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Author Question: A property owner receives a property tax bill for 4,000 and appeals the assessment. Before he pays ... (Read 66 times)

cmoore54

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on: Jul 5, 2018
A property owner receives a property tax bill for 4,000 and appeals the assessment. Before he pays the bill, the city reduces his property tax to 3,000 .
 
  If the city had previously established an allowance for property tax refunds, what entry should it make to record the reduction?
   a. Revenues - property taxes 3,000
   Property taxes receivable 3,000
   b. Revenues - property taxes 1,000
   Property taxes receivable 1,000
   c. Allowance for property tax refunds 1,000
   Property taxes receivable 1,000
   d. Tax liens receivable 1,000
   Property taxes receivable 1,000

Question 2

Internet market exchanges enable suppliers to put their products online, by feeding into electronic catalogs that sort through alternatives from different suppliers and electronically place an order.
  Indicate whether the statement is true or false


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LVPMS

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Reply #1 on: Jul 5, 2018
Answer to Question 1

c

Answer to Question 2

T


cmoore54

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  • Posts: 568
Reply 2 on: Jul 5, 2018
Wow, this really help

bbburns21

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Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

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