Digger Oil & Gas Has Received Its Invoice in the Amount

question 17

Multiple Choice

Digger Oil & Gas has received its invoice in the amount of $85,000 for property taxes for the year 2010.The invoice was received and paid in June 2010 and the entire amount was debited to property tax expense.Assuming Digger does NOT prepare interim financial statements, the required adjustment on December 31, 2010 is

• A)debit property tax expense and credit prepaid property tax $49,583.
• B)debit prepaid property tax and credit property tax expense $49,583.
• C)debit property tax expense and credit prepaid property tax $35,417.
• D)no entry required.

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Definitions:

Transsexuals

Individuals whose gender identity differs from the sex they were assigned at birth, often undergoing medical treatments to align their physical appearance with their gender identity.

Two-spirits

A term used by some Indigenous North American cultures to describe a person who embodies both masculine and feminine traits.

Gender

Gender pertains to the roles, behaviors, activities, expectations, and societal norms constructed around the concepts of male and female identity.

Sexual Variation

The diversity in sexual desires, behaviors, and orientations among individuals.