Question
Computation of a citys debt burden The following information is extracted from a city governments CAFR: Net direct debt $14,256,900 Overlapping debt $13,356,200 Population 14,567
Computation of a citys debt burden
The following information is extracted from a city governments CAFR:
| Net direct debt | $14,256,900 |
| Overlapping debt | $13,356,200 |
| Population | 14,567 |
| Full value of taxable real property | $532,929,100 |
Calculate the citys debt burden based on population and on full value of taxable real property. Make separate computations for (a) net direct debt and (b) combined net direct and overlapping debt. Round amounts to nearest dollar. Round percentages to two decimals.
| Debt burden: | a) Net direct debt | b) Combined direct and overlapping | ||
|---|---|---|---|---|
| Based on population | per capita | per capita | ||
| Based on full value of taxable real property | as % of property value | as % of property value |
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Managerial Accounting
Authors: Carl S. Warren, James M. Reeve, Jonathan Duchac
13th edition
978-1285868806, 1285868803, 978-1305691254, 978-1305465640, 1305465644, 978-1285866307
