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Refund entries - vat, cst, income tax, ap

Cost Accounts 798 views 1 replies
HELLO FRNDS, I AM LOOKING FOR THE FOLLOWING ACCOUNTING ENTRIES ANSWERS :- 1. VAT REFUNDABLE 2. INCOME TAX REFUNDABLE 3. CST REFUNDABLE 4. ADVANCE PAID TO CR'S REFUNDABLE 5. SERVICE TAX REFUNDABLE 6. INCOME TAX ACCURED 7. AND OTHER REFUNDABLE ENTRIES.. 8. SOME EXAMPLE OF IMPORTANT ADJUSTMENT ENTRIES MADE AFTER PREPARING THE TRIAL BALANCE.. PLEASE HELP ME OUT WITH THE ABOVE ANSWERS THANKS AND REGARDS SUVO
Replies (1)

All taxes refundable means it is receivable amounts to the organisation. so All receivable amounts are treated as current assets. so debit the concerned refudable a/c and credit the concerned tax authorities department


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