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Classification of Current Liabilities: 6 Types
WebExecutive (Accounts) PRAN-RFL Group Duties/Responsibilities: 1. Maintain bank book, general ledger book, party ledger book, subsidiary ledger of bills receivable and bills payable to keep records of expenditures and closing cash books on daily basis. 2. Maintain factory daily transactions. 3. Checking monthly salary, wages, OT, increment & final settlement of … WebMar 15, 2024 · If the Income Tax Liability of any taxpayer is more than Rs. 10,000 in a financial year, then he is liable to pay such tax in installments during the year itself rather than paying this tax at the end of the year.This tax which is payable during the year is called “Advance Tax” or “pay as you earn tax” as the tax is liable to be paid at the time the … WebThe Debiting of Salaries Payable in the above Journal Entry removes the Salary Payable Liability on the Balance Sheet. There is a Salaries Expense Debit entry because, during the … barbara moran il