The adjusting entry to record income taxes at the end of an unprofitable accounting period consists of a:
A) Debit to Income Tax Expense and a credit to Income Tax Payable.
B) Credit to Income Tax Expense and a debit to Income Tax Payable.
C) Credit to Income Tax Receivable and a debit to Income Tax Expense.
D) No adjusting entry is required for income taxes if there are no profits.

Question

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The Answer of The adjusting entry to record income taxes at the end of an unprofitable accounting period consists of a:
A) Debit to Income Tax Expense and a credit to Income Tax Payable.
B) Credit to Income Tax Expense and a debit to Income Tax Payable.
C) Credit to Income Tax Receivable and a debit to Income Tax Expense.
D) No adjusting entry is required for income taxes if there are no profits.

The Adjusting Entry to Record Income Taxes at the End