June 30 The monthly allocation of Prepaid Insurance ( 123 ) on shop equipment is
ID: 2483680 • Letter: J
Question
June 30
The monthly allocation of Prepaid Insurance (123) on shop equipment is $940.00 per month. Invoice Number: INSUR. Overhead: INSUR.
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June 30
Record the accrued estimated property tax expense on the factory assets for the month ended June 30 of $560.00. Invoice Number: PRTAX. Overhead: PRTAX.
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- Estimated Prop. Taxes Payable
- Prepaid Insurance
- Accounts Receivable
- Cash
- Manufacturing Overhead
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NO NOT USE.........
Insurance Expense
Prepaid Property Tax
Property Tax Expense
Explanation / Answer
30-Jun prepaid insurance 940 To insurance expense 940 30-Jun Property tax 560 To estimated property taxes payable 560