Question

Please show the reasons of every question

A city levies taxes of 750000 in 2019. it collects 600000 of this in 2019, 80000 in February 2020, 40000 in May 2020, and the remaining in February 2021.

The city also collects taxes of 150000 in January 2019 and 65000 in October 2019 which were levied in 2018.

The fiscal year of the city ends on December 31.

In 2019, the city will recognize tax revenues at the general fund level of:

A.815000 B. 895000 C.745000 D.750000

In 2020, the city will recognize tax revenues at the general fund level of:

A.150000 B.120000 C.0 D.40000

In 2020, the city will recognize tax revenues at the governmental activities level of:

A.0 B.40000 C.150000 D.120000

In 2019, the city will recognize tax revenues at the governmental activities level of:

A.815000 B. 895000 C.745000 D.750000

In 2018, the city will recognize tax revenues at the general fund level of:

A.215000 B.65000 C.150000 D.0

In 2018, the city will recognize tax revenues at the governmental activities level of:

A.215000 B.65000 C.150000 D.0

Answer 1

Answer-

In 2019,the city will recognize tax revenues at the general fund level of

D.750000

In 2020,the city will recognize tax revenues at the general fund level of

C.0

In 2020,the city will recognize tax revenues at the governmental activities level of

D.120000

In 2019,the city will recognize tax revenues at the governmental activities level of

A.815000

In 2018,the city will recognize tax revenues at the general fund level of

A.215000

In 2018,the city will recognize tax revenues at the governmental activities level of

D.0

Note : Revenues at the general fund level should be recognized on accrual basis of accounting.

: Revenues at the governmental activities level should be recognized on cash basis of accounting