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DiKsa [7]
3 years ago
11

A village levied property taxes of $910,000 for calendar year 2019 on january 1, 2019 and immediately set up an allowance of $10

,000 for uncollectible taxes. The village collected $870,000 in cash during 2019. It expected to collect $22,000 of the unpaid taxes during the first 60 days of 2020 and an additional $8,000 during the rest of 2020. How much should the village recognize as property tax revenues in its 2019 general fund financial statements?
Business
1 answer:
Phoenix [80]3 years ago
6 0

Answer:

The answer is $870,000.  

Explanation:

Land assessment and property charge are similar things. The IRS utilizes the expression "land assess", however the vast majority call it "property impose". Property (land) impose is charged on steady property. Land structures that are forever appended to the ground, for example, a house, building, or land. In the event that your loan specialist set up an escrow represent your home loan, every month you'll additionally make an escrow installment to cover your property assessments and mortgage holders protection. Your loan specialist will store this sum into your escrow account and will pay for both of these things for your benefit when they are expected.

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Quarter Inc. is an Italian company that set up its ventures in the United States. It sells watches—designed and manufactured in
spin [16.1K]

Answer: D

Explanation: Quarter Inc. cannot be legally charged because as a foreign entity, it is exempt from prosecution based on sovereign immunity. Once the defendant establishes that it is a foreign state, for the lawsuit to proceed, the plaintiff must prove that one of the Act's exceptions to immunity apply.

4 0
3 years ago
10. You have just deposited $1000 in an unusual bank account that pays interest biannually (once every 2 years). If the 2-year i
madam [21]

Answer:

FV= $1,259.71

Explanation:

Giving the following information:

Initial deposit (PV)= $1,000

Number of periods (n)= 3 biannual years

Interest rate (i)= 8% = 0.08

<u>To calculate the future value (FV), we need to use the following formula:</u>

FV= PV*(1+i)^n

FV= 1,000*(1.08^3)

FV= $1,259.71

6 0
3 years ago
Look at the following financial ledger which items listed on the ledger represent credits
Bogdan [553]

Answer:

The answer is B. Gift and online auction I hope this helps

Explanation:

3 0
3 years ago
True or false: you should measure the inputs to a restaurant process in customers and the outputs in dollars.
kondor19780726 [428]

You  should measure the inputs to a restaurant process in customers and the outputs in dollars is a false statement.

<h3>What is the flow of a restaurant?</h3>

This is known to be called the patron's flow and it is one that tends to originate from the entrance to the table of the host, and also   to the restrooms as well as the back out.

Note that Flow is seen as a form of volumetric flow rate and it is one that is  simply known to be the volume of fluid that moves per unit of time.

Therefore, saying that you should measure the inputs to a restaurant process in customers and the outputs in dollars is a false statement.

Learn more about restaurant process from

brainly.com/question/14672240

#SPJ1

3 0
1 year ago
A company is offering to pay a stadium for naming rights. If the administrative costs for this sponsorship are $78,000, and thes
docker41 [41]

Answer:

The amount of $71,760  , is offered by the company for the stadium naming rights.

Explanation:

As the total cost for the sponsorship is $78,000 but the cost has 8% revenue for the naming sponsorship. Therefore,

= Amount × % of revenue

= $78,000 × 8%

= $6,240

In order to compute the amount which is offered to pay for the stadium rights, the revenue amount to be deducted from the administrative cost:

= Cost - Revenue

= $78,000 - $6,240

= $71,760

6 0
3 years ago
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