Accounting For Governmental And Not For Profit Entities
17th Edition
ISBN: 9781308700441
Author: RECK
Publisher: MCGRAW-HILL HIGHER EDUCATION
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Question
Chapter 4, Problem 18EP
a.
To determine
Prepare journal entries to record property tax levy in the General Fund and Revenues ledger, as on July 1, 2017.
b.
To determine
Prepare
c.
To determine
Prepare journal entries to record reclassification of uncollected taxes as delinquent taxes in the General Fund general journal.
d.
To determine
Prepare journal entry to record interest and penalties that are expected to be uncollected in the General Fund.
e.
To determine
Prepare journal entries to record collection of delinquent taxes in the General Fund general journal and subsidiary ledger.
f.
To determine
Explain the way in which the reporting of property tax revenues differs from revenues reported for-a-profit organization.
g.
To determine
Explain whether the collectible delinquent taxes that are not collected until November 2018 (which is more than 60 days after the year-end), would affect the accounting treatment of the taxes.
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Chapter 4 Solutions
Accounting For Governmental And Not For Profit Entities
Ch. 4 - Prob. 1QCh. 4 - When preparing the statement or schedule of...Ch. 4 - Prob. 3QCh. 4 - During a recession citizens and governments see a...Ch. 4 - If the General Fund of a certain city needs...Ch. 4 - Prob. 6QCh. 4 - Explain why some governments may account for...Ch. 4 - Prob. 8QCh. 4 - Prob. 9QCh. 4 - Prob. 10Q
Ch. 4 - Prob. 12CCh. 4 - Prob. 14CCh. 4 - Choose the best answer. When equipment is...Ch. 4 - Goods for which a purchase order had been placed...Ch. 4 - Prob. 16.3EPCh. 4 - Garden City has calculated that General Fund...Ch. 4 - Prob. 16.5EPCh. 4 - Carroll City levies 200,000 of property taxes for...Ch. 4 - Prob. 16.7EPCh. 4 - Prob. 16.8EPCh. 4 - Prob. 16.9EPCh. 4 - Prob. 16.10EPCh. 4 - Prob. 17EPCh. 4 - Prob. 18EPCh. 4 - Prob. 19EPCh. 4 - At the end of fiscal year 2017, the City of...Ch. 4 - The City of Waterville applied for a grant from...Ch. 4 - Prob. 22EPCh. 4 - Prob. 23EPCh. 4 - Prob. 24EPCh. 4 - Prob. 25EP
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