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3. The interest on Treasuries is subject to Federal Taxes.
It is exempted at the State and Local level but fully taxable at Federal Level. One needs to submit Form 1099-INT.
Assume treasuries are trading at 3% interest. ($100 investment that pays9 % interest after one year 6% interest after two years and 7 %interest after 3 years) what is the net present value?
True or false Over the long term, US Treasuries have had a higher return than an index fund of investment grade bonds.
Draw a graph of a hypothetical, slightly inverted yield curve in the US Treasuries market (interest rate on the vertical or y axis). Use the expectations theory to describe (briefly) what this curve implies about market participants’ forecast for short term Treasury bond yields. Are there other economic forecasts implied by this forecast of short-term yields?
Chapter 8 Recording Transactions Affecting a Fiduciary Fund—a Tax Custodial Fund [Para. 8-b-2] Delinquent taxes and related interest and penalties were collected during the year for the taxing authorities shown below: Governments/Funds: Delinquent Taxes Interest and Penalties Total City of Smithville General Fund $ 387,201 $ 34,270 $ 421,471 Smithville CSD 722,650 57,810 780,460 Smith County 459,980 41,400 501,380 Smith County FPD 162,560 13,050 175,610 Total collected $1,732,391 $146,530 $1,878,921 Required: Record the collections of delinquent taxes and interest and...
4. Some are urging that China will try to dump the U.S. Treasuries as part of the ongoing trade war. Although it is not likely to happen, what will be the impact on (1) the value of the U.S. dollar (appreciate or depreciate) and (2) the interest rate of the U.S. market (raise or drop) if China really sells a lot of Treasuries holding at a low price?
Current year Real Property Taxes $6,484,000 Delinquent Taxes 348,000 interest and Penalties Receivable on Taxes 23,860 Sales Taxes 748,000 Licenses and Permits 479,000 Fines and Forfeits 519,000 Intergovernmental Revenues 515,000 Charges for Services 361,000 Miscellaneous Revenues 226,500 Total $9,704,360 Required: Record the receipt of cash and the related credits to receivables and revenues accounts, as applicable, in both the General Fund and governmental activities journals. (Select “Received in Cash” in the drop-down [Description] menu in the Detail Journal related to...
which of the followinf taxes are not subject to the innocent spouse
A public school district should recognize revenue from property taxes levied for its debt service fund when Funds from the levy are measurable and available to the district. Assessed valuations of property subject to the levy are known. Bonds to be retired by the levy are due and payable. Proceeds from collection of the levy are deposited in the district’s bank account.
26) The best fund in which to account for the interest and dividends from an endowment to purchase library books would be a(n) (4p Agency Fund. Endowment Fund. O Private-Purpose Trust Fund Nonexpendable Trust Fund. 27) If a county collects taxes on behalf of the city and school district, it would record the taxes (4p in the ■ Trust Fund. a Agency Fund. General Fund. Special Revenue Fund. 28) Interfund transactions include all of the following except for: (4pts) interfund...
The General Fund collected the following amounts in cash: Current year Real Property Taxes $6,484,000 Delinquent Taxes 348,000 Interest and Penalties Receivable on Taxes 23,860 Sales Taxes 748,000 Licenses and Permits 479,000 Fines and Forfeits 519,000 Intergovernmental Revenues 515,000 Charges for Services 361,000 Miscellaneous Revenues 226,500 Total $9,704,360 Required: Record the receipt of cash and the related credits to receivables and revenues accounts, as applicable, in both the General Fund and governmental activities journals. (Select “Received in Cash” in the...