A-Z Construction Company was organized on May 1 of the current year. On May 2, A-Z Construction prepaid $18,480 to the city for taxes (license fees) for the next 12 months and debited the prepaid taxes account. A-Z Construction is also required to pay in January an annual tax (on property) for the current calendar year of $45,000.
Required: a. Journalize the two adjusting entries required to bring the accounts affected by the two taxes up to date as of December 31, the end of the current year. Refer to the Chart of Accounts for exact wording of account titles. b. What is the amount of tax expense for the current year?
Answers: 1
Other questions on the subject: Business
Business, 21.06.2019 14:40, aliviafrancois2000
Castillo corporation, a manufacturer, reports costs for the year as follows: direct materials used $735,000 wages to line workers 510,000 office rent 26,000 indirect materials used 700,000how much is the total period costs for castillo? $735,000 $510,000 $26,000 $700,000
Answers: 3
Business, 22.06.2019 06:20, kingyogii
At a small store, a customer enters the front door on average every 8 minutes. a prior study indicated that the time between customers entering the front door during weekdays follows an exponential distribution. what is the probability that the time between customers entering the store on a weekday will be less than or equal to 7? select one: a. 62 b. 43 c. 1/8 d. 7/8 e. 58
Answers: 1
Business, 22.06.2019 20:30, maguilarz2005
Contrast two economies that transitioned to capitalism and explain what factors affected the ease kf their transition as welas the “face” of capitalism that each has adopted
Answers: 2
Do you know the correct answer?
A-Z Construction Company was organized on May 1 of the current year. On May 2, A-Z Construction prep...
Questions in other subjects:
English, 23.01.2021 06:50
English, 23.01.2021 06:50
Mathematics, 23.01.2021 06:50
Mathematics, 23.01.2021 06:50
Mathematics, 23.01.2021 06:50
