How to Report each Transaction

Analyze the effects of the following transactions on the accounting equations of the district's numerous fund and nonfunded accounts. (Include any required year-end interest accruals in your answers.)

Indicate how each transaction should be reported in the operating statement for each affected fund. Identify both the fund and the operating statement

• The school district levied $135,000,000 in property taxes for the fiscal year, of which $1,890,000 is expected to be uncollectible; $130,500,000 of the 20X6 levy was collected by the end of the fiscal year. During the first 60 days of the subsequent fiscal year, no taxes from 20X6 or earlier years were collected.