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Home Q & A Board Other Fields Homework Help Business Accounting
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goji.go goji.go
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Posts: 5977
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9 years ago
A county, that did not previously have a property tax levies a property tax for $900,000 in December 2012. The tax is for the budget year January 1 - December 31, 2013. Because it sends out the bills on December 1, it actually collects $500,000 in cash before December 31, 2012. It collects an additional $375,000 of 2013 property taxes during calendar year 2013, $20,000 during January 1 - February 28, 2014, and the remaining $5,000 in June 2014. How much property tax revenue should the county report in its 2013 fund and government-wide financial statements?
               Fund   Government-wide
               Statements   Statements
      a.         $375,000   $400,000
      b.         $875,000   $900,000
      c.          $875,000   $895,000
      d.         $895,000   $900,000
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Diesel
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Answer accepted by topic starter
f_zah1f_zah1
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9 years ago
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goji.go Author
wrote...
#2
9 years ago
Thanks so much f_zah1.

You were correct Smiling Face with Open Mouth
Diesel
wrote...
#3
9 years ago
You're very welcome!
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