How to make journal entry of Deffered Tax Assets and Deffered Tax Liabities
This query is : Resolved
25 December 2021
How to make Journal entry of DTA and DTL and how to show in Profit and Loss Account and Balance sheet. Please reply this quires.
03 January 2022
DTA:
Deferred tax asset Dr.
To P/L A/c
And reverse entry for liability.
In P/L, these are shown as part of 'tax expense'. In BS, there is a separate head on the assets and the liabilities side respectively.
Deferred tax asset Dr.
To P/L A/c
And reverse entry for liability.
In P/L, these are shown as part of 'tax expense'. In BS, there is a separate head on the assets and the liabilities side respectively.
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