Question
Question 26 options: At the beginning of 2022, the balance sheet of Clarke County general fund reports $500,000 in property taxes receivable from 2021, of
Question 26 options:
At the beginning of 2022, the balance sheet of Clarke County general fund reports $500,000 in property taxes receivable from 2021, of which $350,000 are considered uncollectible.
During 2022 the county sends out tax bills in the amount of $10,000,000, of which $600,000 are expected to be uncollectible. Cash collections on 2021 taxes are $140,000, and the remaining uncollected taxes are written off.
Cash collections on 2022 taxes are $9,500,000.
Of the $500,000 uncollected at the end of 2022, $100,000 are expected to be collected within 60 days, $65,000 are expected to be collected more than 60 days after year-end, and the rest are uncollectible.
What are total property tax revenues for 2022, related to 2022 tax bills? (do not use $ signs, commas, or decimals in your answer)
What is the ending balance in "Deferred Inflows of Resources as of 12/31/2022? (do not use $ signs, commas or decimals in your answer)
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