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-   -   Debits and credits (https://www.askmehelpdesk.com/showthread.php?t=309111)

  • Jan 26, 2009, 07:09 PM
    fpsb
    Debits and credits
    What are Common Stock Dividends Distributable increased by?

    What are Income Taxes Payable increased by?
  • Jan 26, 2009, 10:49 PM
    codyman144

    What do you think? At least try to answer the question first...
  • Jan 27, 2009, 01:02 PM
    fpsb

    I think both are increased by a debit.
  • Jan 27, 2009, 01:50 PM
    codyman144

    Both are Liabilities, does that change your answer?
  • Jan 27, 2009, 05:47 PM
    fpsb

    They are increased by a credit
  • Jan 27, 2009, 05:52 PM
    codyman144

    So if you were to book the entry for income taxes payable what would it be?

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