Question
Record the following property tax transactions for the town of Smithtown: January 15t h : Levied property taxes of $12,000,000. Smithtown estimates 4% of property
Record the following property tax transactions for the town of Smithtown: January 15t h : Levied property taxes of $12,000,000. Smithtown estimates 4% of property taxes
uncollectible.
February 15t h : Collects $8,500,000 in property taxes.
February20th Re-assesses Taylors property and reduces the tax bill from $50,000
March 15t h Re-classifies outstanding property taxes from current to delinquent.
May 10t h : Pleasantville places a lien on Jones property for $200,000 in outstanding property taxes.
June30th: Pleasantville sells Jones property at auction for $250,000.
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Between The Lines Of The Balance Sheet The Plain Mans Guide To Published Accounts
Authors: Michael Greener
2nd Edition
0080240712, 9780080240718
