Question
Cleveland, Inc., prepares quarterly financial statements. On March 15, 2019 Cleveland, Inc., paid property taxes of $188,000 for the calendar year 2019. The necessary adjusting
Cleveland, Inc., prepares quarterly financial statements. On March 15, 2019 Cleveland, Inc., paid property taxes of $188,000 for the calendar year 2019.
The necessary adjusting journal entry at June 30, 2019 would include which of the following?
| A. | Credit Property Tax Payable $47,000 | |
| B. | Credit Prepaid property taxes $94,000 | |
| C. | Debit Property Tax expense $94,000 | |
| D. | Debit Property Tax expense $47,000 |
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Reflection On The Adaptation Of International Auditing Standards To SMEs
Authors: Mohamed Hedi Mzah
1st Edition
6204256882, 978-6204256887
