Question
On April 23, 2016 Artimis Co. paid its annual property tax bill. Artimis Co. fiscal year is also the calendar year. The annual bill is
On April 23, 2016 Artimis Co. paid its annual property tax bill. Artimis Co. fiscal year is also the calendar year. The annual bill is $840,000.
How much property tax expense should be reported in Artimis Co.'s income statement for the quarter ending March 31, 2016.
Prepare the journal entry to record Artimis Inc.'s property tax expense for the first quarter ending March 31, 2016.
Prepare the journal entry for April 23, 2016 for the payment of property taxes and proper recording of property tax expenses for the quarter ending June 30th or any prepaid property taxes as of the endof April 2016 .
Prepare the journal entry for quarter ending September 30, 2016 for the recording of property taxes expenses for the quarter.
Prepare the journal entry for quarter ending December 31, 2016 for the recording of property taxes expenses for the quarter.
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