FILL OUT ENTRY FOR 8-B-6
Brandon Rickman BR Share Comments Autosum AutoSave C - Copy of City of Corvallis mod 5(1001) (1) (2) - Excel File Home Insert Draw Page Layout Formulas Data Review View Help Search X Out Segoe UI 10 ~ A A == 89 Wrap Text Ceneral LECopy Peste E BIU, Format Painter Conditional Format as Cell Merge Center $ % -8 Formatting Table Styles Clipboard Font Alignment Number Styles SIGN IN TO OFFICE It looks like your stored credentials are out of dale. Please sign in as bjrickman@crimson.ua.edu so we can verify your subscription. Sign In M EX Insert Delete format 28 O 4 Ideas Sensitivity Clear Sort & Find & Filter Select Edting Cels dias Sanat sity H1113 - H 1 J K M N P Tax Levy 1,391,540 1,391,540 419.124 7,753,791 A B D E F G 10961 Tax Rate 1097 (Per $100 Assessed 1098 Governments/Funds of Assessed Valuation) Valuation 1099 City of Corvallis: 1100 General Fund (GF) $ 0.56 $ 248,489,290 $ 1101 Tolalcily vale and levy 5 0.56 $ 1102 Corvallis SD: 1103 General Fund (GP) $ 2.45 $ 299,374,170 $ 1104 Debl service lund $ 0.14 $ 299,374 170 $ -------- 1105 Total CSD rate and levy $ 2.59 $ 1106 Benton County: 1107 General Fund (GD $ 0.27 $376,111,250 $ 1108 County Road and Bridge Fund $ 0.33 $ 376,111,250 $ 1109 Total county rate and levy $ 0.60 $ 1110 Benlon County FPD 1111 General Fund (GF $ 0.90 $ 127,375,970 $ 11121 Fire Station Construction Fund $ 035 $ 127,375,970 $ 1113 Tolal county FPD rale and levy $ 1.25 $ 1114 Grand Total tax rates and levies* $ 5.00 $ 1115 11161 * Note: Each property owner will receive a tax bill equal to the tax rates of all taxing authorities 1117 that have jurisdiction over his/her property times the assessed valuation of his/her property. 1118 Shown above are the aggregate taxes levied by each government, which are also the total 1119 arounts billed by the Tax Agency Fund (AF) to all taxpayers in each jurisdiction. 1120 1121 Record the following transactions that occurred during 2018 in the general journal of the Tax Assignment Instructions Workbook Instructions GF CP DS EF AF GW + 1,015,500 1,241,167 2,256,667 1,116,381 445,816 1,592,200 12,994,198 Screenshot saved The screenshot was added to your OneDrive. OneDrive P la 4: 10:01 AM Brandon Rickman BR Share Comments Autosum AutoSave C - Copy of City of Corvallis mod 5(1001) (1) (2) - Excel File Home Insert Draw Page Layout Formulas Data Review View Help Search X Out Segoe UI 10 ~ A A 89 Wrap Text Ceneral LECopy Peste BIU H E Conditional Format as Cell Format Painter $ % -8 Merge Center Formatting Table Styles Clipboard Font Alignment Number Styles SIGN IN TO OFFICE It looks like your stored credentials are out of dale. Please sign in as bjrickman@crimson.ua.edu so we can verify your subscription. Sign In M EX Insert Delete format 28 O 4 Ideas Sensitivity Clear Sort & Find & Filter Select Edting Cels dias Sanat sity H1113 - 1 J K M N P B D E F H 1188 Tax Agency Fund (AF) general journal. See problem 8-b-2 for an example (except remember you 1189 are collecting current taxes receivable, not delinquent.) 1190 1191 5 [8-b-5) All cash collected in paragraph 8-6-1 was transferred to the other funds 11921 and governments, adjusted for collection fees deducted or added. 1193 1194 6 (8-b-6] Taxing authorities notified the tax administrator that delinquent property 1195 taxes in the amount of $110,690 and related interest and penalties in the amount of 1196 $11,620 ($122.310 in lolay have been willen oll as uncollectible. Record the total 1197 amounts in the general journal by debiting Due to Other Funds and Governments and 1198 crediting Taxes Receivable-Delinquent for Other Funds and Governments. (Note: The 1199 lax administrator updales the delailed lax ledyer records for these wrile olls. Also, there is no separale 1200 Interest and Penalties Receivable account and these are just reflected in the 'Taxes Receivable - Delinquent" balante) 1201 1202 7 [8-6-7] Make the year-end journal enliy lo reclassily all uncollected current laxes 1203 as delinquent and to record a receivable for interest and penalties of 8 percent on the 1204 reclassified amount (round amount to nearest whole dollar). The interest and penalties 1205 portion of the lolal amount should be debiled lo Taxes Receivable for Other Furids and 1206 Governments-Delinquent and credited to Due to Other Funds and Governments. You 1207 need only record the aggregate amounts reclassified in the general journal; the tax 1208 administrator will updale the delailed lax ledger records for these reclassifications. 1209 1210 c. When you have completed making the entries, verify their accuracy by making sure both Check Fig columns 1211 equal $0 in the ledger. Also review the trial balance lo ensure that your signs are correct 1212 (i.e. assets don't have credit balances, revenues don't have debit balances etc). 