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

Author Question: When making its year-end entries, the city's accountant determines that 20,000 of the city's ... (Read 67 times)

tuffie

  • Hero Member
  • *****
  • Posts: 534
on: Jul 5, 2018
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
Reply #1 on: Jul 5, 2018
Answer to Question 1

c

Answer to Question 2

c


tuffie

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

ultraflyy23

  • Member
  • Posts: 312
Reply 3 on: Yesterday
Excellent

« previous next »
 

Did you know?

In the United States, there is a birth every 8 seconds, according to the U.S. Census Bureau's Population Clock.

Did you know?

Human kidneys will clean about 1 million gallons of blood in an average lifetime.

Did you know?

There are over 65,000 known species of protozoa. About 10,000 species are parasitic.

Did you know?

According to the American College of Allergy, Asthma & Immunology, more than 50 million Americans have some kind of food allergy. Food allergies affect between 4 and 6% of children, and 4% of adults, according to the CDC. The most common food allergies include shellfish, peanuts, walnuts, fish, eggs, milk, and soy.

Did you know?

Hypertension is a silent killer because it is deadly and has no significant early symptoms. The danger from hypertension is the extra load on the heart, which can lead to hypertensive heart disease and kidney damage. This occurs without any major symptoms until the high blood pressure becomes extreme. Regular blood pressure checks are an important method of catching hypertension before it can kill you.

Myopia (nearsightedness). In the uncorrected top figure, the image comes into focus in front of the Myopia (nearsightedness). In the uncorrected top figure, the image comes into focus in front of the
A 100-Year Flood Map of Montpelier, Vermont A 100-Year Flood Map of Montpelier, Vermont
Use tap water when making coffee, tea, or juice from concentrate, and for food preparation Use tap water when making coffee, tea, or juice from concentrate, and for food preparation
Mishu wants to invest an inheritance of $20,000 for one year. His credit union offers 8.85% for ... Mishu wants to invest an inheritance of $20,000 for one year. His credit union offers 8.85% for ...
Dragon Chinese new year 2023 Dragon Chinese new year 2023
What single payment one year from now would be economically equivalent to payments of $1,000 ... What single payment one year from now would be economically equivalent to payments of $1,000 ...
Video: Osmosis - water transport

For a complete list of videos, visit our video library