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What is the Journal entry for income tax paid?
income tax payable Dr ,Bank Cr.
Why journal entry necessary for tax?
because tax is paid to tax authorities and that transaction also need to show.
What is the journal entry for bill received?
There is no journal entry for bill received rather journal entry is made when bill is actually paid or when utility is actually utilized.
How do you made a journal entry for loan repayment schedule?
There is no journal entry for loan repayment schedule rather journal entry is made when actual payment is done or installment is paid.
What is an accrual journal entry?
Accrual journal entry means that entry the transaction of which is occurred already but payment is not yet received or paid to other party.
What is the journal entry if i received 10000 as a interest income and 10 percent percent advance income tax paid?
debit cash 9000debit tax 1000credit interest income 10000
What is tax colleducted at source journal entry?
debit cash / bankcredit tax payable
What is the opening journal entry for paid up capital?
capital
What is THE journal entry to record paid in capital?
Debit cash / bankCredit paid in capital
How do you post sales tax payable as journal entry?
debit sales tax expensecredit sales tax payable
What is the journal entry of paid to David on behalf of Andrew?
Journal entry is as follows: [Debit] David A/c xxxx [Credit]Andrew A/c xxxx
What is the journal entry of interest paid?
Debit interest expenseCredit cash
