answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
ludmilkaskok [199]
1 year ago
5

The General Fund levies property taxes in the amount of $1,000,000 for calendar year 2019. It expects to collect $950,000 during

the year, $30,000 in the first 60 days of the next year, and $15,000 during the rest of the next year. It does not expect to collect the remaining $5,000. How much property tax revenue should it recognize for the year 2019?
Business
1 answer:
Musya8 [376]1 year ago
8 0

Answer:

Under the accrual basis, it should recognize $1,000,000 as property tax revenue for the year 2019.  The remaining $45,000 that it does not collect in year 2019 will be accounted for as Property Tax Receivable while the $5,000 will be recorded as Uncollectible Expense in 2019.

Explanation:

The accrual concept or basis of accounting requires that all revenues and expenses relating to a fiscal year be recognized in that accounting year.  It is not only the actual cash receipts and payments that should be recognized.  This means that any revenue that is due but not yet received will be accounted for in the year that the revenue arises.  And all the related expenses for raising the revenue will also be accounted for in the same year.

You might be interested in
During 2009, a particular country's inflation rate averaged 1.3% a day. This means that on average, prices went up by about 1.3%
horrorfan [7]
<span>29 days of 1.3% inflation. Convert to relative increase: (1+0.013) = 1.013. (1.013)^29 -1 = 45.43% (the effect of compounding) 45%.</span>
4 0
2 years ago
A consultant hired by your organization has advised your manager to increase his team's cohesiveness. he asks you, "what benefit
Natalija [7]

Answer:

  • <u>Members of teams with high cohesiveness feel higher loyalty to the team and have better job satisfaction.</u>
  • <u>Teams with high cohesiveness are generally more productive due to the energizing effect of regular interaction among team members.</u>

Explanation:

Remember, cohesiveness looks at the degree to which team members <em>stick</em> together in times of difficulties.

Also cohesive teams are good communicators; they would involve in regular interactions among team members, an attitude which when applied to an organisation setting would increase the team's productivity.

7 0
2 years ago
Read 2 more answers
Fedex developed a 12-item statistical service quality indicator to measure customer satisfaction and service quality. the index
nikitadnepr [17]

Answer:

The correct option is B: Gap 2

Explanation:

The gaps model of service quality, which is also referred to as the 5 gaps model is a vital framework used by organization to ensure customer satisfaction. The Gap 2 model is normally between the perception of the management and what the actual experience of the customer is. In the Gap 2, managers always ensure that organization are delivering and defining the level of quality service they need. From the question Fedex is dealing with actual customer-defined performance standards and this indicates that they are a closing provider of the gap 2 of the gaps model of service quality.

8 0
2 years ago
Ethical behavior is a subset of which skillset?
Anna71 [15]

Answer:

C). Professional Conduct

Explanation:

Ethical behavior is characterized as the obedience of moral principles like fairness, honesty, and equity. Such behavior recognizes the individual diversity and offers equal rights and respect to the dignity and integrity of every individual. It is one of <u><em>the significant aspects of 'professional conduct' which promotes professionalism, healthy work relationships, mutual understanding, and maximize the output</em></u>. Thus, <u>option C</u> is the correct answer.

7 0
1 year ago
Robinson Company purchased Franklin Company at a price of $2,500,000. The fair market value of the net assets purchased equals $
Fed [463]

Answer:

Explanation:

Goodwill is defined as the excess in amount of the purchase price of a company over the fair value at acquisition.It is intangible in nature , meaning it can not be physically separated from the other assets. Example are patent , brand name , good employee relation.

1.

Goodwill calculation

Purchase price - $2,500,000

Fair value -          $1,800,000

Goodwill -               $700,000        

2.

No

Under the IAS 36, impairment of assets , goodwill is not amortized but annually tested for impairment as amortization is applicable to intangible assets with a definite useful life while intangible assets with indefinite useful life are annually tested for impairment to evaluate a loss in value experienced.

3

No

Under IAS 38 , Internally generated goodwill are not recognized as no related cost is incurred towards achieving a future benefit

7 0
1 year ago
Other questions:
  • Which type of learning situation is one in which the consumer is motivated to process or learn the material? explicit learning i
    7·1 answer
  • Imagine you have just bought some property and notice that the trees on the slope have curved trunks. what type of landslide eve
    8·1 answer
  • Sam has decided to buy a burger and fries at a​ restaurant, but he is considering whether to buy a drink as well. Suppose the pr
    12·1 answer
  • he cost for producing a certain product is $37 each. The fixed costs are $70,000. The selling price for each product is $72. 1.
    6·1 answer
  • After graduating this May, Dale is planning on buying a new Ferrari for $250,000. He decides to finance his new car with a 5 yea
    10·1 answer
  • This month your vendor invoiced $31,500 in testing charges for your production run. The unit cost for testing is twice as much f
    6·1 answer
  • Jenna is the beneficiary of a fund of 20,000 that pays her 1,000 at the end of each month. The fund earns 6% compounded monthly.
    7·1 answer
  • The Yurdone Corporation wants to set up a private cemetery business. According to the CFO, Barry M. Deep, business is "looking u
    10·1 answer
  • Freytag Corporation's variable overhead is applied on the basis of direct labor-hours. The company has established the following
    14·1 answer
  • Southwick Products manufactures its products in two separate​ departments: Machining and Assembly. Total manufacturing overhead
    12·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!