Answer Posted / anees mt

1.At the time of Creation of provision for income tax in previous year for coming year.


Profit & Loss A/c Dr.
To Provision for Income tax
2.At the time of Actual Income Tax Calculated.


provision for Income tax A/c Dr.
To Income Tax

3.At The time of Payment .

Income Tax A/c Dr.
To Bank

What are the accounting events that are frequently involved in compound entries?

676

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What happens to the company's "cash account" if it borrows money from the bank by signing a note payable?

669

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What is control in accounting?

581

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What are the two most important Factor that should be kept in mind when there is a buy back of shares in companies as per indian companies act,1956

1641

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The main financial accounting statements?

651

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What is the difference between Open Items and Reconciling Items on a Balance Sheet Reconciliation?

8169

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SHADOW BALANCE SHEET

12881

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Hello Sir, My Name is Shoaib, I am Novice in Accounting Field. I want to learn the simple & step by step, procedure to final my company account. Please Help

1452

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professional tax payment for april 2017 paid from ranbeers credit card what are the expesses booking entry in tally

1028

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payment voucher for advance salary

950

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What is tally and its features?

682

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My question is on Opening & Closing Stock Suppose Closing stock of 2014-15 is Rs 30 lakhs & Also we filed return & ROC too for 2014-15. Opening stock for 2015-16 should be Rs 30 lakhs but we found that some purchase for feb & March 2015 Stock has been entered in tally Its taken directly to purchase split of stock not made & in sales to same of 2 lakhs no split of stock is shown. Those stock need to make changes in 2015-16 what was the process ? And what will be adjustment entry ?

1173

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In accounting, are assets a permanent account?

666

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suppose we received goods from H.O.The sisterconcern received it.wat will be the entries if tge S.C.sells it from here.

1744

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what is accounting cycle ?

4768

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