Provision for tax
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
08 October 2013
Last year short provision of tax was made.
how to correct it in this year.
whether the following entry is correct if not please provide the correct entry:
debit tax expenses (as prior period) and credit to provision for tax payable.
how to correct it in this year.
whether the following entry is correct if not please provide the correct entry:
debit tax expenses (as prior period) and credit to provision for tax payable.
08 October 2013
Yes, it is correct
.
.
Dr.prior year taxes(p&l)
Cr.Provision for tax
.
.
Dr.prior year taxes(p&l)
Cr.Provision for tax
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