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Can you deduct an accrued loss contingency for tax purposes?
no
Is accrued income effect Profit and Loss Account?
yes it do effect it should be credited in your profit and loss a/c
Which contingent liability is normally accrued?
Usually accrued Loss related to: 1) collectibility of receivables 2) obligations related to product warranties and product defects 3) premiums offered to customers
Journal entry for accrued income?
[Debit] Accrued income receivable [Credit] Accrued income
What is the journal entry accrued income?
[Debit] Accrued income receivable [Credit] Accrued income
What is the meaning of accrued?
of Accrue
How does loss before income tax affect accrued expenses?
loss before income tax affect accrued expenses is to avoid the billing of credit
Can you deduct an accrued loss contingency for tax purposes?
no
Is accrued income effect Profit and Loss Account?
yes it do effect it should be credited in your profit and loss a/c
Are property taxes prepaid or accrued?
Property taxes are typically accrued, meaning they are recorded as an expense when they are incurred, rather than prepaid in advance.
Which contingent liability is normally accrued?
Usually accrued Loss related to: 1) collectibility of receivables 2) obligations related to product warranties and product defects 3) premiums offered to customers
What is the meaning of accruting?
* periodically accumulated over time; "accrued interest"; "accrued leave" * That which has accumulated over a period of time such as accrued depreciation, accrued interest or accrued expenses. * The total income that remains after all the costs (expenses, taxes, etc.) have been deducted. * grown to maturity * Accumulated, as interest due and unpaid.
Journal for Accrued income?
[Debit] Accrued income receivable [Credit] Accrued income
What is the meaning of loss making company?
what is the meaning of loss making company
Journal entry for accrued income?
[Debit] Accrued income receivable [Credit] Accrued income
What is the journal entry accrued income?
[Debit] Accrued income receivable [Credit] Accrued income
What is the entry of accrued traveling expenses?
[Debit] Accrued traveling expenses [Credit] Accrued expenses payable
