Ingham County Collects,in Addition to Its Own Taxes,taxes for Other

question 7

Essay

Ingham County collects,in addition to its own taxes,taxes for other units.Tax levied for 2011 were as follows: Collections from the 2011 levies amounted to $3,550,000 and were distributed in proportion to the original levies,less a 1% collection fee charged Mason City and the Mason School District.Collection fees are remitted to the Ingham County General Fund.
Required
1)Record the tax levies in the Ingham County Tax Agency Fund.
2)Record the collection from the 2011 tax levies in the Ingham County Tax Agency Fund and the specific liabilities owed each fund and unit (Round all amounts to the nearest whole dollar.)
3)Record in the Ingham County Tax Agency Fund the transfer of collected taxes to each fund and unit.

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Definitions:

Key Transitions

Significant changes or periods of transformation in an individual's life or within a system that mark a passage from one state or phase to another.

Maturity

A state of being fully developed in one's emotional, physical, and intellectual capacities, often associated with adulthood and reasoned decision-making.

G. Stanley Hall

An influential American psychologist and educator best known for his work in developmental psychology and education.

Biological Maturation

The natural process by which organisms grow and develop, guided by genetic factors and largely independent of external influences.