Question
Given the following account balances: Deferred inflows property tax at 9-30-16.......... 80,000 Property tax levy current year........................900,000 Encumbrances...........................................30,000 Deferred inflows property tax at 9-30-17........... 50,000
Given the following account balances:
Deferred inflows property tax at 9-30-16.......... 80,000
Property tax levy current year........................900,000
Encumbrances...........................................30,000
Deferred inflows property tax at 9-30-17........... 50,000
Estimated uncollectable taxes..........................2%
What amount is reported as REVENUES for the fiscal year 10-01-16 to 9-30-17?
A. $852,000 B. $900,000 C. $882,000 D. $912,000
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started
Accounting for Governmental and Nonprofit Entities
Authors: Jacqueline L. Reck, James E. Rooks, Suzanne Lowensohn, Daniel Neely
18th edition
1260190080, 1260190083, 978-1259917059
