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WHAT IS etd payable?
ETD payable = Employer Tax Deductions Payable
How do you post sales tax payable as journal entry?
debit sales tax expensecredit sales tax payable
Is tax payable a debit or credit?
Tax payable is typically classified as a liability on the balance sheet, which means it is recorded as a credit. When a business incurs a tax obligation, it increases its tax payable account with a credit entry. Conversely, when the tax is paid, the tax payable account is debited to reflect the decrease in the liability.
What is Pst payable accounting?
it is other taxes payable like hormonised sales tax. It is not Income Tax or corporate Tax.
What is the journal entry for payroll tax?
Debit Payroll tax Expense Credit Payroll tax payable debit Payroll tax payable Credit Cash / bank
WHAT IS etd payable?
ETD payable = Employer Tax Deductions Payable
How do you post sales tax payable as journal entry?
debit sales tax expensecredit sales tax payable
Is tax payable a debit or credit?
Tax payable is typically classified as a liability on the balance sheet, which means it is recorded as a credit. When a business incurs a tax obligation, it increases its tax payable account with a credit entry. Conversely, when the tax is paid, the tax payable account is debited to reflect the decrease in the liability.
What is Pst payable accounting?
it is other taxes payable like hormonised sales tax. It is not Income Tax or corporate Tax.
What is a FIT payable?
It stands for federal income tax payable.
Is income tax payable in jammu and kasmir?
yes income tax is payable in jammu and kashmir if the person is the resident of it.
What is the journal entry for payroll tax?
Debit Payroll tax Expense Credit Payroll tax payable debit Payroll tax payable Credit Cash / bank
What was danegold?
"Danegelde" (Dane's Gold) was a form of tax payable to the Vikings as protection money. It saved the land from being ravaged
Is tax payable on income an expense?
Taxes are payable on income less expenses
Is money received from a pod account federally taxable?
Yes, money received from a pod (payable on death) account is generally considered taxable income if it exceeds the annual gift tax exclusion amount. However, the beneficiary does not typically owe income tax on the funds received from the account, as they are treated as a direct transfer of assets. It's important to consult a tax professional for specific situations, as tax implications can vary based on individual circumstances.
Where does sales tax payable on the balance sheet go?
Sales tax payable is a current liability and is presented on the credit side of the balance sheet-
How do they relate to the difference between tax expense and taxes payable?
Tax expense is the expense of current period while tax payable is that amount which Is payable to the tax authorities these two amounts may be same or there may be difference due to less or more payment in previous period or any deferred tax in current period.
