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 107 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
Wow, this really help

xiazhe

  • Member
  • Posts: 331
Reply 3 on: Yesterday
Great answer, keep it coming :)

« previous next »
 

Did you know?

Children with strabismus (crossed eyes) can be treated. They are not able to outgrow this condition on their own, but with help, it can be more easily corrected at a younger age. It is important for infants to have eye examinations as early as possible in their development and then another at age 2 years.

Did you know?

Glaucoma is a leading cause of blindness. As of yet, there is no cure. Everyone is at risk, and there may be no warning signs. It is six to eight times more common in African Americans than in whites. The best and most effective way to detect glaucoma is to receive a dilated eye examination.

Did you know?

Medications that are definitely not safe to take when breastfeeding include radioactive drugs, antimetabolites, some cancer (chemotherapy) agents, bromocriptine, ergotamine, methotrexate, and cyclosporine.

Did you know?

Children of people with alcoholism are more inclined to drink alcohol or use hard drugs. In fact, they are 400 times more likely to use hard drugs than those who do not have a family history of alcohol addiction.

Did you know?

The most common treatment options for addiction include psychotherapy, support groups, and individual counseling.

Tracking time of marker entry generates a chromosome map Tracking time of marker entry generates a chromosome map
Harlem’s Promise Academy has a record of graduating and sending to college more than 90 percent ... Harlem’s Promise Academy has a record of graduating and sending to college more than 90 percent ...
Coding for Special Situations Cont Coding for Special Situations Cont
Fundamentals of Multinational Finance Fundamentals of Multinational Finance
Special Triangles Special Triangles
A debt payment of $7500 is due in 24 months. If money is worth 7.2% p.a. compounded quarterly, ... A debt payment of $7500 is due in 24 months. If money is worth 7.2% p.a. compounded quarterly, ...
Video: Transcription - Introns and exons

For a complete list of videos, visit our video library