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julsineya [31]
3 years ago
5

The Edward City Council approved and adopted the budget for its general fund for the fiscal year beginning on January 1, Year 2.

The budget contained the following amounts:
Estimated revenues $4,900,000
Appropriations 4,780,000

On November 1, Year 1, Edward City levied property taxes of $4,150,000 for the fiscal year beginning January 1, Year 2. It estimated that $25,000 will be uncollectible. Any payment of property taxes received during the discount period receives a 20% discount. During the discount period between the levy (October 15, Year 1) and the date (December 1, Year 1) that the levy became a legally enforceable claim, the city received $120,000 from property owners.

For each date below, select from the list provided the general fund accounts debited and credited for the journal entries for this property tax levy.
To prepare each required journal entry:

a. What is the journal entries for November 1, Year 1, if any?
b.What is the journal entries for November 30, Year 1, if any?
c. What is the journal entries for December 1, Year 1, if any?
d. What is the journal entries for January 1, Year 2, if any?
Business
1 answer:
Gala2k [10]3 years ago
4 0

Answer:

A.No entry is required

B.No entry is required

C.No entry is required

D.No entry is required

Explanation:

The Edward City Council

1. Record the journal entries for November 1, Year 1, if any.

No Entry Required

2. Record the journal entries for November 30, Year 1, if any.

No Entry Required

3. Record the journal entries for December 1, Year 1, if any.

No Entry Required

4. Record the journal entries for January 1, Year 2, if any.

No Entry Required

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Answer:

$98,165.14

Explanation:

Note: There are missing word but the full question is attached as picture below

Here, Initial Nominal Interest rate = 7%

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So, real return = 3%

Now, investors would want same real return

New inflation = (159 - 150)/150 *100 = 6%

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Price after 1 year = $107,000

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8 0
2 years ago
Mary is a new supervisor working with a preexisting staff that has resisted many of the new policies she has put into place. Mar
inna [77]

Answer:

by clearly state why the change is needed and how it will affect employees

Explanation:

An employee's resistance usually occurs when an employee feels insecure about changes or his position in the organization. A good leader must find out what are the main reasons why employees create resistance and thus devise a strategy to break down these barriers. In the case of supervisor Mary, clearly communicating about changes and the future of employees was effective in breaking down the barriers of employee insecurity about the changes that will occur in that company.

5 0
3 years ago
Adam is a traveling salesperson for Peter Petri Plumbing Supply Corp. Adam has express authority to solicit orders from customer
Juliette [100K]

Answer:

Explanation:

Liability of Petri:

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In the case under consideration, Adam explicitly gave a false representation of his authority to get more sales on his account and thus, Petri is NOT accountable to John on his terms with Adam.

Liability of John:

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In the case under consideration, John has failed to find the exact details on whether Adam has the authority to give a 10% discount. Thus, he is accountable to make the payment of $9500 in 30days.

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 Therefore, Reduce output is the correct answer.      

 

3 0
3 years ago
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Answer:

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5 0
2 years ago
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