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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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10 years ago
At year end, a county tax agency fund's only asset was $500,000 in cash. The cash was collected on behalf of the following entities:
   County–$300,000
   School district–$150,000
   Fire district–$50,000
In the county basic financial statements, the tax Agency Fund should report what amount of assets and liabilities?
A.   $200,000.
B.   $300,000.
C.   $450,000.
D.   $500,000.
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Diesel
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f_zah1f_zah1
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10 years ago
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