Property taxes in the amount of 360000 and 400000 were, Ask an Expert

Accounting

The Ancira Company closed its books annually on December 31, while the city in which it is located has a fiscal year beginning on April 1 and ending on March 31. Taxes on property are assessed on April 1 of each year. Property taxes in the amount of $360,000 and $400,000 were assessed on April 1, 2010 and 2011, respectively. For the year ended December 31, 2011, the Ancira Company would report property tax expense of:

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M947059

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