- This topic has 1 reply, 2 voices, and was last updated 1 year ago by .
Viewing 2 posts - 1 through 2 (of 2 total)
Viewing 2 posts - 1 through 2 (of 2 total)
- You must be logged in to reply to this topic.
Congratulations to Jamil from Pakistan and Jeeva from Malaysia - Global Prize winners!
see all ACCA December 2022 Genius Hunt Competition winners >>
Specially for OpenTuition students: 20% off BPP Books for ACCA & CIMA exams – Get your BPP Discount Code >>
Forums › ACCA Forums › ACCA TX Taxation Forums › provision for tax account
question : from the below information derive the closing balance of provision for income tax
account if opening balance is 500.
last year tax paid 400.
advance tax paid for current year 2000.
net tax payable for current year 1500
my working : provision for tax account
500-cr
400-dr
2000-dr
1500-cr
cl. bal. (400)cr
but the options are : 1500 , 3500 , 5100 , 1600
here I don’ t understand advance tax paid for CY is an asset or liability?
Sir please solve. Thanks
This forum is primarily designed for students to help one another. If you want the tutor to answer directly please use the following forum-
https://opentuition.com/forum/ask-acca-tutor-forums/ask-the-tutor-acca-taxation-tx-uk-exams/
Hope this helps.