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

Author Question: A city collected 750,000 of taxes levied during the current fiscal year (the total levy was ... (Read 95 times)

Engineer

  • Hero Member
  • *****
  • Posts: 527
A city collected 750,000 of taxes levied during the current fiscal year (the total levy was 780,000), 50,000 of past due taxes levied in a previous year, and 25,000 of prepayments for next year's taxes.
 
  The city should report tax revenue in the General Fund of
  a. 750,000
  b. 800,000
  c. 825,000
  d. 855,000
  e. 830,000

Question 2

Gently Laser Clinic purchased laser equipment for 8,500, paid 2,250 down, with the remainder to be paidlater. The correct entry would be
 a. Equipment
  Cash 2,250
  2,250
  b. Cash 2,250
  Accounts Payable
  Equipment 6,250
  8,500
  c. Equipment Expense 8,500
  Accounts PayableCash 2,250
  6,250
  d. Equipment
  Accounts Payable 8,500
  6,250
  Cash 2,250



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

Ptupou85

  • Sr. Member
  • ****
  • Posts: 334
Answer to Question 1

B

Answer to Question 2

d




Engineer

  • Member
  • Posts: 527
Reply 2 on: Jul 5, 2018
Gracias!


dyrone

  • Member
  • Posts: 322
Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

 

Did you know?

Historic treatments for rheumatoid arthritis have included gold salts, acupuncture, a diet consisting of apples or rhubarb, nutmeg, nettles, bee venom, bracelets made of copper, prayer, rest, tooth extractions, fasting, honey, vitamins, insulin, snow collected on Christmas, magnets, and electric convulsion therapy.

Did you know?

Recent studies have shown that the number of medication errors increases in relation to the number of orders that are verified per pharmacist, per work shift.

Did you know?

About 80% of major fungal systemic infections are due to Candida albicans. Another form, Candida peritonitis, occurs most often in postoperative patients. A rare disease, Candida meningitis, may follow leukemia, kidney transplant, other immunosuppressed factors, or when suffering from Candida septicemia.

Did you know?

According to the FDA, adverse drug events harmed or killed approximately 1,200,000 people in the United States in the year 2015.

Did you know?

There are 60,000 miles of blood vessels in every adult human.

For a complete list of videos, visit our video library