149.

Assume the Federal Interstate Commission began the fiscal year with the following account balances:

FEDERAL INTERSTATE COMMISSION Trial Balance October 1, 2020
	Debits	Credits
Fund Balance with Treasury	$ 730,000
Supplies	105,000
Equipment	1,350,000
Accumulated Depreciation		$ 480,000
Accounts Payable		126,000
Wages Payable		79,000
Cumulative Results of Operations		1,500,000
	$2,185,000	$2,185,000
Table Summary: Rows have data entered in either the Debits or the Credits column, other than the final row which has both. Rows with debits only are data rows 1 through 3.

1. Congress passed a spending bill providing $16,000,000 to fund the agencys operations for the year.
2. During the first quarter the commission processed the following items for payment (all items were paid by Treasury in the first quarter).

Beginning balances
Accounts payable	$ 126,000
Wages payable	79,000
Salaries and benefits	495,000
Supplies	500,000
Contracted services	1,000,000
Grants	900,000
Equipment	500,000
Total	$3,600,000

3. Unpaid wages at the end of the quarter totaled $35,000.
4. In addition to the items paid in item 2, the commission received supplies of $12,000 and contracted services of $70,000 that are to be processed for payment in January.
5. Unused supplies on hand totaled $214,000 at December 31.
6. Depreciation for the quarter is $60,000.

Required:

1. Prepare journal entries in the proprietary accounts for the events described above.
2. Prepare a Statement of Changes in Net Position for the quarter ended December 31. (Assume the amount of appropriations used is $3,909,000 and use the format appearing in Illustration 14-11.)
3. Prepare a Balance Sheet as of December 31