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An excess of income taxes expense over income taxes payable for a period is associated with?
a credit to deferred income taxes payable
Is tax payable on income an expense?
Taxes are payable on income less expenses
What are payables?
Accounts payable or "payables" are those amounts of money that a business must put aside to be paid for on-going debts.Accounts payable are listed under Liabilities in the company's Balance Sheet.Examples of accounts payable include:Sales taxes payable - sales taxes collected from customers that must be paid to the state department of revenuePayroll taxes payable - amounts withheld from employee pay for income taxes andemployment taxes, and amounts owed by the employer for that payroll and which must be paid to the IRS for withholding and FICA taxesLoans payable and mortgages payable - total amounts due, and amounts currently due for loans and mortgages
Journal entry to accrue for taxes?
Debit accrued taxesCredit taxes payable
Is FUTA taxes payable a current liability?
Yes, FUTA taxes payable is a current liability. Current liabilities are those that are due within one year.
What is the journal entry for accrued use tax?
debit taxes expense and credit taxes payable
What does it mean to pay property taxes in arrears?
Payment of property taxes in arrears means that the taxes are actually assessed, or considered payable and due, when the year that they cover is past or almost over. An example of this is if your taxes are due/payable in October but the taxes are for the period of January to December of the same year.
What is Pst payable accounting?
it is other taxes payable like hormonised sales tax. It is not Income Tax or corporate Tax.
Are federal taxes payable on disability payments?
Yes this could be possible.
Do you include income taxes payable for calculating working capital calculation?
No
A nation's income from taxes duties licenses etc?
product
Where does the money collected from the sale of licenses and taxes of gasoline go?
schools
