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[DOC File]DRAFT FISCAL POLICIES AND PROCEDURES MANUAL
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May 14, 2008 · Deferred tax asset: Ending balance $ 10 Less: beginning balance (0) Change in balance $10. Journal entry at the end of 2006. Receivable – income tax refund ($30 + 12) 42 Deferred tax asset (determined above) 10 Income tax benefit (to balance) 52 Requirement 2
income tax payable journal entry

[DOC File]PROPERTY TAX TRANSACTIONS
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At the end of the year, Tom's Trucking has calculated its Federal Income Tax amount for the year to be $6,000. Tom's Trucking has already made Federal Income Tax payments in the amount of $4,000. How is the adjusting entry for Federal Income Tax Expense recorded in the adjustments columns on a multicolumn trial balance worksheet?
income tax expense journal entry

[DOC File]Solutions to Chapter 5 Problems
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E. Payroll Tax Deposits 10. F. Recording the Payroll Checks in the Checkbook 11. G. Payroll Records 11. ... a journal entry is made which records the purchase as an asset in the equipment account in the Unrestricted fund and credits it out of the equipment purchases account and debits it out of the fund balance account in the restricted fund.
corporate tax refund journal entry

[DOC File]'Double-Entry' Journal
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Negative current income tax expense is due to a Net Operating Loss (NOL), discussed below. Like in the positive case, either cash or a current asset account can be in the entry. The deferred component of income tax expense is the other side in the journal entry to deferred tax …
sales tax journal entry example

[DOC File]Professor Paul Zarowin - NYU Stern School of Business
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TAX: If a county code is present on a line in the class field (such as T013), the sales tax for the county and state is applied for the line: A new line is generated for the state of WI tax rate charged on fund 902, account 9224 with the line’s dept id and program.
property tax journal entry

[DOCX File]www.wsfcs.k12.nc.us
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Prepare the journal entry to record the federal tax expense and federal tax liability for Arnold Corporation. Solution: a. The $2,100 ($3,000 - $900) excess of the addition to the allowance for bad debts over the direct write-off results in a deferred tax asset of $714 ($2,100 x 34%).
journal entry for income taxes

[DOCX File]JET Journal Type Business Logic - University of Wisconsin ...
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Journal entries to record current tax levy upon certification: General Fund: ACCOUNT CODE ITEM ENTRY 10 B 713 100 000 TAXES RECEIVABLE DEBIT (INCREASE) FOR TOTAL LEVY 10 B 812 *** 000 TAX LEVIES FOR OTHER FUNDS CREDIT (INCREASE) OTHER FUND AMT 10 R 500 000 211 CURRENT YEAR LEVY CREDIT (INCREASE) FOR FUND LEVY AMT 10 R 500 000 212 TAX …
withholding tax journal entry

How to Make Journal Entries for Sales Tax | Your Business
"Double-Entry" Journal – Income Taxes . For Instructions see the Double entry Journal for Bond. Intra – Period Tax Allocation. What is the objective of financial reporting? From the point of view of the accounting establishment or the users of financial statements. From the point of view of the firm. On which statement do you find the term ...
deferred tax asset journal entry

Tax journal entry