During the course of your audit of a city, you noted an $800,000 payment to...
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Accounting
During the course of your audit of a city, you noted an $ payment to the General Fund from an Enterprise Fund. The payment was recorded in both funds as a payment in lieu of property taxes. a How should this payment be reported? b What would your answer be if the payment were from the county?
During the course of your audit of a city, you noted an $ payment to the General Fund from an Enterprise Fund. The payment was recorded in both funds as a payment in lieu of property taxes. a How should this payment be reported? b What would your answer be if the payment were from the county?
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