Answer Posted / shiva
taxes paid should be shown in the P & L a/c. and Provisions
also should be shown in the debit side of the Profit & Loss
a/c. at the same time these provisions should be effect on
the Laibility side of the Balance Sheets. Income Tax and
and Other Taxes might be shown when you prepared Profit &
Loss Appropriation A/c.
Is This Answer Correct ? | 2 Yes | 0 No |
Post New Answer View All Answers
capital goods purchased from Singapore. payment made by bank in rupees. but the invoice value is in USD, How to make purchase entry in tally?
Please let me know Under head of Sales Advance?
List out some of the examples for liability accounts?
What are the four classifications of bad and doubtful debts as per the context of the bank?
What are time sheets? How are they maintained?
We have purchased some good from our vendor and we asked them to transport the same to some address but they have raised a debit note to us for transportation instead of invoice. Same like we have given some order to manufacture for developing that product they have charged some amount for that also they have raised the debit note. How to account these type of debit notes in tally..?
What are its characteristic features of financial accounting?
if company having a loss consecutive last more than 2 years, Depreciation on equipment should be appear in profit and loss a/c or pass the provision entry every unless company not recover profit. Please explain.
Do is it proper fo an engineer to head a bank without a good backgroud in accounting? ?
Who is considered the father of accounting?
What are the AP accounting entries for EXPENSE ITEM VS Inventory Item in oracle ERP
What are the nine accounting cycles?
What is the master account?
Other accounting interview questions to expect when you interview for an accountancy job include:
what role did you play in collections?