Business, 02.04.2020 21:01 jallison61
Benton County maintains a tax agency fund for use by the County Treasurer to record receivables, collections, and disbursements of all property tax collections to all other units of government in the county. For FY 2016β2017, the following taxes were assessed:
Benton County General Fund $ 18,290,000
Town of Thomas 6,014,000
Town of Hart 4,010,000
Benton County School District 18,296,000
Various Special Districts 4,812,000
Total $ 51,422,000
During the first six months of the fiscal year, the following transactions took place: The tax levy became effective. All units of government provided for an estimated 2 percent in uncollectible taxes. Cash collections of the first installment of taxes were as follows:
Benton County General Fund $ 8,770,000
Town of Thomas 3,608,000
Town of Hart 2,406,000
Benton County School District 8,772,000
Various Special Districts 1,126,000
Total $ 24,682,000
Record the liability to the other governmental units, assuming that the county General Fund charges other governments 1.5 percent of all tax collected because the county General Fund incurs all costs of billing, recording, and collecting taxes. Cash was paid to the various governmental units. Required:a. Record the transactions on the books of the Benton County Tax Agency Fund.
Answers: 3
Business, 21.06.2019 19:30
How can a poor housing market put home buyers in a financially unstable position? a. changing property values means itβs easier to find homes with low rental costs. b. when the home value decreases, property taxes and insurance costs increase. c. houses are valued lower than their purchase prices, so the home equity decreases. d. home buyers lose all tax benefits and tax incentives when the housing market goes down. e. mortgage payments can increase even though the home value decreases.
Answers: 1
Business, 22.06.2019 08:20
How much does a neurosurgeon can make most in canada? give me answer in candian dollar
Answers: 1
Business, 22.06.2019 13:30
What do you recommend adam do to increase production in a business setting that does not seem to value high productivity?
Answers: 3
Business, 22.06.2019 22:40
Johnson company uses the allowance method to account for uncollectible accounts receivable. bad debt expense is established as a percentage of credit sales. for 2018, net credit sales totaled $6,400,000, and the estimated bad debt percentage is 1.40%. the allowance for uncollectible accounts had a credit balance of $61,000 at the beginning of 2018 and $49,500, after adjusting entries, at the end of 2018.required: 1. what is bad debt expense for 2018 as a percent of net credit sales? 2. assume johnson makes no other adjustment of bad debt expense during 2018. determine the amount of accounts receivable written off during 2018.3. if the company uses the direct write-off method, what would bad debt expense be for 2018?
Answers: 1
Benton County maintains a tax agency fund for use by the County Treasurer to record receivables, col...
English, 21.07.2019 12:00
Mathematics, 21.07.2019 12:00
English, 21.07.2019 12:00
Biology, 21.07.2019 12:00
Mathematics, 21.07.2019 12:00
Computers and Technology, 21.07.2019 12:00
Mathematics, 21.07.2019 12:00
Mathematics, 21.07.2019 12:00
Chemistry, 21.07.2019 12:00
Mathematics, 21.07.2019 12:00