Journal entry for property taxes and allowance

Assignment Help Accounting Basics

Reference no: EM1357425

The post-closing trial balance of the Winston County General Fund included the following ledger account balances on June 30, 2005:

Taxes receivable-delinquent $30,200 dr

Allowance for uncollectible delinquent taxes 1,300 cr

The property taxes assessment for the fiscal year ending June 30, 2006, totaled $640,000; 4% of Winston County's property taxes assessment has been uncollectible in past fiscal year.

Prepare a journal entry for the taxes of Winston County's General Fund on July 1, 2005, the date on which the property taxes for the fiscal ending June 30, 2006, were billed to taxpayers.

Reference no: EM1357425

Questions Cloud

Psychological or neurodevelopmental disorder : Compare and contrast three therapeutic interventions used to treat this disorder. Compare measures of effectiveness, such as validity, efficacy, symptom and behavior management, and recidivism.

Explain what is the amount of martina''s standard deduction : Explain paid the full cost of maintaining her dependent father in a home for the aged for the entire year and Explain What is the amount of Martina's standard deduction

Describe servant leadership discussion : Middle class management and the executive leadership does not embrace servant leadership and how much impact can the servant leader have

Determine current value of the company stock : A corporation is not expected to generate a FCF over the next four years. Five years from now, the company anticipates that it will generate a FCF of $1.

Journal entry for property taxes and allowance : Prepare a journal entry for the taxes of Winston County's General Fund on July 1, 2005, the date on which the property taxes for the fiscal ending June 30, 2006, were billed to taxpayers.

How would change if the box were sliding up the plane : The spheres are given the same electric charge Q and it is found that they come to equilibrium when each string is at an angle of 5 with the vertical. Each string is 30 cm long.

Design application that reads arbitary number of integers : Design and implement an application that reads an arbitary number of integers that are in the range of 0 to 50 inclusive and counts how many occurences of each are entered.

Capital market line and the security market line : Determine how does the use of indifference curves help determine which portfolio an investor would choose on the efficient frontier? What do the indifference curves implies about an investor's willingness to bear risk?

Explain how do these areas of capital interrelate : Explain How do these areas of capital interrelate in your organization and How do these areas of capital support the overall area of strategy of your organization

User Account

All Pages