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BTIncome Tax T A/C Missing Paid figure workings

JJack6y ago
Good Evening, John. This maybe really simple, but I have spent enough time trying to figure it out! I usually use T a/c for my workings as I find them easier and they work for me, anyhow, the problem is I don't understand how they come to find the figure for Tax Paid within the Year. I have both Bpp and Kaplan revision books, but still no success. I am trying to find out for the Cash flow statement the Income Tax paid. In one example we have B/D Cr 240 C/D Dr 290 In the workings we have B/D 240 Cr Statement PL 240 Cr Carried down 290 Dr and the missing Tax paid figure of Tax Paid 190 Dr Now, I know how T A/C work, I'm just struggling how they filled in the other figures. I looked at another example of a working Tax B/f 2,310 Charge for the year 2,900 Cash Paid (missing) (2310) C/F 2900 If I could see these fit into a T a/c for my own logic it would help, Thanks in advance
JJack6y ago#1
Am i right in thinking we just CR with the Tax expense for the year, and then balance the account, with the plugin figure?
JJack6y ago#2
Just re watched your video lecture "Statements of cash flow part B" all is clear now, Thanks again.
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