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LESSON 18-1

LESSON 18-1. Buying Plant Assets and Paying Property Tax. 4. RECORDING THE BUYING OF A PLANT ASSET. page 535. January 3, 20X1. Paid cash for a display case, $3,250.00. Check No. 4. 1. 2. 3. 1. Account title. 3. Cash paid. 2. Cost of the plant asset. 4. Post. Assessed Value. ×.

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LESSON 18-1

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  1. LESSON 18-1 Buying Plant Assets and Paying Property Tax

  2. 4 RECORDING THE BUYING OF A PLANT ASSET page 535 January 3, 20X1. Paid cash for a display case, $3,250.00. Check No. 4. 1 2 3 1. Account title 3. Cash paid 2. Cost of the plant asset 4. Post LESSON 18-1

  3. AssessedValue × Tax Rate = AnnualProperty Tax CALCULATING AND PAYING PROPERTY TAX page 536 February 1. Classic Parts, Inc., paid cash for property tax, $720.00. Check No. 69. $60,000.00 × 1.2% = $720.00 LESSON 18-1

  4. TERMS REVIEW page 537 • real property • personal property • assessed value LESSON 18-1

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