Accounting assignments

posted in: Do my essay for me cheap | 0

Assignments submitted through email will not be accepted.The Assignment must be submitted on Blackboard (WORD format only) via allocated folder.Instructions – PLEASE READ THEM CAREFULLY

  • Students are advised to make their work clear and well presented, marks may be reduced for poor presentation. This includes filling your information on the cover page.
  • Students must mention question number clearly in their answer.
  • Late submission will NOT be accepted.
  • Avoid plagiarism, the work should be in your own words, copying from students or other resources without proper referencing will result in ZERO marks. No exceptions.
  • All answered must be typed usingTimes New Roman (size 12, double-spaced) No pictures containing text will be accepted and will be considered plagiarism).
  • Submissions without this cover page will NOT be accepted.

Assignment Question(s):                                                    

  1. A town needs to raise a net of $ 500,000 from property taxes in 2018, but experiences shows that about 2.5% of the tax levy is either refunded or deemed uncollectible. The town, therefore decides to levy property taxes of $ 512,500 to obtain net tax collection of $ 500,000. The actual cash collection during the year are $ 495,000. Pass journal entries to record these transactions.

(Marks 1.5)

  1. Prepare journal entries to record the following events and transactions for the year 2018. (Marks 2)
  2. The Township adopted a budget calling for appropriations of $420,000. The estimated revenues (all property taxes) were $400,000.
  3. The Township sent property tax bills amounting to $280,000 to property owners.
  4. Property owners paid $250,000 of property taxes to the Township.
  5. A purchase order of $40,000 was sent to a vendor of supplies.
  6. The supplies ordered in transaction d. were received in good order and the accompanying invoice of $38,000 was approved.


  1. The council of the Town approved the 2017 budget as follows:

(Marks 1.5)

Budgeted 2017 revenues from:

Property taxes                                                    $4,000,000

Sales taxes                                                          $3,000,000

Appropriations for 2017:

Salaries                                                               $3,000,000

Materials                                                            $ 2,000,000

Equipment                                                          $1,000,000


During 2017, the town presented a budget revision to increase the amount of appropriation for salaries by $300,000.  The council approved this budget revision.



  1. Prepare the general journal entry necessary to initially record the budget.
  2. Prepare the general journal entry necessary to record the budget revision.


Last Updated on September 27, 2019