Question

Rates and taxes are credit or debit

Answer 1

Answer:

While companies still debit income tax expense and credit income tax payable, the difference between the two accounts requires an additional credit entry to the so-called deferred tax liability to balance the entire journal entries.

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Answer 2

Answer: Rates and taxes should be debited .

Explanation: Because this is an expense so follow the rule of Nominal A/c

Debit all expenses and losses

Credit all Incomes and Gains