Use the Following Information to Answer Questions

question 10

Multiple Choice

Use the following information to answer questions
Angel Eyes Corporation operates on a calendar year basis.The company is in its first year of operations and received its annual property tax bill on March 31 for $21,000.The bill is due May 1.Even though the company records adjusting entries on a monthly basis, no entries related to property taxes have been recorded.
-Assuming appropriate adjusting entries were completed for the April month end, what entry should be recorded for the payment on May 1?

• A)debit prepaid property tax $21,000 and credit cash $21,000
• B)debits to prepaid property tax and property tax expense for $14,000 and $7,000, respectively and credit to cash for $21,000
• C)debits to prepaid property tax and property tax payable for $14,000 and $7,000, respectively and credit to cash $21,000
• D)debit property tax payable $15,750 and credit to cash $15,750.

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Definitions:

Spinal Cord

The major bundle of nerves running down the back, encased in the spine, which transmits signals between the brain and the rest of the body.

Resting Potential

The electrical charge across the neuronal membrane when the neuron is not actively transmitting a signal, representing a stable state of readiness for activation.

Positively Charged

Having a greater number of protons than electrons, resulting in an electric charge that is positive.

Sympathetic Components

Parts of the sympathetic nervous system, a branch of the autonomic nervous system responsible for the body's 'fight or flight' response.