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What will be journal entry of provision for income tax in
current year and Adjustment entry in next year
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Answer Posted / vinay.r
FOR CURRENT YEAR WHEN PROVISION MADE
PROFIT & LOSS ACCOUNT DR. .......
TO PROVISION FOR INCOME TAX ACCOUNT ........
FOR NEXT YEAR WHEN PAYMENT MADE.
1.INCOME TAX A/C DR
TO BANK A/C
2.PROVISION FOR INCOME TAX A/C DR
TO INCOME TAX A/C
| Is This Answer Correct ? | 6 Yes | 11 No |
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