1 - X Iron and Steel Industry and Trade Joint Stock Company of 2018 year corporate tax amount is 70.000 TL and the joint stock company has paid 50.000 TL of this amount through the bank and the remaining 20.000 TL has been covered from the prepaid tax account. Based on this information, which of the following statements is false? A) 102- The banks account has been credited with TL 50,000. B) 371- Prepaid Taxes and Other Liabilities Account of Profit for the Period 20,000 has been credited. C) 370-Prepaid Taxes and Other Liabilities of the Period Profit Hs 70.000 is debited. D) 360 Taxes Payable and Funds Account 70,000 has been credited. E) 193- Prepaid Taxes and Funds account is credited with 20.000 TL.
1 - X Iron and Steel Industry and Trade Joint Stock Company of 2018 year corporate tax amount is 70.000 TL and the joint stock company has paid 50.000 TL of this amount through the bank and the remaining 20.000 TL has been covered from the prepaid tax account. Based on this information, which of the following statements is false? A) 102- The banks account has been credited with TL 50,000. B) 371- Prepaid Taxes and Other Liabilities Account of Profit for the Period 20,000 has been credited. C) 370-Prepaid Taxes and Other Liabilities of the Period Profit Hs 70.000 is debited. D) 360 Taxes Payable and Funds Account 70,000 has been credited. E) 193- Prepaid Taxes and Funds account is credited with 20.000 TL.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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1 - X Iron and Steel Industry and Trade Joint Stock Company of 2018 year corporate tax amount is 70.000 TL and the joint stock company has paid 50.000 TL of this amount through the bank and the remaining 20.000 TL has been covered from the prepaid tax account.
Based on this information, which of the following statements is false?
A) 102- The banks account has been credited with TL 50,000.
B) 371- Prepaid Taxes and Other Liabilities Account of Profit for the Period 20,000 has been credited.
C) 370-Prepaid Taxes and Other Liabilities of the Period Profit Hs 70.000 is debited.
D) 360 Taxes Payable and Funds Account 70,000 has been credited.
E) 193- Prepaid Taxes and Funds account is credited with 20.000 TL.
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