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The following revenues were among those reported by Tosa Township in 2018:Net rental revenue (after depreciation) from a parking garage owned by Tosa . . . . . . $ 40,000Interest earned on investments held for employees’ retirement benefits. . . . . . . . . . . . . 100,000Property taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6,000,000What amount of the foregoing revenues should be accounted for in Tosa’s governmental funds?a. $6,140,000b. $6,100,000c. $6,040,000d. $6,000,000

The following revenues were among those reported by Tosa Township in 2018:Net rental revenue (after depreciation) from a parking garage owned by Tosa . . . . . . $ 40,000Interest earned on investments held for employees’ retirement benefits. . . . . . . . . . . . . 100,000Property taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6,000,000What amount of the foregoing revenues should be accounted for in Tosa’s governmental funds?a. $6,140,000b. $6,100,000c. $6,040,000d. $6,000,000

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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The following revenues were among those reported by Tosa Township in 2018:
Net rental revenue (after depreciation) from a parking garage owned by Tosa . . . . . . $ 40,000
Interest earned on investments held for employees’ retirement benefits. . . . . . . . . . . . . 100,000
Property taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6,000,000

What amount of the foregoing revenues should be accounted for in Tosa’s governmental funds?
a. $6,140,000
b. $6,100,000
c. $6,040,000
d. $6,000,000

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