b***y
发帖数: 21 | 1 On July 1, 1993, Ran County issued realty tax assessments for its fiscal
year ended June 30, 1994. On September 1, 1993, Co. purchased a warehouse
in Ran County. The purchase price was reduced by a credit for accrued
realty taxes. Day did not record the entire year's real estate tax
obligation, but instead records tax expenses at the end of each month by
adjusting prepaid real estate taxes or real estate taxes payable, as
appropriate. On November 1, 1993, Day paid the first of two equal
inst | o********8
发帖数: 18 | 2 “ Day did not record the entire year's real estate tax
obligation, but instead records tax expenses at the end of each month by
adjusting prepaid real estate taxes or real estate taxes payable, as
appropriate.”
In thus, the monthly RE expense of 4,000 (8,000 for september and october)
have already been accrued as Dr: RE expense 8,000 Cr: RE payable 8,000. And
when 12,000 was paid, 8,000 payable was debited and an additional 4,000 RE
is accrued. You are right, RE expense is 8,000. 4,000 is just p | b***y
发帖数: 21 | 3 Thank you, octopus418. Then you think Becker was wrong on this? But monthly
RE expense is $2000, not $4000, $8000 is for July 1 through Nov 1, right?
Sorry I still don't understand... |
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