Question

Journal entries income tax

Answer 1

Information of sole trader

Answer 2

Income Tax

Explanation:

                             Books of (--- Limited)

                                 Journal Entry

Date         Account Title and Explanation    Debit Credit

               Income tax             A/c Dr.                 xxx

               To Cash / Bank      A/c                                  xxx

                       (Being Income tax paid by the firm)

Note: Income tax is an expense for the firm.

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