Business, 10.09.2021 16:50, lovelyheart5337

Recording the adopted budget; determining property tax rate Following are (a) a condensed summary of a recent General Fund budget adopted by the village of Croton-on-Hudson, New York, and (b) the total assessed value of taxable properties in the village. Estimated revenues and other sources
Real property taxes $15,491,173
Non-property taxes and other 9,621,203
Total estimated revenues 25,112,376
Appropriated previously accumulated fund balance 573,750
Total estimated revenues and other sources $25,686,126
Appropriations Police department $4,313,439
All other departments and other 11,973,293
Employee benefits 6,123,763
Transfer to debt service fund 3,275,631
Total appropriations $25,686,126
Assessed value of taxable real property $60,230,497

Required:
Prepare the journal entry to record the budget and compute the property tax rate per $1,000 of taxable assessed value.

Answers: 3

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Recording the adopted budget; determining property tax rate Following are (a) a condensed summary of...