Respuesta :
It's like a type of a account in the current liabilities section of a company's um I think balance sheet.
A liability is basically something you owe someone.Your reliable for paying that someone back correct?
Tax Payable is a liability.But what exactly is tax payable?
Well its a "tax" you have to pay to the federal government and you have a year to do so.
*If you are taking accounting the tax payable is on the balance sheet, (the income Statements side to be exact)
Hope this helped :)
Tax Payable is a liability.But what exactly is tax payable?
Well its a "tax" you have to pay to the federal government and you have a year to do so.
*If you are taking accounting the tax payable is on the balance sheet, (the income Statements side to be exact)
Hope this helped :)
