Adjusting Entries for Prepaid and Accrued Taxes

A-Z Construction Company was organized on May 1 of the current year. On May 2, A-Z Construction prepaid $5,400 to the city for taxes (license fees) for the next 12 months and debited the prepaid taxes account. A-Z Construction is also required to pay in January an annual tax (on property) for the current calendar year of $21,140.

a. Journalize the two adjusting entries required to bring the accounts affected by the two taxes up to date as of December 31, the end of the current year.

12342 3fg sdfg 757767 54546636

Combining the emissions released by fossil fuel burning and  the carbon released via land use change, we get a total of 8.7 gt. since the problem states that the oceans "take up" or sequester  2.4 gt carbon  per year, we subtract that value from 8.7 gt, leaving us with 6.3 gt of carbon. since the problem states that 3.4 gt carbon dioxide emissions end up in the atmosphere, the "missing sink" of carbon takes up 2.9 gt, a value we got by subtracting the 3.4 gt amount recorded from the 6.3 gt carbon left available after the oceans sequester the carbon dioxide. 

The answer is "d"  stocks