A company has accrued income taxes for the month for $10,000 On January 1st before the...
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A company has accrued income taxes for the month for $10,000 On January 1st before the purchase of insurance, ABC had a balance in the insurance account of $0. On January 1, ABC purchased 12 months of insurance for $1,200. The coverage period began on January 1 and ended on December 31. What is the journal entry on January 31? THI A company has accrued income taxes for the month for $10,000 On January 1st before the purchase of insurance, ABC had a balance in the insurance account of $0. On January 1, ABC purchased 12 months of insurance for $1,200. The coverage period began on January 1 and ended on December 31. What is the journal entry on January 31? THI
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For the accrued income taxes of 10000 the journal entry on January 31 would be Debit Income Tax Exp... View the full answer
Related Book For
Financial and Managerial Accounting
ISBN: 978-1133940593
10th edition
Authors: Belverd E. Needles, Marian Powers, Susan V. Crosson
Posted Date:
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