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income tax payable Dr ,Bank Cr.
debit sales tax expensecredit sales tax payable
dr. income tax expense cr. income tax payable
Debit Payroll tax Expense Credit Payroll tax payable debit Payroll tax payable Credit Cash / bank
Debit FUTA Tax Expenses xxxx Credit FUTA Tax Payable xxxx
income tax payable Dr ,Bank Cr.
debit sales tax expensecredit sales tax payable
dr. income tax expense cr. income tax payable
debit cash / bankcredit tax payable
Debit Payroll tax Expense Credit Payroll tax payable debit Payroll tax payable Credit Cash / bank
debit taxes expense and credit taxes payable
Debit FUTA Tax Expenses xxxx Credit FUTA Tax Payable xxxx
To create a journal entry for recording an income tax refund, debit the cash account for the amount of the refund received and credit the income tax refund account. This will accurately reflect the increase in cash and the corresponding decrease in the income tax refund liability.
Debit payroll expenseCredit cashcredit federal tax payablecredit state tax payable
Debit cashCredit interest income
Taxes are payable on income less expenses
yes income tax is payable in jammu and kashmir if the person is the resident of it.