Book Show Me How Adjusting Entries for Prepaid and Accrued Taxes A-Z Construction Company was organized...

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Book Show Me How Adjusting Entries for Prepaid and Accrued Taxes 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 tares account. A-2 Construction is also required to pay in January an annual tax (on property) for the previous calendar year. The estimated amount of the property tax for the current year (May 15 December 31) is $45.000. a. Journalue the bio adjusting entries required to bring the accounts affected by the two taxes up to date as of December 31. the end of the current yea License fees Property tax What is the amount of ter expense for the current year Ok My War Book Show Me How Adjusting Entries for Prepaid and Accrued Taxes 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 tares account. A-2 Construction is also required to pay in January an annual tax (on property) for the previous calendar year. The estimated amount of the property tax for the current year (May 15 December 31) is $45.000. a. Journalue the bio adjusting entries required to bring the accounts affected by the two taxes up to date as of December 31. the end of the current yea License fees Property tax What is the amount of ter expense for the current year Ok My War