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Lena [83]
3 years ago
14

A special tax was levied by Downtown City to retire and pay interest on general obligation bonds that were issued to finance the

construction of a new city hall. Where are the receipts from the tax recorded?
a. Capital Projects Fund
b. Special Revenue Fund
c. Debt Service Fund
d. General Fund
e. None of the above
Business
1 answer:
jonny [76]3 years ago
5 0

Answer:

C. Debt Service Fund.

Explanation:

Dept service funds can be described as monies or reserves which are been used to pay for capitals, interest and certain dept that have accrued by the company and it can cover for any other form of dept owed by the company.

It's existence is put in place to reduce the risk of a debt security for future investors. This can be paid out monthly mid-monthly, quarterly or possibly yearly.

This why the tax on general obligation bonds that has been put upon Downtown city to finance the hall has it receipts in place at the dept service fund office.

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REY [17]

Answer:

The maquiladora industry has not created much employment in Mexico because most of the production is capital intensive

Explanation:

maquiladora industry in Mexico are company that allow industries to perform production by converting raw materials into finished product for exportation and for local use by making this industry a "Tax- free". or making them to have duty free. Examples of maquiladora industry are

Acer Peripherals, Bali Company, Inc.

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What is one way to speed up the acquisition of a classically conditioned response?
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3 years ago
Exercise 20-18 Budgeted cash receipts LO P2 Jasper Company has sales on account and for cash. Specifically, 70% of its sales are
horsena [70]

Answer:

$1,756,600.

Explanation:

                                         P2 Jasper Company

                                     Budgeted cash Receipt

                                           For the 2nd quarter

                                                           April                   May                  June

Accounts Receivable                        $400,000

70% in the month of Sale                  $367,500          $374,500      $392,000

30% in the month after Sale                                        $110,250        $112,350

Budgeted cash receipt                     $767,500           $484,750       $504,350

Total budgeted cash receipt for the 2nd quarter = $767,500 + $484,750 + $504,350 = $1,756,600.

30% in the month after sale means 30% amount will be received in the following month.

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