Income Tax Balance Brought forward 10,000 Dr in the TB and in additional Information Income Tax 135,000, What are the correct Entries?
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Advance Accounting
5y ago#1Assuming no other information, the tax charge will be debited to the income tax account and credited to income tax payable account. This will result in an expense in the SOPL of 136,000 and a liability in the SOFP of 135,000.
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