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What would be the amount of the gross levy for property taxes




Submit your responses to the following questions in a 1 page summary MSWord document. Please make sure your responses are well written, and have the proper citation, if needed.;1. If the General Fund of a certain city needs $6,720,000 of revenue from property taxes to finance estimated expenditures of the next fiscal year and historical experience indicated that 4% of the gross levy will not be collected, what should be the amount of the gross levy for property taxes? Please show all computations in good form.;2. How does one determine whether a particular lease is a capital lease or an operating lease? What entries are required in the general journals of a government fund and governmental activities at the government-wide level to record a capital lease at its inception?


Paper#25578 | Written in 18-Jul-2015

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