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How do you record unpaid income taxes?
JNDJTT
Jun 9, 2012, 01:18 PM
Income taxes related to 2011 are unpaid at year end. How do you record this?
paraclete
Jun 9, 2012, 04:11 PM
Income taxes related to 2011 are unpaid at year end. How do you record this?
A provision is created for this liability so you debit income tax expense and credit the provision for income tax