journal entry in the books of firm for inc. tax liability ?
This query is : Resolved
16 July 2011
m/s. ab & co. is a partnership firm. psr is 1:1.
income tax libility of firm for f.y.10-11 comes to Rs.100000/-. it is paid on 16/07/2011.
what will be the journal entry in the books of firm on 31/03/2011 & 16/07/2011.
urgently waiting for ur reply.
abhipcc@rediffmail.com
income tax libility of firm for f.y.10-11 comes to Rs.100000/-. it is paid on 16/07/2011.
what will be the journal entry in the books of firm on 31/03/2011 & 16/07/2011.
urgently waiting for ur reply.
abhipcc@rediffmail.com
16 July 2011
31-03-2011
income tax provision a/c dr
to income tax payable
16-07-2011
income tax payable a/c dr
to cash / bank
income tax provision a/c dr
to income tax payable
16-07-2011
income tax payable a/c dr
to cash / bank
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