Please explain in detail..(the mathematical amount)
93. A city levies a 2 percent sales tax that is collected for them by the state. Sales taxes must be remitted by the merchants to the state by the twentieth day of the month following the month in which the sale occurred. The state has a policy of remitting sales taxes to the city within 30 days of collection by the state. Cash received by the state related to sales taxes is as follows th Amount received 1/20/14, applicable to December 2013 sales Amount received 2/20/14, applicable to January 2014 sales Amount received 3/20/14, applicable to February 2014 sales $100 O f $380 $110 Amount received during 2014 related to March-November 2014 sales Amount received 1/20/15 for December 2014 sales Amount received 2/20/15 for January 2015 city cha Amount received 3/20/15 for February 2015 Assuming the city uses the same period to define "available" as the maximum period allowable for property taxes, what amount should it recognize as sales tax revenue in its government-wide financialy statements for the fiscal year ended 12/31/14? a) $430. b) $530. c) $540. d) ss50 ran ering ch 90. A city levies a 2 percent sales tax. Sales taxes must be remitied by the merchants to the City by the | twentieth day of the month following the month in which the sale occurred. Cash received by the city related to sales taxes is as follows: Amount received 1/20/14, applicable to December 2013 sales Amount received 2/20/14, applicable to January 2014 sales Amount received during 2014 related to February-November 2014 sales Amount received 1/20/15 for December 2014 sales Amount received 2/20/15 for January 2015 $100 S. 30 $400 $110 ay e cit 0 fis On city chase e-ye rance ering Assuming the city uses the same period to define "available" as the maximum period allowable for property taxes, what amount should it recognize in the governmental fund financial statements as sales tax revenue for the fiscal year ended 12/31/14? a) $430 b) $530. c) $540. d) $550. 95. During 2014, a state has the following cash collections related to state income taxes Payroll withholdings and estimated payments related to 2014 income 4/15/14 Balance of 2013 (net of $10 refunds) income taxes 1/15/15 payroll withholdings and estimated payments related to 2014 income 2/15/15 payroll withholdings and estimated payments related to 2014 income 3/15/15 payroll withholdings and estimated payments related to 2014 income 4/15/15 Balance of 2014 (net of $5 refunds) income taxes S360 $ 40 30 S 35 S 25 S 45 Assuming that the state defines "available" as the maximum period allowable for property taxes, what is the amount of revenue that will be recognized in the 2014 government-wide financial statements related to state income taxes? cit cha a) $400. b) $475 c) $430 d) $465. E) 495 eri
