Governmental Accounting Gross Up
Not what you're looking for?
Please assist me with this problem:
If the General Fund of a certain city needs $6,790,000 revenue from property taxes to finance estimated expenditures of the next fiscal year and historical experience indicates 3 percent of the gross levy will not be collected, how much should the gross levy for property taxes be? Show all computations in good form.
Purchase this Solution
Solution Summary
The solution accounts for the amount a governmental entity should 'gross up' its budget to account for funds it anticipates will not be collected.
Solution Preview
This problem is a 'gross up' type problem where we are to establish a known net against an unknown gross.
This type of problem is common is business (because of the net effect of taxes). In their employment contracts, business executives often ask ...
Purchase this Solution
Free BrainMass Quizzes
Employee Orientation
Test your knowledge of employee orientation with this fun and informative quiz. This quiz is meant for beginner and advanced students as well as professionals already working in the HR field.
Understanding Management
This quiz will help you understand the dimensions of employee diversity as well as how to manage a culturally diverse workforce.
Production and cost theory
Understanding production and cost phenomena will permit firms to make wise decisions concerning output volume.
Cost Concepts: Analyzing Costs in Managerial Accounting
This quiz gives students the opportunity to assess their knowledge of cost concepts used in managerial accounting such as opportunity costs, marginal costs, relevant costs and the benefits and relationships that derive from them.
Basic Social Media Concepts
The quiz will test your knowledge on basic social media concepts.