Business, 25.04.2020 00:57 paulasuarez8276

The City of Casper levied property taxes for 2017 in the amount of $9,000,000. By the end of the year, $7,200,000 had been collected. It was estimated that $500,000 would be collected during the next 60 days of 2017 and that $240,000 would be collected after that and the remainder would be uncollectible. The City has a policy of recognizing the full amount possible for property taxes. Which of the following statements is true?
a) the amount reported for property tax revenue in the government-wide statement of activities would be $7,700,000.b) the amount reported for property tax revenue in the governmental fund statement of revenues, expenditures, and changes in fund balances would be $7,940,000.c) both a and b. d) none of the above.

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The City of Casper levied property taxes for 2017 in the amount of $9,000,000. By the end of the yea...

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