Entry (4)in the below T-account could represent the cost of property taxes and insurance incurred on the factory.

Question

Quizplus · Accepted Answer

The T-account represents the transactions related to the factory. Property taxes and insurance are expenses incurred by the factory and they would be recorded as a debit entry, which matches with the given T-account entry. Therefore, entry (4) can represent the cost of property taxes and insurance on the factory.

Entry (4)in the Below T-Account Could Represent the Cost of Property