Garden city has calculated that general fund property tax revenues of $4,608,000 are required for the current fiscal year. over the past several years, the city has collected 96 percent of all property taxes levied. the city levied property taxes in the amount that will generate the required $4,608,000. which of the following general journal entries would correctly record the property tax levy? a. taxes receivable-current 4,608,000allowance for uncollectible current taxes 184,320revenues 4,423,680b. taxes receivable-current 4,800,000allowance for uncollectible current taxes 192,000revenues 4,680,000c. taxes receivable-current 4,608,000deferred inflow of resources-property taxes 184,320revenues 4,423,680d. taxes receivable-current 4,800,000deferred inflow of resources-property taxes 192,000revenues 4,680,000

Neon light company of kansas city ships lamps and lighting appliances throughout the country. ms. neon has determined that through the establishment of local collection centers around the country, she can speed up the collection of payments by one and one-half days. furthermore, the cash management department of her bank has indicated to her that she can defer her payments on her accounts by one-half day without affecting suppliers. the bank has a remote disbursement center in florida. a. if neon light company has $2.90 million per day in collections and $1.18 million per day in disbursements, how many dollars will the cash management system free up?

Consider the market for gasoline. suppose that, in a competitive market without government regulations, the equilibrium price of gasoline is $3.00 per gallon, and employees at gas stations earn $17.50 per hour. complete the following table by indicating whether each of the statements is an example of a price ceiling or a price floor and whether it results in a shortage or a surplus or has no effect on the price and quantity that prevail in the market. statement price control effect the government has instituted a legal minimum price of $3.40 per gallon for gasoline. the government prohibits gas stations from selling gasoline for more than $3.40 per gallon. due to new regulations, gas stations that would like to pay better wages in order to hire more workers are prohibited from paying more than $14.50 per hour.

Cash flows during the first year of operations for the harman-kardon consulting company were as follows: cash collected from customers, $385,000; cash paid for rent, $49,000; cash paid to employees for services rendered during the year, $129,000; cash paid for utilities, $59,000. in addition, you determine that customers owed the company $69,000 at the end of the year and no bad debts were anticipated. also, the company owed the gas and electric company $2,900 at year-end, and the rent payment was for a two-year period.