Income tax is debited to ________________

Related MCQs

• If the provision for income tax for 2013 is Rs.30,000 and for 2014 is Rs.40,000; and income tax of Rs.25,000 is paid during the year 2014 in respect of year 2013, the amount of to be debited to the Profit and Loss Adjustment Account as “Provision for Income Tax” to find out “Funds from Operation” will be
• Income tax paid by a sole proprietor from his business income should be:
• the depreciation charged on an asset is debited to
• When provision for depreciation account is maintained, the amount of depreciation is debited to
• When shares are forfeited the share capital account is debited by
• The share capital account is debited with …………while forfeiting shares
• Discount allowed on re-issue of forfeited shares is debited to :
• When shares are forfeited the share capital account is debited by
• Bills receivable as endorsed is debited to
• Bills payable honored during the year will be debited to ______