Why might it be desirable to operate enterprise funds at a profit? H The Village of Seaside Pines prepared the following enterprise fund Trial Balance as of December 31, 2020, the last day of its fiscal year. The enterprise fund was established this year through a transfer from the General Fund Debits Credits $ 96,000 Accounts payable Accounts receivable 32,000 Accrued interest payable 28,000 Accumulated depreciation 45,000 Administrative and selling expenses 47,000 Allowance for uncollectible accounts 12,000 Capital assets 712,000 Cash 89,000 550,000 Charges for sales and services Cost of sales and services 479,000 Depreciation expense 45,000 Dur from General Fund 17,000 S J

Why might it be desirable to operate enterprise funds at a profit? H The Village of Seaside Pines prepared the following enterprise fund Trial Balance as of December 31, 2020, the last day of its fiscal year. The enterprise fund was established this year through a transfer from the General Fund Debits Credits $ 96,000 Accounts payable Accounts receivable 32,000 Accrued interest payable 28,000 Accumulated depreciation 45,000 Administrative and selling expenses 47,000 Allowance for uncollectible accounts 12,000 Capital assets 712,000 Cash 89,000 550,000 Charges for sales and services Cost of sales and services 479,000 Depreciation expense 45,000 Dur from General Fund 17,000 S J

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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