The city council approved the following budget for 20X1: Expenditures: City Manager Police Department Fire Department. Streets
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The city council approved the following budget for 20X1:
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Expenditures: City Manager Police Department Fire Department. Streets and Roads Revenues: Property Taxes Fines and Fees Miscellaneous Prior years' levies... 20X1 levy..... Fines and fees. Taxes written off in prior years. 2. The council levied property taxes of $75,000. It was estimated that $2,000 of the taxes would never be collected. 3. Cash collected during the year may be summarized as follows: Interest... Service charges. $20,000 13,000 10,000 20,000 $63,000 4. With council approval, $5,000 was borrowed on a 90-day note. 5. Orders placed during the year were as follows: $75,000 5,000 5,000 $85,000 $45,000 46,000 4,000 500 500 2,000 $98,000
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Related Book For
Governmental And Nonprofit Accounting Theory And Practice
ISBN: 9780132552721
9th Edition
Authors: Robert J Freeman, Craig D Shoulders, Gregory S Allison, Terry K Patton, Robert Smith,
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