The county collector of suncoast county is responsible for collecting all property taxes levied by funds and governments within the boundaries of the county. to reimburse the county for estimated administrative expenses of operating the tax agency fund, the agency fund deducts 1.5 percent from the collections for the town, the school district, and the other towns. the total amount deducted is added to the collections for the county and remitted to the suncoast county general fund.
the following events occurred in 2017:
1. current-year tax levies to be collected by the agency were:
county general fund $ 10,333,000
town of bayshore general fund 4,840,000
suncoast county consolidated school district 6,550,000
other towns 3,120,000
total $ 24,843,000
2. $13,700,000 of current taxes was collected during the first half of the year.
3. liabilities to all funds and governments as a result of the first half-year collections were recorded. (a schedule of amounts collected for each participant, showing the amount withheld for the county general fund and net amounts due the participants, is recommended for determining amounts to be recorded for this transaction.)
4. all cash in the tax custodial fund was distributed.
all additions and deductions were recorded by the custodial fund.
additions and deductions are aggregated because resources are held less than three months.
required
a. prepare journal entries for each of the foregoing transactions that affected the tax agency fund. (if no entry is required for a transaction/event, select "no journal entry required" in the first account field. do not round intermediate calculations. round your answers to the nearest whole dollar amount.)
1. record the current-year tax levies to be collected by the agency.
2. record the current taxes collected during the first half of 2017.
3. record the liabilities due to all funds and governments at the end of first half-year.
4. record the distribution of all cash in the tax agency fund
b. prepare journal entries for each of the foregoing entries that affected the town of bayshore general fund. begin with the tax levy entry, assuming 2 percent of the gross levy will be uncollectible. (if no entry is required for a transaction/event, select "no journal entry required" in the first account field. do not round intermediate calculations. round your answers to the nearest whole dollar amount.)
1. record the revenues receivable and uncollectible.
2. record the taxes collected
Answers
Answer:
$1,500,000
Explanation:
County receives funding from numerous sources. County has no control to introduce new taxes or increasing current taxes, except for property tax.
Given:
County collected for a school district = $1,000,000
County for General Fund = $5,000,000
For town located in the County = $500,000
Hardin County Agency Fund = County for school + County for a town
= $1,000,000 + $500,000
= $1,500,000
brainlest pleas
In the Suncoast county firm, the the current-year tax levies to be collected by the agency is $24,843,000 and net remittance is $13,700,000.
What do you mean by revenues receivable?The amount of outstanding debts that management truly anticipates recovering is represented by the net reported amount of the total receivable and the allowance. The gross quantity tallied for the sale of products or services is referred to as revenue. The revenue statement's upper line displays this sum.
On the balance statement, accounts outstanding are shown as current assets. Any sum of money that clients owe for transactions they made with credit is known as AR.
Receivables is not an income account; it is an equity account. Contrarily, when using accrual accounting, you document income along with an account receivable.
Therefore, in the Suncoast county firm, the the current-year tax levies to be collected by the agency is $24,843,000 and net remittance is $13,700,000.
To know more about the revenues receivable, visit:
https://brainly.com/question/15283295
#SPJ2
The image is attached:
Related Questions
Joseph has recently been hired by a plumbing company. Which training method will most likely be used to train Joseph
Answers
The most common path is an apprenticeship program.
What property of an object determines how much inertia it has.
Answers
The property of an object that determines how much inertia it has is its mass
Hope that helps!
How can globalization negatively affect american farmers health
Answers
Explanation:
Negative Impact of globalisation:
Attraction of global market resulted in farmers shifting from traditional or mixed cropping to unsustainable cropping practices. The competition from cheaper imports pushed down the prices of crops like cotton, wheat etc making agriculture unsustainable for many farmers.
7 of these cuboids of side 3cm are put together to make this shape
Answers
The surface area of the shape is 504cm^2.
What is Surface Area?This refers to the sum of all areas of the faces on a three-dimensional shape.
From the complete question, we can see that there is a diagram with the following parameters:
Seven cuboidsEach side 3cmThe surface area of the shape is:
3 3 * 3=9
9 * 7=63
63+9=72 * 7
=504cm^2
Read more about surface area here:
https://brainly.com/question/76387
Which best describes a way people can use personal loans? to buy a house to buy a car to pay for college to pay for groceries
Answers
Personal loans are unsecured loans offered by financial institutions based on factors such as employment history, repayment capacity, income level, profession, and credit history.
How do personal loans work?When you are approved for a personal loan, the funds are often sent directly into your checking account. When you acquire a loan to refinance current debt, you can occasionally ask your lender to pay your invoices directly.
