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I am wondering if anyone out there can help me with this problem set. It's actually 5 problems in 1 (see attached). Problem 11 -
I am wondering if anyone out there can help me with this problem set. It's actually 5 problems in 1 (see attached). Problem 11 - all my journal entries are wrong including the amounts except for the first 3 account names only. All amounts are incorrect. Any help would be greatly appreciated!
c. Prepare journal entries for each of the foregoing entries that affected the Town of Bayshore General Fund. Begin with the tax levy entry, assuming 2 percent of the gross levy will be uncollectible. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field. Do not round intermediate calculations. Round your answers to the nearest whole dollar amount.) view transaction list view general journal Transaction 1 General Journal Taxes ReceivableCurrent Debit Estimated Uncollectible Current Taxes 206,660 Revenues 2 Cash 10,126,340 24,843,000 Taxes Receivable for Other Funds and GovernmentsCurrent 3 Due to Other Funds and Governments 24,843,000 13,700,000 Due to County General Fund 5,818,295 Due to Town of Bayshore 2,629,046 Due to Suncoast County Consolidated School District 3,557,903 Due to Various Towns 4 1,694,757 Due to County General Fund 5,818,295 Due to Town of Bayshore 2,629,046 Due to Suncoast County Consolidated School District 3,557,903 Due to Various Towns 1,694,757 Cash References Credit 13,979,592 13,700,000 eBook & Resources Journal Entries Difficulty: 2 Medium E8-18 Part c Learning Objective: 08-04 Explain the activities of and accounting and financial reporting for commonly used agency funds. Check my work Required a. Prepare journal entries for each of the foregoing transactions that affected the tax agency fund. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field. Do not round intermediate calculations. Round your answers to the nearest whole dollar amount.) view transaction list view general journal Journal Entry Worksheet 1 2 3 4 Record the current-year tax levies to be collected by the agency. Transaction General Journal Debit 1 *Enter debits before credits done References clear entry record entry eBook & Resources Journal Entries Difficulty: 2 Medium E8-18 Part a Learning Objective: 08-04 Explain the activities of and accounting and financial reporting for commonly used agency funds. Check my work b. Prepare journal entries for each of the foregoing transactions that affected the Suncoast County General Fund. Begin with the tax levy entry, assuming 4 percent of the gross levy will be uncollectible. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field. Do not round intermediate calculations. Round your answers to the nearest whole dollar amount.) view transaction list view general journal Journal Entry Worksheet 1 2 3 4 Record the revenues receivable and uncollectible. Transaction General Journal Debit 1 *Enter debits before credits explanation done References clear entry record entry eBook & Resources Journal Entries Difficulty: 2 Medium E8-18 Part b Learning Objective: 08-04 Explain the activities of and accounting and financial reporting for commonly used agency funds. Check my work c. Prepare journal entries for each of the foregoing entries that affected the Town of Bayshore General Fund. Begin with the tax levy entry, assuming 2 percent of the gross levy will be uncollectible. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field. Do not round intermediate calculations. Round your answers to the nearest whole dollar amount.) view transaction list view general journal Journal Entry Worksheet 1 2 3 4 Record the revenues receivable and uncollectible. Transaction General Journal Debit Credit 1 *Enter debits before credits done References clear entry record entry eBook & Resources Journal Entries Difficulty: 2 Medium E8-18 Part c Learning Objective: 08-04 Explain the activities of and accounting and financial reporting for commonly used agency funds. Check my work d. Which financial statements would be prepared by the tax agency fund? (Select all that apply.) Statement of net position. Statement of activities. Statement of cash flows. Combine with any other agency funds that Suncoast count has. References eBook & Resources Journal Entries Difficulty: 2 Medium E8-18 Part d Learning Objective: 08-04 Explain the activities of and accounting and financial reporting for commonly used agency funds. Check my workStep by Step Solution
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