Suppose net income for 2019 is $200,000 and the income tax rate is 0.15. The...
50.1K
Verified Solution
Link Copied!
Question
Accounting
Suppose net income for 2019 is $200,000 and the income tax rate is 0.15. The amount of income tax is due and not yet paid. The adjusting entry should be
a.
Debited to income tax payable 30000
b.
Credited to income tax expense 30000
c.
Credited to sales tax payable 30000
d.
Debited to sales tax payable 30000
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
- Unlimited Question Access with detailed Answers
- Zin AI - 3 Million Words
- 10 Dall-E 3 Images
- 20 Plot Generations
- Conversation with Dialogue Memory
- No Ads, Ever!
- Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Other questions asked by students
StudyZin's Question Purchase
1 Answer
$0.99
(Save $1 )
One time Pay
- No Ads
- Answer to 1 Question
- Get free Zin AI - 50 Thousand Words per Month
Best
Unlimited
$4.99*
(Save $5 )
Billed Monthly
- No Ads
- Answers to Unlimited Questions
- Get free Zin AI - 3 Million Words per Month
*First month only
Free
$0
- Get this answer for free!
- Sign up now to unlock the answer instantly
You can see the logs in the Dashboard.