Prepare to begin payback within 30 days, regardless of how you receive your payments. If you have a variable-rate loan, your interest rate will fluctuate, which may cause the amount you owe to alter from month to month.
When you pay off your personal loan, the credit line is closed.
Thus, Option D is correct which describes personal loans.
For more information about Personal loans refer to the link:
https://brainly.com/question/19106746
Answer:
THE ANSWER IS TO PAY FOR COLLEGE
not car or house.
Explanation:
Choose a company you frequently buy from.
For example: Nike, McDonald's, Wawa
Now, identify that company's target market and marketing mix.
Answers
A young couple living in the rural south heard about the closing of a local grocery store. although a small operation, it served a small community that would now have to travel another 20 miles to the nearest grocery store. with help from a local realtor and banker, the couple purchased the store, remodeled it, and reopened it. as new storeowners, they had to carefully watch cash flow. as their customer base began to grow, they hired others to help with the operation. the economic benefit they created can be considered
Answers
The ______ argues that combining location specific assets or resource endowments and the firm's own unique assets often requires FDI.
Answers
Answer:
The eclectic paradigm argues that combining location specific assets or resource endowments and the firm's own unique assets often requires FDI.
Do u have a mil what would u do wit it
how would u invest
Answers
Answer:
I would save a quarter of it for university, I would pay off and debt then I would invest in shares and donate to charity. also buy a car.
Explanation:
this is a personal based question so it's what you would spend the mil on. this is what I would spend it on.
Reuben would like to buy a car that costs $25,000 today when he graduates from college in 5 years. If the rate of inflation is expected to be 3% per year over the next 5 years, how much would Reuben expect to pay for a similar car in today's dollars
Answers
The future value of the car that costs $25,000 today in 5 years at an inflation rate of 3% per year is $28,981.85.
What is the future value?The future value shows the value that a present value will be in a future period, given the time value of money concept.
The future value can be computed using the future value formula, future value table, or an online finance calculator as below.
Data and Calculations:Price of a car today = $25,000
Period to buy the car = 5 years
Inflation rate per year = 3%
Future value factor of 3% for 5 years = 1.159
Future price of the car in 5 years' time = $28,975 ($25,000 x 1.159)
N (# of periods) = 5 years
I/Y (Interest per year) = 3%
PV (Present Value) = $25,000
PMT (Periodic Payment) = $0
Results:
FV = $28,981.85
Total Interest $3,981.85
Thus, the future value of the car that costs $25,000 today in 5 years at an inflation rate of 3% per year is $28,981.85.
Learn more about future value computations at https://brainly.com/question/989421
Question 1 of 10
In a command economy, decisions about which goods are produced are
based on:
A. what the local community has made for generations.
B. what businesses believe will generate the most profits.
C. what the government decides is important for society.
D. what goods are most likely to sell in international markets.
SUBMIT
Answers
Answer:
the correct answer is a
Explanation:
If U.S. investments begin to offer a real rate of interest that is higher than the real rate that can be earned on German investments, we can expect:
Answers
Answer:
An increase in price of dollar in terms of German marks. If U.S. investments yield a real rate of interest higher than the real rate, then people are more likely to invest their and subsequently take funds out of their investments in marks.Explanation:
Abardeen corporation borrowed $90,000 from the bank on october 1, year 1. The note had an 8 percent annual rate of interest and matured on march 31, year 2. Interest and principal were paid in cash on the maturity date. Required a. What amount of cash did abardeen pay for interest in year 1? b. What amount of interest expense was recognized on the year 1 income statement? c. What amount of total liabilities was reported on the december 31, year 1, balance sheet? d. What total amount of cash was paid to the bank on march 31, year 2, for principal and interest? e. What amount of interest expense was reported on the year 2 income statement?.
Answers
a) The amount of cash that Abardeenn Corporation paid for interest in year 1 is $0.
b) The amount of interest expense recognized on the year 1 income statement is $1,800 ($90,000 x 8% x 3/12).
c) The amount of total liabilities reported on the December 31, year 1 balance sheet is $91,800 ($90,000 + $1,800).
d) The total amount of cash paid to the bank on March 31, Year 2, for principal and interest is $93,600 ($90,000 + ($90,000 x 8% x 6/12).
e) The amount of interest expense reported on the year income statement is $1,800 ($90,000 x 8% x 3/12).
How is interest calculated?Interest can be computed by applying the interest rate to the amount of notes payable based on the period under coverage.
For example, the interest amount for a six month is not the same as the interest amount for a full year, as interests are always prorated.
