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MCS,PHD
Argosy University/ Phoniex University/
Nov-2005 - Oct-2011
Professor
Phoniex University
Oct-2001 - Nov-2016
Property Taxes Family Practice Associates has an estimated property tax liability of $7,200 assessed as of January 1, 2010, for the year May 1, 2010, to April 30, 2011. The property tax is paid on September 1, 2010. The property tax becomes a lien against the property on May 1.
Required
Prepare the necessary monthly journal entries to record the preceding information for the period from May 1 to September 30, 2010 (assuming actual taxes are the same as estimated). What would be the amount of the liability on December 31, 2010?
Hel-----------lo -----------Sir-----------/Ma-----------dam-----------Tha-----------nk -----------You----------- fo-----------r u-----------sin-----------g o-----------ur -----------web-----------sit-----------e a-----------nd -----------and----------- ac-----------qui-----------sit-----------ion----------- of----------- my----------- po-----------ste-----------d s-----------olu-----------tio-----------n.P-----------lea-----------se -----------pin-----------g m-----------e o-----------n c-----------hat----------- I -----------am -----------onl-----------ine----------- or----------- in-----------box----------- me----------- a -----------mes-----------sag-----------e I----------- wi-----------ll