USA how to account for foreign tax paid for sub-company that has been closed out.


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During year of 2017, parent company paid foreign income tax owned to foreign government after the foreign company has been closed out, how should i account this expense on parent company's books? do i just debit in foreign income tax expense, and credit out cash? we are a manufacturing company under percentage of completion method, should this expense be absorbed in overhead cost or regular administration expense?
 
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kirby

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do i just debit in foreign income tax expense, and credit out cash?
Yes
should this expense be absorbed in overhead cost or regular administration expense?
Regular admin expense
 
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