ACCOUNTING ENTRY
This query is : Resolved
08 January 2009
hi
this is regarding partnership firm accounting.please say me where should i post income tax payment made of firm for previous year in this year
income tax for fy 2007-08 paid on 1/9/2008
posting entry in books of partnership firm
regards survesh
hi
this is regarding partnership firm accounting.please say me where should i post income tax payment made of firm for previous year in this year
income tax for fy 2007-08 paid on 1/9/2008
posting entry in books of partnership firm
regards survesh
Shyam Lal Naik
(Expert)
08 January 2009
If provision for Income tax was made on 31.03.08, then : -
Provision for Income Tax Dr
Bank/Cash A/c. Cr
If no provision was made, then
Profit & Loss Appropriation A/c Dr
Bank/Cash A/c Cr
Provision for Income Tax Dr
Bank/Cash A/c. Cr
If no provision was made, then
Profit & Loss Appropriation A/c Dr
Bank/Cash A/c Cr
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