setting Started B ACCOUNTING FOR FIDUCIARY ACTIVITIES Seved Help Save & Exit Check m of 4 Required information The following information applies to the questions displayed below) The county collector of Suncoast County is responsible for collecting all property taxes levied by funds and governments within the boundaries of the county. To reimburse the county for estimated administrative expenses of operating the tax custodial fund, the custodial fund deducts 2.2 percent from the collections for the town, the school district, and the other towns. The total amount deducted is added to the collections for the county and remitted to the Suncoast County General The following events occurred during the year Hook 1. Current-year tax levies to be collected by the custodial fund were County General Pund Town of Bayshore General Pund Suncoast County Consolidated School District Other town Total $10,403,000 4,875,000 6,585,000 3.190.000 $25,053,000 Fences 2. $13,770,000 of current taxes was collected during the first half of the year 3. Liabilities to all funds and governments as a result of the first half-year collections were recorded. (A schedule of amounts collected for each participant, showing the amount withheld for the county General Fund and net amounts due the participants, is recommended for determining amounts to be recorded for this transaction) 4. All cash in the tax custodial fund was distributed. 5. All additions and deductions were recorded by the custodial fund. Additions and deductions are aggregated because resources are held less than three months. PAN 3 4 of 8 Next > 1 Required information Part 1 of 4 View transaction list 2.5 Dints Journal entry worksheet D Book Record the liabilities due to all funds and governments at the end of first half year. Print 0 Note: Enter debits before credits. References Transaction 3 Credit Debit 13,770,000 General Journal Due to Other Funds and Governments Due to County General Fund Due to Town of Bayshore Due to Suncoast County Consolidated School District Due to various Towns Record entry Clear entry View general Journal nc Taw Required information yu CIWMILOSTI HOIU 1 of 4 View transaction list Journal entry worksheet D Book Record the distribution of all cash in the tax custodial fund. Print o Note: Enter debits before credits erences Debit Credit Transaction General Journal 4 Due to County General Fund Due to Town of Bayshore Due to Suncoast County Consolidated School District Due to various Towns Cash Record entry Clear entry View general Journal Required information your WWW art 1 of 4 View transaction list 5 Ints Journal entry worksheet setting Started B ACCOUNTING FOR FIDUCIARY ACTIVITIES Seved Help Save & Exit Check m of 4 Required information The following information applies to the questions displayed below) The county collector of Suncoast County is responsible for collecting all property taxes levied by funds and governments within the boundaries of the county. To reimburse the county for estimated administrative expenses of operating the tax custodial fund, the custodial fund deducts 2.2 percent from the collections for the town, the school district, and the other towns. The total amount deducted is added to the collections for the county and remitted to the Suncoast County General The following events occurred during the year Hook 1. Current-year tax levies to be collected by the custodial fund were County General Pund Town of Bayshore General Pund Suncoast County Consolidated School District Other town Total $10,403,000 4,875,000 6,585,000 3.190.000 $25,053,000 Fences 2. $13,770,000 of current taxes was collected during the first half of the year 3. Liabilities to all funds and governments as a result of the first half-year collections were recorded. (A schedule of amounts collected for each participant, showing the amount withheld for the county General Fund and net amounts due the participants, is recommended for determining amounts to be recorded for this transaction) 4. All cash in the tax custodial fund was distributed. 5. All additions and deductions were recorded by the custodial fund. Additions and deductions are aggregated because resources are held less than three months. PAN 3 4 of 8 Next > 1 Required information Part 1 of 4 View transaction list 2.5 Dints Journal entry worksheet D Book Record the liabilities due to all funds and governments at the end of first half year. Print 0 Note: Enter debits before credits. References Transaction 3 Credit Debit 13,770,000 General Journal Due to Other Funds and Governments Due to County General Fund Due to Town of Bayshore Due to Suncoast County Consolidated School District Due to various Towns Record entry Clear entry View general Journal nc Taw Required information yu CIWMILOSTI HOIU 1 of 4 View transaction list Journal entry worksheet D Book Record the distribution of all cash in the tax custodial fund. Print o Note: Enter debits before credits erences Debit Credit Transaction General Journal 4 Due to County General Fund Due to Town of Bayshore Due to Suncoast County Consolidated School District Due to various Towns Cash Record entry Clear entry View general Journal Required information your WWW art 1 of 4 View transaction list 5 Ints Journal entry worksheet
