Listed below are selected transactions for the Gotham City Garbage Service, which is accounted for in an Enterprise Fund. All amounts are in thousands of dollars.
Transactions:
1. Services of $8,250 were provided and billed to outside customers.
2. Services of $1,500 were provided and billed to the General Fund.
3. $1,500 was collected from other funds, and $7,500 was collected on account.
4. $100 of accounts receivable were written off as uncollectible.
5. Estimated bad debts for the year were $220.
Requirement:
1. Prepare the journal entries required in the Enterprise Fund. If no entry is required, state "No entry required" and explain why.
2. Compute the amount of sales revenues that should be reported for the Enterprise Fund.

Which of the following best describes the economic effect that results when the government increases interest rates and restricts the lending of money? a. borrowing money becomes more expensive and there is less investment in production. b. the economy grows as investments result in larger profits. c. government spending drives up prices because of greater competition for goods and services. d. consumers save more money and spend less buying goods and services.

Big trail running company has started to produce running apparel in addition to the trail running shoes that they have manufactured for years. they feel that a departmental overhead rate would best reflect their overall manufacturing overhead usage. based on research the following information was gathered for the upcoming year: machining department finishing department estimated manufacturing overhead by department $ 600 comma 000 $ 400 comma 000 trail running shoes 440 comma 000 machine hours 11 comma 000 direct labor hours running apparel 60 comma 000 machine hours 39 comma 000 direct labor hours manufacturing overhead is driven by machine hours for the machining department and direct labor hours for the finishing department. at the end of the year, the following information was gathered related to the production of the trail running shoes and running apparel: machining department finishing department trail running shoes 442 comma 000 hours 10 comma 500 hours running apparel 57 comma 000 hours 40 comma 000 hours how much manufacturing overhead will be allocated to the trail running shoes

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