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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
Assume that a county with a June 30 fiscal year end levied $900,000 in special assessments to finance debt service on a special assessment debt issuance. The levy date was January 20X1. The levy is to be paid by the property owners over a 10 year period beginning in January 20X2. The amount of revenue recognized by the county in the Debt Service Fund as of June 30 20X1 would be
A.   $900,000.
B.   $90,000.
C.   $0.
D.   Tax and special assessment revenues are never recognized in a Debt Service Fund.
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3 Replies
Diesel
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Answer accepted by topic starter
f_zah1f_zah1
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#1
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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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