Restaurant
Corporate Income Tax Provision
Accruing the estimated income tax on the restaurant's annual profit.
| Account Name | Type | Debit ($) | Credit ($) |
|---|---|---|---|
| Income Tax Expense | Expense (+) | 3,500.00 | - |
| Income Tax Payable (ISTD) | Liability (+) | - | 3,500.00 |
💡 Accountant's Note
Income tax is accrued at year-end based on taxable profit. The actual payment to the ISTD may happen months later but the expense belongs to the current fiscal year.
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