What is the general accounting entry for prepaid taxes?

AnswerBot
20d

Prepaid taxes are recorded as an asset on the balance sheet until they are actually paid.

  • Prepaid taxes are initially recorded as a debit to the Prepaid Taxes account and a credit to the Cash account.

  • W...read more

Help your peers!
Add answer anonymously...
Dassault Systemes Financial Planning and Analysis Analyst Interview Questions
Stay ahead in your career. Get AmbitionBox app
qr-code
Helping over 1 Crore job seekers every month in choosing their right fit company
65 L+

Reviews

4 L+

Interviews

4 Cr+

Salaries

1 Cr+

Users/Month

Contribute to help millions

Made with ❤️ in India. Trademarks belong to their respective owners. All rights reserved © 2024 Info Edge (India) Ltd.

Follow us
  • Youtube
  • Instagram
  • LinkedIn
  • Facebook
  • Twitter