Data and Calculations:Amount of Note Payable = $90,000
Annual interest rate = 8%
Maturity date = March 31, Year 2
Maturity period = 6 months
Learn more about prorating interest amount at https://brainly.com/question/25206296
In a cohesive group, group members have a degree of dependence on the group. A. True B. False
Answers
It is true that members in a cohesive group have a degree of dependence on the group.
What is cohesive group?A cohesive group is one whose members are very positive in their feeling towards the group and are strongly motivated to retain their membership in the group.
There cannot be group cohesion if the members do not wish to belong to the group or do not find the motivation to belong to the group.
Hence, It is true that members in a cohesive group have a degree of dependence on the group.
Learn more about cohesive group here : https://brainly.com/question/21837802
LIFO uses the ______ unit costs for Cost of Goods Sold on the income statement and the ______ unit costs for Inventory on the balance sheet.
Answers
LIFO uses the last unit costs for Cost of Goods Sold on the income statement and the first unit costs for Inventory on the balance sheet.
What is LIFO?LIFO means last in first out. It means that it is the last purchased inventory that is the first to be sold.
For example, if beginning inventory consists of 10 units at $10 per unit. In the middle of the month, 10 units were bought at $15 per unit. At the end of the month, 10 units were sold. Using LIFO, the cost of goods sold would be $150 ( 10 x 15). Ending inventory would be $100 ($10 x 10).
To learn more about LIFO, please check: https://brainly.com/question/13779572
_______________ is the degree to which decision-making authority is retained at higher managerial levels a. Formalization b. Unification c. Centralization d. Specialization
Answers
There are various organizations structure. one of it is centralization. Centralization is the degree to which decision-making authority is retained at higher managerial levels.
Features of CentralizationIn a centralized company, cogent decisions are made at topmost levels of the hierarchy, whereas in decentralized companies, decisions are made and problems are solved at lower levels by employees who are closer to the problem.
Advantages of centralizationSome employees are more okay in an organization where their manager authoritatively gives instructions and makes decisions. Centralization can also lead to operational efficiency because there will be no time wasting, particularly if the company is operating in a stable environment. Strategic process and content as mediators between organizational context and structure.
Therefore, the answer is centralization option C.
learn more about centralization: https://brainly.com/question/1288780
The presence of which magnetic feature best explains why a magnet can act at a distance on other magnets or on objects containing certain metals? fields dipoles domains forces.
Answers
The presence of "fields" magnetic feature best explains why a magnet can act at a distance on other magnets or on objects containing certain metals.
What is the term magnetic fields about?The magnetic forces exerted by the magnet can act at a distance on other magnets or on objects containing certain metals.
The magnetic fields showcase the presence of magnetic forces. The magnetic forces arise due to attraction and repulsion of the poles inside the material.
Moreover, Opposite poles attract each other while similar poles repel each other.
Therefore, correct option is A.
Learn more about fields, refer to the link:
https://brainly.com/question/26690770
Answer:
answer is A. fields
Explanation:
edge 2022 I took the test
In a competitive market, no single producer can influence the market price because.
Answers
Explanation:
many other sellers are offering a product that is essentially identical consumers have more influence over the market price than producers do.
Having connectivity and visibility to all partners in a firm's supply chain can be accomplished through the use of: a. Cloud-based communication systems b. Legacy MRP systems c. Mobile Marketing d. Score-carding systems
Answers
Having connectivity and visibility to all partners in a firm's supply chain can be accomplished through the use of: a Cloud-based communication systems.
What is Cloud-based communication systems?Cloud- based communications system can be defined as the way of using internet to communicate or transmit data.
Most companies tend to make use of cloud communication to communicate by making internet phone calls and this is normally done by a hosting service which serves as a third party.
Inconclusion having connectivity and visibility to all partners in a firm's supply chain can be accomplished through the use of: a Cloud-based communication systems.
Learn more about Cloud-based communication systems here:https://brainly.com/question/14570199
what are some economic choices teasha had to make
Answers
Answer:
The human resources that will be required by Teasha to open her business include a receptionist, cashier, and salesperson.
From the information given, Teasha has graduated from school and wants to open her own business. She has experience working in a gift store and wants to have her own gift store too.
Therefore, she'll need a receptionist, a cashier, and a salesperson. The receptionist will welcome customers and answer phone calls from clients.
The cashier will help with issuing and receiving payments. Lastly, the salesperson will be responsible for helping the customers find items in the store and increasing sales.
Explanation:
PLEASE HELP! I WILL GIVE BRAINLIEST! I don't need you to answer the whole thing, I just need more of an explanation on what I'm supposed to do! Thank you.
Imagine you are taking an international trip. Where would you go? What are the requirements to enter the country (visa, vaccinations, etc.)? What travel documents do you already possess, and which would you need to obtain? What else might you need to do to plan your trip?
