This topic contains a solution. Click here to go to the answer

Author Question: When making its year-end entries, the city's accountant determines that 20,000 of the city's ... (Read 70 times)

tuffie

  • Hero Member
  • *****
  • Posts: 534
When making its year-end entries, the city's accountant determines that 20,000 of the city's remaining current property taxes receivable would not be collected within the first sixty days of the next fiscal year, but would be collectible later
 
  in that year. At year-end, the city should report a 20,000 credit to:
   a. revenues - property taxes
   b. property taxes receivable - delinquent
   c. deferred revenues - property taxes
   d. allowance for uncollectible taxes

Question 2

Which of the following is an example of activities that are likely to be accounted for in a government's general fund?
 
  a. business-type activities of government that are financed by user charges
  b. sales taxes collected by a state on behalf of counties within the state
  c. property taxes to be used to provide basic government services
  d. donations that must be kept intact, but whose income must be used to beautify parks



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

zenzy

  • Sr. Member
  • ****
  • Posts: 336
Answer to Question 1

c

Answer to Question 2

c




tuffie

  • Member
  • Posts: 534
Reply 2 on: Jul 5, 2018
Excellent


jackie

  • Member
  • Posts: 324
Reply 3 on: Yesterday
Wow, this really help

 

Did you know?

Cytomegalovirus affects nearly the same amount of newborns every year as Down syndrome.

Did you know?

The Romans did not use numerals to indicate fractions but instead used words to indicate parts of a whole.

Did you know?

Tobacco depletes the body of vitamins A, C, and E, which can result in any of the following: dry hair, dry skin, dry eyes, poor growth, night blindness, abscesses, insomnia, fatigue, reproductive system problems, sinusitis, pneumonia, frequent respiratory problems, skin disorders, weight loss, rickets, osteomalacia, nervousness, muscle spasms, leg cramps, extremity numbness, bone malformations, decayed teeth, difficulty in walking, irritability, restlessness, profuse sweating, increased uric acid (gout), joint damage, damaged red blood cells, destruction of nerves, infertility, miscarriage, and many types of cancer.

Did you know?

Your skin wrinkles if you stay in the bathtub a long time because the outermost layer of skin (which consists of dead keratin) swells when it absorbs water. It is tightly attached to the skin below it, so it compensates for the increased area by wrinkling. This happens to the hands and feet because they have the thickest layer of dead keratin cells.

Did you know?

There can actually be a 25-hour time difference between certain locations in the world. The International Date Line passes between the islands of Samoa and American Samoa. It is not a straight line, but "zig-zags" around various island chains. Therefore, Samoa and nearby islands have one date, while American Samoa and nearby islands are one day behind. Daylight saving time is used in some islands, but not in others—further shifting the hours out of sync with natural time.

For a complete list of videos, visit our video library