MyQuestionIcon

1

You visited us 1 times! Enjoying our articles? Unlock Full Access!

Changes in Outstanding Expenses

Income Tax ap...

Question

Income Tax appears in trial balance ____________ column.

A

debit balance

Right on! Give the BNAT exam to get a 100% scholarship for BYJUS courses

B

credit balance

No worries! We‘ve got your back. Try BYJU‘S free classes today!

C

L.F.

No worries! We‘ve got your back. Try BYJU‘S free classes today!

D

none of these

No worries! We‘ve got your back. Try BYJU‘S free classes today!

Open in App

Solution

The correct option is A debit balance
Income tax is a payment and expenses. Expense are always debited. Hence Income tax appears in trial balance debit column.

Suggest Corrections

thumbs-up

0

Similar questions

Q. Income tax paid by a proprietor

R s .3, 000

appearing in the Trial balance ______________.

Q. Which of this A/c appearing in trial balance is NOT transferred to income statement?

Q. 'Wages outstanding' is appearing in the trial balance of a company. While preparing Income Statement and Balance Sheet, Wages Outstanding should appear in __________________.

Q. Fill in the blanks with correct alternative and rewrite the statements :

Income Tax appears in trial balance ________ column.
a) debit balance
b) credit balance
c) L.F.
d) Income

Q. Depreciation A/c appearing in the trial balance will ___________.

View More

Join BYJU'S Learning Program

similar_icon

Related Videos

lock

Let’s Solve the Puzzle

ACCOUNTANCY

Watch in App

explore_more_icon

Explore more

Changes in Outstanding Expenses

Standard XII Accountancy

Join BYJU'S Learning Program

CrossIcon