 1.2.2012 RM Land and building 450,000. Furniture and Fittings 35,000. Office Equipment 25,000. Motor Vehicles 75,000. Inventory 5,000. Trade Receivables 12,000. Trade Payables 8,000. Bank Loan 200,000. Bank 13,000. Cash in Hand 1,000. Capital 408,000.

1388


Follow up ageing balances of Debtors & Creditors and also Inventory

1633


What does the standard journal entry includes?

604


Please describe your experience in inventory reporting & valuation including reconciliation of inventory accounts.

1593


sir i want to know that where we taken entry of sals return in excise in manufecturing unit tell me .

1668


my assessment says that I must post a dishonoured cheque in the general journal not a specialised journal how would I write that I know bank would be credited but what account would be debited???

954


I WRITE GROUP-4 EXAMINATION.I STADIYING INTERMEDET HOW MANY PARSANTEGE OF GROUP-4 EXAMINETIN

2551


What is the meaning of scrap value in accounting?

711


If closing stock is given in adjustments, how we show in tally 9.0 ?

1595