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On July 1, 2017, the beginning of its fiscal year, Ridgedale County recorded gross property tax levies of $4,200,000. The county estimated that 5 percent of the taxes levied would be uncollectible. As of April 30, 2018, the due date for all property taxes, the county had collected $3,900,000 in taxes. The county im-posed penalties and interest in the amount of $14,500 but only expects to collect $12,800 of that amount. At the end of the fiscal year (June 30, 2018), the county had collected $53,000 in delinquent taxes and $4,800 in interest and penalties on the delinquent taxes. Required a. Prepare journal entries to record the tax levy on July 1, 2017, in the General Fund. (Ignore all entries in the governmental activities journal.) b. Prepare a summary journal entry to record the collection of taxes as of April 30. c. Prepare the journal entry necessary to reclassify the uncollected tax amounts as delinquent. d. Prepare the journal entry necessary to record interest and penalties. e. Prepare a summary journal entry to record the collection of delinquent taxes, interest, and penalties.
Calculate the returns to scale, marginal productivity, and state which of the functions defines a convex feasible region over their entire usage?
For Canada, the expenditure effect generated by the U.S. tax cut and the spillover effects of increased defence spending will push the Canadian economy further into an economic recovery.” a) How will the U.S. tax cut and the increased U.S. defence sp..
A process plant making 4000 tons per year of a product selling for $0.80 per kg has annual direct production costs of $2 million at 100 percent capacity and other fixed costs of $700,000. Construct the break-even chart for the process. Determine the ..
In The Wealth of Nations, Adam Smith wrote, "Every individual endeavors to employ his capital so that its produce may be of greatest value. He generally neither intends to promote the public interest, nor knows how much he is promoting it.
Laptops have also become easier also cheaper to produce as latest technology has come online.
Wages in the United States vary in every state, because each state has different minimum wages, but the best to my knowledge wages are determined and priced for every field profession and its factors. Is it possible you might revisit your thought on ..
The data in the table below are the results of a random sample of recent home sales in your neighborhood that your boss has asked you to use to estimate the relationship between the selling price of the house and the number of square feet in it.
Explain how does the capital/financial account differ from the current account. Give examples of what is included in each.
q.suppose that the us government determines that cigarette smoking creates social cost not reflected in the current
What is the optimality condition for the maximization of the utility function U (x,y) = xy^3 and the prices (Px,Py) = (2,.0.5)? Using the utility function and optimality condition from the previous question, If M = 40 what are the utility-maximizing..
When China reformed state-owned enterprises, it tried a new approach to choosing managers: it put managerial jobs up for auction. The bids for the jobs consisted of promises of future profit streams that the managers would generate and then deliver t..
What would happen to GDP if the government hired unemployed workers, who had been amount $TR ain unemployment benefits, as government employees and now paid them $TR to do nothing? Explain.
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