0
Add your answer:
Earn +20 pts
What is the accounting entry for the Provision of Income Tax?
dr. income tax expense cr. income tax payable
With respect to prepaid income from services is the treatment of prepaid income the same for tax and financial accounting?
No - for financial accounting it is treated as deffered income (included in income when earned) and for tax perposes it is income in the year received.
What are the accounting journal entries to record income tax payments?
debit income tax paidcredit cash
What is the Journal entry for income tax paid?
income tax payable Dr ,Bank Cr.
What are the entry level jobs in accounting?
There are a lot of area that you can look for work when you are doing a search for accounting jobs. You will want to search; accounting, entry-level, finance, tax, marketing, business and different sections like that.
What is the accounting entry for the Provision of Income Tax?
dr. income tax expense cr. income tax payable
What has the author Charles Heinrichs Langer written?
Charles Heinrichs Langer has written: 'Examination coaching course' -- subject(s): Accounting, Problems, exercises 'Walton federal income tax accounting and procedure, 1938' -- subject(s): Accounting, Income tax 'Federal tax course' -- subject(s): Accounting, Income tax, Tax accounting
With respect to prepaid income from services is the treatment of prepaid income the same for tax and financial accounting?
No - for financial accounting it is treated as deffered income (included in income when earned) and for tax perposes it is income in the year received.
What are the accounting journal entries to record income tax payments?
debit income tax paidcredit cash
What is the Journal entry for income tax paid?
income tax payable Dr ,Bank Cr.
Entry for Provision for Income Taxes?
You will need two accounts: Income tax expenses (an expense account, obviously) Provision for income tax (a liability account) You will simply: debit provision for income tax credit income tax expenses When actually paying income tax, you will: debit cash credit provision for income tax
What are the entry level jobs in accounting?
There are a lot of area that you can look for work when you are doing a search for accounting jobs. You will want to search; accounting, entry-level, finance, tax, marketing, business and different sections like that.
True Taxable income is a tax accounting term and is also referred to as income before taxes?
yes
What is Pst payable accounting?
it is other taxes payable like hormonised sales tax. It is not Income Tax or corporate Tax.
What has the author Joseph A Mauriello written?
Joseph A. Mauriello has written: 'Intermediate accounting' 'Techniques in Cosmetic Eyelid Surgery' 'Fundamentals of cost accounting' -- subject(s): Cost accounting 'The Irwin Federal income tax course' -- subject(s): Accounting, Corporations, Income tax, Law and legislation, Taxation
What if income tax provision is higher than deferred income tax?
You may not understand what your asking, in provision and "tax" are 2 different things. Provision is a purely accounting (GAAP) term. it has nothing to do with IRS tax really. It isn't even part of IRS vernacular really. An Income Tax Provision basically has 2 components; Deferred Tax Provision & Current Tax Provision. (Some ancillary accounting lines may have to do with credits and tax effect of state tax deduction for example). The total income tax provision is the combination of the 2. If current tax provision is higher than deferred tax provision, than the deferred tax provision is a tax benefit. A very common thing that happens when tax accounting requires a provision be recorded for income recorded for GAAP before it is income for tax.
Income tax payable journal entry?
I believe there are many more pleasurable opportunities ahead for individuals that looked at your site accountant in Chennai.
