subject
Business, 20.10.2021 07:40 loroloco71

A city levies a 2 percent sales tax. Sales taxes must be remitted by the merchants to the city by the twentieth day of the month following the month in which the sale occurred. Cash received by the city related to sales taxes is as follows: Amount received 1/20/17, applicable to December 2016 sales $100
Amount received 2/20/17, applicable to January 2017 sales $30
Amount received during 2017 related to February-November 2017 sales $400
Amount received 1/20/18 for December 2017 sales $110
Amount received 2/20/18 for January 2018 $40
Assuming the city uses the same period to define "available" as the maximum period allowable for property taxes, what amount should it recognize in the government-wide financial statements as sales tax revenue for the fiscal year ended 12/31/17?
a. $430
b. $530
c. $540
d. $550.

ansver
Answers: 2

Another question on Business

question
Business, 21.06.2019 13:30
What is the opportunity cost in this scenario? harry has been very busy at work for the past two weeks. he has been working weekends too. finally, he is going to get a weekend off. originally, he planned to paint his apartment that weekend. he also considered going fishing for the weekend. but then his parents called and asked him to come for dinner because it has been a while since they have seen each other. later on, his friend theo informed him about a surprise birthday party for another friend. theo plans to reserve a room at a restaurant for the celebration, with the cost to reserve the room split between theo, harry, and three other friends. now harry is confused about what he should do over the weekend. he decides that, for him, the most important commitments are going over to his parent's house and attending his friend's birthday party. in the end, harry decides to see his parents.
Answers: 2
question
Business, 21.06.2019 22:10
Fess receives wages totaling $74,500 and has net earnings from self-employment amounting to $71,300. in determining her taxable self-employment income for the oasdi tax, how much of her net self-employment earnings must fess count? a. $74,500 b. $71,300 c. $53,900 d. $127,200 e. none of the above.
Answers: 3
question
Business, 22.06.2019 09:30
Any point on a country's production possibilities frontier represents a combination of two goods that an economy:
Answers: 3
question
Business, 22.06.2019 19:00
The following are budgeted data: january february march sales in units 16,200 22,400 19,200 production in units 19,200 20,200 18,700 one pound of material is required for each finished unit. the inventory of materials at the end of each month should equal 20% of the following month's production needs. purchases of raw materials for february would be budgeted to be:
Answers: 3
You know the right answer?
A city levies a 2 percent sales tax. Sales taxes must be remitted by the merchants to the city by th...
Questions
question
Mathematics, 30.04.2021 01:10
question
Mathematics, 30.04.2021 01:10
question
Biology, 30.04.2021 01:10
question
Mathematics, 30.04.2021 01:10
question
Spanish, 30.04.2021 01:10
question
Mathematics, 30.04.2021 01:10
Questions on the website: 13722359