Journalizing the two adjusting entries

Reference no: EM13122890

On July 1 of the current year, a business pays $36,000 to the city for license taxes for the coming fiscal year. The same business is also required to pay an annual property tax at the end of the year. The estimated amount of the current year's property tax allocable to July is $3,200. (1) Journalize the two adjusting entries required to bring the accounts affected by the taxes up to date as of July 31. (2) What is the amount of tax expense for July?

Reference no: EM13122890

Questions Cloud

Estimate the effective diffusivity of thiophene with hydrogn : A catalyst has a avoid fraction of 0.40, an internal surface area of 180 m2/g and a pellet density of 1.40 g/cm3. Estimate the effective diffusivity of thiophene with hydrogen

Predict the monthly labor hours : Predict the monthly labor hours required when the X-ray exposures are 56,194, the bed days are 14,077.88, and the average length of patients' stay is 6.89.

Graphs of functions in real-life : All of the graphs occur in real life. Find a real-life application of each graph. Relate the application to the specific graph (line, parabola, hyperbola, exponential).

Calculate the new temperature in celcius- tank of helium gas : calculate the new temperature in Celcius- tank of helium gas with a pressure of 270 torr at 4 degrees celcius is heated to give a pressure of 1500 torr

Journalizing the two adjusting entries : (1) Journalize the two adjusting entries required to bring the accounts affected by the taxes up to date as of July 31. (2) What is the amount of tax expense for July?

Business english : Can you tell me a little bit about Business English? How is Business English different from General English? Why is it wrong to say that Business English differs from general English only in a lexical field?

How does opportunity cost enter into the make decision : How does opportunity cost enter into the make or buy decision? What would be an example of a decision that you might make in your personal life that would involve an opportunity cost? What decision would you make and how would you change the oppor..

Find two measures of spread range-standard deviation : Calculate and post your 'answers' or interpretations of (a little bit of a review of the fundamental concepts): The three Measures of Center (Mean, Median, and Mode).

Calculate the ph of a solution : Calculate the pH of a solution made by adding 69 g of sodium acetate, NaCH3COO, to 37 g of acetic acid, CH3COOH, and dissolving in water to make 200. mL of solution.

User Account

All Pages