From the following items found in the trial balance of a company on 31 st December 2016
Question:
From the following items found in the trial balance of a company on 31st December 2016 and the adjustments given, show how the items would appear in the relevant accounts.
Adjustments:
(a). Income tax for 2018 has been assessed at ₹50,000, against which the advance payment of tax and tax deducted at source are to be adjusted.
(b). Provide ₹30,000 for taxation on current profits.
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