toCakulate the propertythe budgetarytax Rate requireddemands of the Community.MeetNote when Calculating budgetary demands alwaysRound(Roundanswerto two decimalyourplaces?Property Tax RateTotal taxes Percent Per 100 in $ Per 1,000In $1CommunityTotal AssessedEllingham Property Valuation Required$ 54,000,000 $2,900,000↑ 1Mills

Property tax is a tax paid on assets owned via means of a person or a different prison entity,…

Calculate the tax property Rate Meet the required to budgetary demands of the demands of the Community. Note when Calculating budgetary demands always Round up. (Round answer two decimal your places)? 40 Property Tax Rate Total taxes Percent Per 100 in # Per 1,000 Community Total Assessed Ellingham Property Valuation Required 54,000,000 $2,900,000 Mills

Calculate the tax property Rate Meet the required to budgetary demands of the demands of the Community. Note when Calculating budgetary demands always Round up. (Round answer two decimal your places)? 40 Property Tax Rate Total taxes Percent Per 100 in # Per 1,000 Community Total Assessed Ellingham Property Valuation Required 54,000,000 $2,900,000 Mills

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

Calculate the property tax rate required to meet the budgetary demands of the community. Note: When calculating budgetary demands, always round up. (Round your answers to two decimal places.) Property Tax Rate Total Assessed Total Community Property Valuation Taxes Per $100 (in $) Per $1,000 (in $) Required Percent Mills 0.0049085 X $ 0.0049085 $ 0.049085 0.049085 Morningside $656,000,000 $32,200,000 %
Calculate the property tax rate required to meet the budgetary demands of the community. Note: When calculating budgetary demands, always round up. (Round your answers to two decimal places.) Property Tax Rate Total Assessed Total Taxes Community Property Valuation Required Per $100 Per $1,000 (in $) Percent Mills (in $) Morningside $656,000,000 $32,200,000 % $ $
10. Calculate the property tax rate required to meet the budgetary demands of the community. Note: When calculating budgetary demands, always round up. (Round your answers to two decimal places.) Community Total AssessedProperty Valuation Total TaxesRequired Property Tax Rate Percent? Per $100(in $)? Per $1,000(in $)? Mills? Morningside $653,000,000 $32,100,000 % $ $
Show the solution in good accounting form. Thank you! 1. What is the actual return on plan assets for the current year? a. ₱ 100,000 b. ₱ 430,000 c. ₱ 370,000 d. ₱ 400,000
Required information [The following information applies to the questions displayed below.] The following capital expenditure projects have been proposed for management's consideration at Scott Inc. for the upcoming budget year: Use Table 6-4 and Table 6-5. (Use appropriate factor(s) from the tables provided. Round the PV factors to 4 decimals.) Project Year (s) D E $ (25,000) 5,000 5,000 5,000 5,000 5,000 5,000 $ 1,081 $ (25,000) $ (50,000) $ (50,000) 5,000 10,000 15,000 20,000 25,000 Initial investment $(100,000) 30,000 30,000 Amount of net cash return 16,000 16,000 16,000 16,000 16,000 10,000 15,000 10,000 10,000 6,000 15,000 15,000 5 Per year 6-10 15,000 NPV (14% discount rate) $ 2,942 Present value ratio 1.04 b. Calculate the present value ratio for projects B, C, D, and E. (Round your answers to 2 decimal places.) Project Present Value Ratio B D E
Please calculate capital allowance using declining balance method with the following information: Details of the Fixed Assets: Details Cost NBV Tax Written Down As at 31 Dec 2021 As at 31 Dec 2021 Value as at 1 Jan 2021Motor Vehicles 10,00,000 7,200,000 7,000,000Equipment 15,000,00 12,00,000 6,713,335Office buildings 45,000,000 36,000,000 36,450,000 Included in the cost of motor vehicle is a lorry purchased on 1 April 2021 for $2,000,000…
