Question
17. Ole pic draws up financial statements to 31 December each year It pays local property tax quarterly in advance. The opening prepayment on its
17. Ole pic draws up financial statements to 31 December each year It pays local property tax quarterly in advance. The opening prepayment on its local property tax account at 1 January 20X4 was 8,560. It made payments of 104,890 in the 12 months to 31 December 20X4, the last payment being an amount of 26 220 for the quarter to 31 January 20X5
For local property tax, which two of the following amounts will appear in Ole ple's ledger accounts at 31 December 20X4?
A. Prepayment 6,555
B. Prepayment 8,740
C. Prepayment 17,480
D Annual expense 104,710
E Annual expense 104.890
F Annual expense 105,070
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