What amount of property tax revenue would be reported in its General Fund Statement of Revenues, Expenditures and Changes in Fund Balances for the year ended December 31, 2009? (ignore the effect of collection of any taxes levied prior to 2009)

Question

Quizplus · Accepted Answer

The question states to ignore the effect of collection of any taxes levied prior to 2009. Therefore, we only need to consider the taxes billed in 2009. The total billed amount is given as $9,400,000 in the question, so this is the amount that would be reported in the General Fund Statement of Revenues, Expenditures and Changes in Fund Balances for the year ended December 31, 2009.

What Amount of Property Tax Revenue Would Be Reported in Its