Question

personal income tax liability paid by petty cash of business

Answer 1

Answer:

$<I>$hello mate

Explanation:

$<b>$personal income tax liability paid by petty cash of business

$<b>$§ For a Sole Proprietor, income tax is not an expense incurred to generate revenue hence it is not treated as an expense to be paid out of profits. In this case, income tax is treated as a personal expense resulting in drawings from the business concluding to a reduction of capital.

$<marquee>$#be brainly