Question
Assume a federal agency has the following events: Receives a warrant from the Treasury notifying the agency of appropriations of $4,850,000. OMB apportions one-fourth of
Assume a federal agency has the following events: Receives a warrant from the Treasury notifying the agency of appropriations of $4,850,000. OMB apportions one-fourth of the appropriation for the first quarter of the year. The director of the agency allots $1,084,000 to program units. Program units place orders of $780,000. Supplies ($127,500) and services ($522,500) are received during the first quarter. Supplies of $117,000 were used in the quarter. Accounts payable were paid in full. Required: Prepare a schedule showing the status of the appropriation at the end of the first quarter.
Assume a federal agency has the following events: 1. Receives a warrant from the Treasury notifying the agency of appropriations of $4,850,000. 2. OMB apportions one-fourth of the appropriation for the first quarter of the year. 3. The director of the agency allots $1,084,000 to program units. 4. Program units place orders of $780,000. 5. Supplies ($127,500) and services ($522,500) are received during the first quarter. Supplies of $117,000 were used in the quarter. Accounts payable were paid in full. Required: Prepare a schedule showing the status of the appropriation at the end of the first quarter. $ Amount Status 3,637,500 Unapportioned Authority Apportionments Allotments Obligations for Undelivered Orders Expended Appropriations $ 3,637,500 Total AppropriationStep by Step Solution
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