The unpaid amount of income taxes due to the government for a given year are found on the
A)balance sheet in the account Deferred Income Taxes.
B)balance sheet in the account Income Taxes Payable.
C)income statement in the account Income Tax Expense Current.
D)income statement in the account Income Tax Expense DeferreD.

Question

Quizplus · Accepted Answer

The unpaid amount of income taxes due to the government for a given year are found on the balance sheet in the account Income Taxes Payable. This account represents the amount of income taxes that the entity owes to the government but has not yet paid. It is a current liability account on the balance sheet.

The Unpaid Amount of Income Taxes Due to the Government