Relationship between budgetary fund balance and actual fund balance The Village of Albert’s Alley recorded the following budgetary journal entry at the beginning of fiscal 2022: Estimated revenue 5,000,000 Appropriations 4,950,000 Budgetary fund balance 50,000 At the end of fiscal 2022, what would be the effect on the ending actual fund balance, assuming the following: a. Actual revenues are $3,000 less than estimated revenues, and actual expenditures are $2,000. The actual ending fund balance would increase by?
The following information related to a real estate asset investment that is fully financed using REITS equityProject costs:Land. Ksh 300000Buildings. Ksh 2500000Total costs. Ksh 2800000Operating data:Initial rent Ksh 522100Growth in rent. 8% per yearVacancy rate. 6% of gross rentOther income. 1% of gross rentOperating expenses. 16% of gross rent for one yearGrowth in expenses. 7% per yearGrowth in resale price. 6%Selling expenses. 5% of resale priceDepreciation (straight line 27.5 years, mid-month convention Put at service at beginning of the year)Holding period. 5 yearsMarginal tax rate. 30%Capital gains tax rate. 15%Depreciation recovery tax rate. 25%Estimated sale price. Ksh 3747032Selling expenses. Ksh 187352 Required:a). Operating cash flows for the first 5 yearsb). After tax cash flows from the sale of propertyc). Net present value assuming cost of capital of 15%d). What are the factors that will be considered before investing in the asset
4. The Village of Seaside Pines prepared the following enterprise fund Trial Balance as of December 31, 2020, the last day of its fiscal year. The enterprise fund was established this year through a transfer from the General Fund. Accounts payable Accounts receivable Accrued interest payable Accumulated depreciation Administrative and selling expenses Allowance for uncollectible accounts Capital assets Cash Charges for sales and services Cost of sales and services Depreciation expense Due from General Fund Interest expense Interest revenue Transfer in from General Fund Bank note payable Supplies inventory Totals Debits $32,000 47,000 712,000 89,000 479,000 45,000 17,000 40,000 18,000 $1,479,000 Credits $ 96,000 28,000 45,000 12,000 550,000 4,000 119,000 625,000 $1,479,000 Required: a. Prepare the closing entries for December 31. b. Prepare the Statement of Revenues, Expenses, and Changes in Fund Net Position for the year ended December 31. c. Prepare the Net Position section of the…
Required information [The following information applies to the questions displayed below.] The following capital expenditure projects have been proposed for management's consideration at Scott Inc. for the upcoming budget year: Use Table 6-4 and Table 6-5. (Use appropriate factor(s) from the tables provided. Round the PV factors to 4 decimals.) Project Year(s) B D $ (25,000) $(50,000) 16,000 16,000 16,000 16,000 16,000 $ (50,000) 5,000 10,000 15,000 20,000 25,000 Initial investment $(25,000) 5,000 5,000 5,000 5,000 5,000 5,000 $ 1,081 $(100,000) 30,000 30,000 Amount of net cash return 1 2 3. 10,000 10,000 10,000 6,000 15,000 15,000 15,000 15,000 2,942 4 5 Per year 6-10 NPV (14% discount rate) 2$ $ Present value ratio 1.04 Required: a. Calculate the net present value of projects indicated by a minus sign.) and D, using as the cost of capital for Scott Inc. (Negative amounts should be Project Net Present Value B D
table showing over and under estimation of incomes and expenses. Particulars budgeted amount actual amount over estimation/ (under estimation) income:- Basic real property tax 10000 6000 4000 Business tax 5000 3000 2000 National taxes share- Share from internal revenue collection 30000 30000 0 expenses:- Personal services 3000 2500 500 Maintenance and other operating expenses 4000 4000 000 Capital outlay 10000 8500 1500 20% development going 6000 6000 0 Since, the expenses had the amount of liability based on certificates of appropriations, funds and allotment obligations this amount is used to calculate difference in estimation. required 1. Entries to record the adjustment for the over and underestimates.
Compute for the benefit ratio of the following projects. Project cost Gross income Operating cost Life of project Interest rate O a. 1.20 O b. 1.70 O c. 1.07 O d. 1.02 5,000,000 2,000,000 1,000,000 20 years 10%