Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Assume that a federal agency sees the following events occur: It receives a warrant from the Treasury notifying the agency of appropriations of $16,000,000. The
Assume that a federal agency sees the following events occur: It receives a warrant from the Treasury notifying the agency of appropriations of $16,000,000. The OMB apportions one-fourth of the appropriation for the first quarter of the year. The director of the agency allots $3,960,000 to program units. The program units place orders totaling $3,712,000. Supplies ($500,000) and services ($2,975,000) are received. The items received above were paid for. Supplies of $417,000 were used in the quarter. Required: Using the template provided in this module, prepare any necessary journal entries in the correct journal (budgetary or proprietary) to reflect the events described above. If no entry is necessary, enter "No entry" for your answer. You may Budgetary Accounting Proprietary Accounting A. A. Date Account Debit Credit Date Account Debit Credit B. B. Date Account Debit Credit Date Account Debit Credit C. C. Date Account Debit Credit Date Account Debit Credit D. Date D. Date Account Debit Credit Account Debit Credit E. E. Date Account Debit Credit Date Account Debit Credit F. F. Date Account Debit Credit Date Account Debit Credit G. G Date Account Debit Credit redit Date Account Debit Credit
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started