Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Custodial Fund In compliance with a newly enacted state law, Dial County assumed the responsibility of collecting all property taxes for the county, as well

Custodial Fund In compliance with a newly enacted state law, Dial County assumed the responsibility of collecting all property taxes for the county, as well as Eton City and Bart Township within the county, as of July 1, 2023. A composite property tax rate per $1,000 of assessed valuation was developed for the fiscal year ending June 30, 2024: Dial County general fund $ 60 Eton City general fund 30 Bart Township general fund 10 Composite tax rate $ 100 When collected, the property taxes are distributed to the governmental units. Dial County established a tax custodial fund to administer collection and distribution of taxes. Additional information: To reimburse Dial County for administrative costs of operating

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Audit Accountability And Government

Authors: Fidelma White, Kathryn Hollingsworth

1st Edition

0198262329, 978-0198262329

More Books

Students also viewed these Accounting questions

Question

what would you advise the company to do?

Answered: 1 week ago