Kirby County Established a Tax Custodial Fund to Collect Property

question 44

Essay

Kirby County established a tax custodial fund to collect property taxes for the City of Kix, the City of Denton, and Kirby County Independent School District. Total tax levies of the three governments were $200,000 for the year, of which $60,000 was for the City of Kix, $40,000 for Denton, and $100,000 for the School District.
The tax custodial fund charges a 2% collection fee that it transfers to the General Fund of the County in order to cover costs incurred for custodial fund operations. During the year the tax custodial fund collected and remitted $150,000 of the $200,000 levies to the various governments. Collection fees associated with the $150,000 were remitted to Kirby County's General Fund prior to year end.
For the Kirby County Tax Custodial Fund prepare the journal entries to record the taxes collected during the year and the remittances made to participating governments. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.)

Recognize the challenges and benefits posed by social media in a professional setting.

Grasp the differences in communication effectiveness among various platforms (email, chat formats, face-to-face, etc.).

Understand gender dynamics in virtual team interactions and electronic meetings.

Comprehend the relationship between job demands and employees' tendency to cyberloaf.

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Definitions:

Nuclear Pores

Porelike openings in the nuclear envelope where the inner and outer membranes fuse.

Chromatin

A complex of DNA and proteins found in the nucleus of cells, which condenses to form chromosomes during cell division.

Nucleolus

A structure within the nucleus of a cell where ribosomal RNA is produced.

Microtubules

Cylindrical structures within the cell that are part of the cytoskeleton, helping in cell shape, division, and intra-cellular transport.