Answers
Some good holiday destinations to go to are:
DubaiRomaniaSwedenUruguay.Some of the requirements for travel include:
A negative C*VID test.International passport.A valid reason for the visit.The travel document you would need is your International Passport and your flight ticket (if you are going by plane.
What is International Travel?This refers to the movement between one geographical location to another.
Read more about international travel here:
https://brainly.com/question/25643862
What four factors must be taken into consideration to determine the right price for a product?.
Answers
Factors that must be taken into consideration to determine the right price for a product are;
Costs of productionCustomers. Positioning of the products.Competitors that are available in the same marketWhat is a price?Price serve as the the cost consumers pay for a product.
The price of a product is it's value, however, one needs to consider the cost of production as well as what the consumer wants.
Learn more about price at:
https://brainly.com/question/19104371
When he worked in the office alongside his co-workers and supervisor, Nikola just had to show up for eight hours and everyone thought he was productive. However, now that he works remotely, he feels he has to prove he's been working by getting projects done and sending them to his boss, and he has actually become more productive as a result. Nikola's experience is an example of one of the benefits of __________.
Answers
The given scenario of the remote work which Nikola does is an example of telecommuting.
What is Telecommuting?This refers to the practise of working from home making use of internet based devices to communicate and execute tasks.
With this in mind, we can see that based on the scenario, Nikola had to show up for 8 hours to be thought productive by his co-workers and when he started working remotely, he became even more productive and this is an example of telecommuting.
Read more about telecommuting here:
https://brainly.com/question/26614549
Factors that have contributed to heterogamy include a. higher college enrollments. b. geographical mobility. c. participation of women in the work force. d. all of the above please select the best answer from the choices provided a b c d
Answers
The factors that have changed to heterogamy include a higher college enrollments, geographical mobility, and participation of women in the work force.
Option D is correct.
What is heterogamy?Heterogamy is defined as the marriage between people of different characteristics.
These characteristics include different sociological backgrounds, educational levels and different races. Geographical mobility has aided Heterogamy in a beneficial way.
Interracial marriages are more common when people of different races meet as a result of travel.
Therefore, option D is correct.
Learn more about the heterogamy, refer to:
https://brainly.com/question/25626127
Answer:
The correct answer is D
Explanation:
Al of the above.
Darin has clicked on the Outdoor Gear website. What should the marketing manager have already done to make sure the site works for Darin
Answers
The marketing manager can make the website work for Darin by;
Provide truly useful information.Keep Darin interested in Outdoor Gear's offerings.What is a website?A website is an online platform used to advertise a business, it a way to market the products of the company.
This can be helpful by providing the necessary information about the products on the website for consumers to see.
Learn more about website at;
https://brainly.com/question/25920220
Which members of OPEC would be the most likely to favor high oil prices now because of their small percentage of the world proven oil reserves
Answers
The members of OPEC that would be in favor of high prices due to the small oil reserves that they have would be the countries in Africa
EcuadorAngolaTunisiaGabonWhat is OPEC?This is an organization of the petroleum producing countries of the world.
Due to a rise in the oil prices now, these nations would most likely be favored in the sales of their products
Read more on OPEC here: https://brainly.com/question/26412451
Is it permissible to make a mark outside the boundary of the field of play?
Answers
Answer:
As an option, eight marks (“optional marks” or “hash marks”) may be added, just outside of the field of play and perpendicular to the perimeter lines, one each at the sideline and the end line, 10-yards from each corner. This is for the benefit of the referees to ensure the proper distance is maintained by defenders when a corner kick is taken.
Explanation:
To become a successful entrepreneur, you should:
Select one:
O Prepare to risk all of your family assets.
O Plan to quit your job before starting.
O Choose a business that is in a field you enjoy.
O Expect to put down a lot of money.
Answers
A major conflict of interest between top executives and owners is that top executives wish to diversify the firm in order to __________, whereas owners wish to diversify the firm in order to __________.
Answers
The major conflict between the top executive and owners is that the top executive wants to reduce their employment risks.
What is the cause of conflict between the top executive and owners in the business industry?In a business industry, the major cause of conflict between the top executive and the owners is due to the disparities in their objectives and goals.
While the top executive wishes to diversify the firm in order to reduce their employment risks, the owners wish to diversify the firm to increase the company's value. Both parties must come together with a cordial relationship to achieve a common goal.
Learn more about major conflicts in the business industry here:
https://brainly.com/question/26083560
The main goal of the ________ is to motivate employees to improve team- or company-level efficiency.
Answers
Answer:
ProMES
Explanation: