Tax Payable
Tax payable is a liability that represents the amount of taxes a business owes to the government but has not yet paid. It includes income tax, sales tax, and payroll-related taxes. This account is crucial for accurate financial reporting and timely tax compliance.
More Items
Treasury Stock
Treasury stock refers to a company’s own shares that were issued and later repurchased from shareholders. These shares are held…
Turnover
Turnover refers to the total revenue generated by a business during a given period. In some regions, it’s used interchangeably…
Temporary Account
Temporary accounts track financial activity for a specific period and are closed at period-end. Examples include revenue, expense, and dividend…
This website uses cookies to improve your experience. You can accept all or reject non-essential cookies.