Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Assume a federal agency has the following events: Receives a warrant from the Treasury notifying the agency of appropriations of $ 5 , 0 5

image text in transcribed
Assume a federal agency has the following events:
Receives a warrant from the Treasury notifying the agency of appropriations of $5,050,000.
OMB apportions one-fourth of the appropriation for the first quarter of the year.
The director of the agency allots $1,172,000 to program units.
Program units place orders of $835,000.
Supplies ($138,500) and services ($579,500) are received during the first quarter. Supplies of $126,000 were used in the quarter. Accounts payable were paid in full.
Required:
Prepare a schedule showing the status of the appropriation at the end of the first quarter.
\table[[Amount,Status],[,Allotments],[,Apportionments],[,Obligations - Delivered Orders],[,Obligations for Undelivered Orders],[,Unapportioned Authority],[,Y],[$,O Total Appropriation]]
image text in transcribed

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Advanced Financial Accounting

Authors: Theodore E. Christensen, David M. Cottrell, Cassy JH Budd

11th edition

78025877, 978-0078025877

More Books

Students also viewed these Accounting questions

Question

How can you better assist customers who have a hearing disability?

Answered: 1 week ago