Sunday
November 23, 2014

Homework Help: accounting

Posted by working hard on Tuesday, July 10, 2012 at 11:16am.

Olympic Sports Wear estimates its Annual Federal Income tax as $10,000. It has paid the tax in four installments of $2,500 each. However, at the end of the year, the actual tax amount is $11,200.
Therefore, the company needs to pay $1,200 to the government.

Instruction: Prepare the adjusting journal entry

Please help i am in trouble.
Thank You

Answer this Question

First Name:
School Subject:
Answer:

Related Questions

accounting-income tax - During the current year, Deborah Baronne, a single ...
accounting - Complete the work sheet. In completing the worksheet, compute State...
ACCOUNTING- 2 - HELP HERE IS WHOLE PROBLEM.IT NEEDS TO BE JOURNALIZED PROPERLY. ...
Income Tax - Accounting. Help Me Please. - Tax Rates, latesha, a single taxpayer...
College Accounting - Recording federal income tax transactions and cash dividend...
ACC 233-INCOME TAX - Tax Rates, latesha, a single taxpayer, had the following ...
tax accounting - bruce wilson won 2 million in the state lottery. the lottery ...
Mathematics - Mr.Allen has a wife and 3 kids.His monthly salary during the year ...
Tax - RPC has EMP of $200,000 end of 2008. Taxable income end of 2009 is $1 ...
Accounting 2 - Journalizing liability transaction. The following transactions of...

Search
Members