Month: May 2022

Journal Entry For Income Tax Payable

At the end of the accounting period the business needs to accrue the estimated income tax expense due the accrued income tax payable journal entry is as follows. Debit increase Provision for Income Taxes an expense on your income statement Credit increase Income Taxes Payable a currently liability on your balance sheet Then when you […]

Income Statement Ratios Pdf

2528 EBITDA 16342 Sales 155. Current Ratio An important concern about any company is its liquidity or ability to pay its debts in the short run. Statement of Cash Flow The statement of cash flow shows all sources and uses of a companys cash during the accounting period. That is the major objective of this […]