Homework Answers
The property tax has been paid for 12 months of the calendar year 2018 from Jan to Dec'2018
For the quarter ending march 31st 2018, the period in concern is jan'2018 to mar'2018 i.e, 3 months.
The expense should be proportioned to 3 months since it has been paid for these 3 month as well. ( the date of payment doesnt play any role in determining the proportionate period)
Expense Amount = 300,000 * 3/12 = $75,000
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