This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: If a special tax is levied to finance debt service for a particular debt issue, the entry to record ... (Read 110 times)

V@ndy87

  • Hero Member
  • *****
  • Posts: 571
on: Jul 5, 2018
If a special tax is levied to finance debt service for a particular debt issue, the entry to record the levy in the Debt Service Fund would be
 
  A. Debit Taxes Receivable and credit to Revenues.
  B. Debit Taxes Receivable and credit to Other Financing Sources.
  C. Debit Prepaid Assets and credit to Revenues.
  D. Tax levies may not be reported in a Debt Service Fund.

Question 2

The accounting function of classifying is
 a. thinking about how events affect the business.
   b. gathering similar events to provide information that is easy to understand.
   c. sorting and grouping similar items together.
   d. deciding the meaning and importance of the information in various reports.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

Joc

  • Sr. Member
  • ****
  • Posts: 317
Reply #1 on: Jul 5, 2018
Answer to Question 1

A

Answer to Question 2

c


V@ndy87

  • Member
  • Posts: 571
Reply 2 on: Jul 5, 2018
Excellent

debra928

  • Member
  • Posts: 342
Reply 3 on: Yesterday
Gracias!

« previous next »
 

Did you know?

The term pharmacology is derived from the Greek words pharmakon("claim, medicine, poison, or remedy") and logos ("study").

Did you know?

There are major differences in the metabolism of morphine and the illegal drug heroin. Morphine mostly produces its CNS effects through m-receptors, and at k- and d-receptors. Heroin has a slight affinity for opiate receptors. Most of its actions are due to metabolism to active metabolites (6-acetylmorphine, morphine, and morphine-6-glucuronide).

Did you know?

The familiar sounds of your heart are made by the heart's valves as they open and close.

Did you know?

The Centers for Disease Control and Prevention has released reports detailing the deaths of infants (younger than 1 year of age) who died after being given cold and cough medications. This underscores the importance of educating parents that children younger than 2 years of age should never be given over-the-counter cold and cough medications without consulting their physicians.

Did you know?

Fatal fungal infections may be able to resist newer antifungal drugs. Globally, fungal infections are often fatal due to the lack of access to multiple antifungals, which may be required to be utilized in combination. Single antifungals may not be enough to stop a fungal infection from causing the death of a patient.

An electrocardiogram (EKG) wave, a record of the electrical signal as it moves through the conductio An electrocardiogram (EKG) wave, a record of the electrical signal as it moves through the conductio
This slave burial service, painted by John Antrobus in 1860, reflects an inversion of power relation This slave burial service, painted by John Antrobus in 1860, reflects an inversion of power relation
The Phanerozoic Oxygen Isotope Record of Seawater The Phanerozoic Oxygen Isotope Record of Seawater
When the White House tapes were turned over to the special prosecutor, several crucial sections had ... When the White House tapes were turned over to the special prosecutor, several crucial sections had ...
Ozone Depletion—A Global Issue Ozone Depletion—A Global Issue
Corporate Finance: The Core Corporate Finance: The Core
Video: Polysaccharides

For a complete list of videos, visit our video library