Ask a New Question

Question

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
13 years ago

Answers

Related Questions

Cost of Debt. Olympic Sports has two issues of debt outstanding. One is a 9 percent coupon bond with... She could have been an Olympic figure skater, but she has quit practicing. What is the linking ve... Olympic Sports has two issues of debt outstanding. One is a 6% coupon bond with a face value of $35... An Olympic athlete run for x minutes at y metres a minute and walks for w minutes at z metres a minu... I am looking at an olympic event that has happened every 4 years (except for when the olympics didn'... Sports wear The 1992 U.S. men’s Olympic team was nicknamed what? In 1900, there was an Olympic underwater swimming event. The score was calculated by giving one poin... In 1900, there was an Olympic underwater swimming event. The score was calculated by giving two poin... Olympic Games The Olympic Games have their origins in ancient Greece, which hosted a religious fe...
Ask a New Question
Archives Contact Us Privacy Policy Terms of Use