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Author Question: A property tax millage rate is calculated by: a. dividing the required tax levy by the total ... (Read 85 times)

nautica902

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on: Jul 5, 2018
A property tax millage rate is calculated by:
 
  a. dividing the required tax levy by the total assessed value of property
  b. multiplying the required tax levy by the total assessed value of property
  c. dividing the required tax levy by the net assessed value of property
  d. multiplying the required tax levy by the net assessed value of property

Question 2

Smokey Company purchases a one-year insurance policy on July 1 for 3,600 . The adjusting entry on December 31 is
 a. debit Insurance Expense, 1,800; credit Prepaid Insurance, 1,800
  b. debit Insurance Expense, 1,500; credit Prepaid Insurance, 1,500
  c. debit Insurance Expense, 2,100; credit Prepaid Insurance, 2,100
  d. debit Prepaid Insurance, 1,800; credit Cash, 1,800


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ciecieme

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

c

Answer to Question 2

a


nautica902

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Reply 2 on: Jul 5, 2018
Great answer, keep it coming :)

alvinum

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Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

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