1213 Once you are satisfied with all of your balances/entries submit your entire workbook 1214 Assignment Instructions Workbook Instructions GFCP CP DS EF AF GW 1009 D 48 A 10:01 AM Brandon Rickman BR Share Comments Autosum AutoSave C - Copy of City of Corvallis mod 5(1001) (1) (2) - Excel File Home Insert Draw Page Layout Formulas Data Review View Help Search X Out Segoe UI 10 ~ A A == 89 Wrap Text Ceneral LECopy Peste E BIU, Format Painter Conditional Format as Cell Merge Center $ % -8 Formatting Table Styles Clipboard Font Alignment Number Styles SIGN IN TO OFFICE It looks like your stored credentials are out of dale. Please sign in as bjrickman@crimson.ua.edu so we can verify your subscription. Sign In M EX Insert Delete format 28 O 4 Ideas Sensitivity Clear Sort & Find & Filter Select Edting Cels dias Sanat sity H1113 - H 1 J K M N P Tax Levy 1,391,540 1,391,540 419.124 7,753,791 A B D E F G 10961 Tax Rate 1097 (Per $100 Assessed 1098 Governments/Funds of Assessed Valuation) Valuation 1099 City of Corvallis: 1100 General Fund (GF) $ 0.56 $ 248,489,290 $ 1101 Tolalcily vale and levy 5 0.56 $ 1102 Corvallis SD: 1103 General Fund (GP) $ 2.45 $ 299,374,170 $ 1104 Debl service lund $ 0.14 $ 299,374 170 $ -------- 1105 Total CSD rate and levy $ 2.59 $ 1106 Benton County: 1107 General Fund (GD $ 0.27 $376,111,250 $ 1108 County Road and Bridge Fund $ 0.33 $ 376,111,250 $ 1109 Total county rate and levy $ 0.60 $ 1110 Benlon County FPD 1111 General Fund (GF $ 0.90 $ 127,375,970 $ 11121 Fire Station Construction Fund $ 035 $ 127,375,970 $ 1113 Tolal county FPD rale and levy $ 1.25 $ 1114 Grand Total tax rates and levies* $ 5.00 $ 1115 11161 * Note: Each property owner will receive a tax bill equal to the tax rates of all taxing authorities 1117 that have jurisdiction over his/her property times the assessed valuation of his/her property. 1118 Shown above are the aggregate taxes levied by each government, which are also the total 1119 arounts billed by the Tax Agency Fund (AF) to all taxpayers in each jurisdiction. 1120 1121 Record the following transactions that occurred during 2018 in the general journal of the Tax Assignment Instructions Workbook Instructions GF CP DS EF AF GW + 1,015,500 1,241,167 2,256,667 1,116,381 445,816 1,592,200 12,994,198 Screenshot saved The screenshot was added to your OneDrive. OneDrive P la 4: 10:01 AM Brandon Rickman BR Share Comments Autosum AutoSave C - Copy of City of Corvallis mod 5(1001) (1) (2) - Excel File Home Insert Draw Page Layout Formulas Data Review View Help Search X Out Segoe UI 10 ~ A A 89 Wrap Text Ceneral LECopy Peste BIU H E Conditional Format as Cell Format Painter $ % -8 Merge Center Formatting Table Styles Clipboard Font Alignment Number Styles SIGN IN TO OFFICE It looks like your stored credentials are out of dale. Please sign in as bjrickman@crimson.ua.edu so we can verify your subscription. Sign In M EX Insert Delete format 28 O 4 Ideas Sensitivity Clear Sort & Find & Filter Select Edting Cels dias Sanat sity H1113 - 1 J K M N P B D E F H 1188 Tax Agency Fund (AF) general journal. See problem 8-b-2 for an example (except remember you 1189 are collecting current taxes receivable, not delinquent.) 1190 1191 5 [8-b-5) All cash collected in paragraph 8-6-1 was transferred to the other funds 11921 and governments, adjusted for collection fees deducted or added. 1193 1194 6 (8-b-6] Taxing authorities notified the tax administrator that delinquent property 1195 taxes in the amount of $110,690 and related interest and penalties in the amount of 1196 $11,620 ($122.310 in lolay have been willen oll as uncollectible. Record the total 1197 amounts in the general journal by debiting Due to Other Funds and Governments and 1198 crediting Taxes Receivable-Delinquent for Other Funds and Governments. (Note: The 1199 lax administrator updales the delailed lax ledyer records for these wrile olls. Also, there is no separale 1200 Interest and Penalties Receivable account and these are just reflected in the 'Taxes Receivable - Delinquent" balante) 1201 1202 7 [8-6-7] Make the year-end journal enliy lo reclassily all uncollected current laxes 1203 as delinquent and to record a receivable for interest and penalties of 8 percent on the 1204 reclassified amount (round amount to nearest whole dollar). The interest and penalties 1205 portion of the lolal amount should be debiled lo Taxes Receivable for Other Furids and 1206 Governments-Delinquent and credited to Due to Other Funds and Governments. You 1207 need only record the aggregate amounts reclassified in the general journal; the tax 1208 administrator will updale the delailed lax ledger records for these reclassifications. 1209 1210 c. When you have completed making the entries, verify their accuracy by making sure both Check Fig columns 1211 equal $0 in the ledger. Also review the trial balance lo ensure that your signs are correct 1212 (i.e. assets don't have credit balances, revenues don't have debit balances etc). 1213 Once you are satisfied with all of your balances/entries submit your entire workbook 1214 Assignment Instructions Workbook Instructions GFCP CP DS EF AF GW 1009 D 48 A 10:01 AM
