Reference no: EM132686987
Question - The following is related to the town of Coupland (dollar amounts in thousands):
Property taxes levied and collected $6,300
Hotel taxes (restricted to promotion of tourism) collected $1,200
Proceeds of bonds to build a parking garage that must be repaid from user charges $4,000
Proceeds of general obligation bonds to ?nance construction of a new city hall; the building, which was completed during the year, has a useful life of 30 years with no salvage value $9,000
Equipment used in a vehicle repair service that provides service to other departments on a cost-reimbursement basis; the equipment has a 10-year life with no salvage value $1,400
Fees charged to, and collected from, customers by the electric utility $8,000
Determine revenue to be recognized in special revenue funds.
a. $2,200
b. $1,200
c. $1,000
d. $2,400