Congress authorized the Flood Control Commission to start operations on October 1, 2020.

Required

1. Record the following transactions in general journal form as they should appear in the accounts of the Flood Control Commission. Record all expenses in the Operating/Program Expenses account. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.)

2. Prepare the Balance Sheet of the Flood Control Commission as of October 31, 2020, assuming that all of the Commissions assets are entity assets, Fund Balance with Treasury is intragovernmental, and all other assets are governmental.

c. Prepare the Statement of Changes in Net Position of the Flood Control Commission for the month ended October 31, 2020. (Amounts to be deducted should be indicated with a minus sign.)

4. Prepare the Statement of Budgetary Resources of the Flood Control Commission for the month ended October 31, 2020. (Amounts to be deducted should be indicated with a minus sign.)

EDIT: NO OTHER INFORMATION GIVEN...

5. Payroll for the first two weeks in the amount of $183,000 was paid. Budgetary Record the payroll for the first 2 weeks as per budgetary accounting. 5a 5b Proprietary Record the payroll for the first 2 weeks as per proprietary accounting. Record the transfer from the Fund balance with treasury for payroll expenses as per proprietary accounting. 5d Record the appropriation used towards payroll expenses as per proprietary accounting. 6. Invoices approved for payment totaled $408,000; of the total, $167,000 was for furniture and equipment, $188,000 for materials and supplies, and $53,000 for rent 6a Budgetary Record the invoices approved for payment as per budgetary accounting. 6b Proprietary Record the invoices approved for payment as per proprietary accounting. Record the appropriation used towards invoces approved for payment as per proprietary accounting. 7. A liability was recorded for the payroll for the second two weeks, $173,000, and for the employer's share of FICA taxes for the four weeks, $36,000. (Note: Credit to Accrued Funded Payroll and Benefits.) Budgetary Record the liabilities for payroll as per budgetary accounting. | 7b Proprietary Record the liabilities for payroll as per proprietary accounting. Record the appropriation used towards payroll and benefits as per proprietary accounting. 8. Accounts payable totaling $215,000 were paid, and this included liabilities for materials and supplies, $162,000, and rent, $53,000. Accrued Funded Payroll and Benefits in the amount of $209,000 were paid. 8a Proprietary Record the payment of accounts payables as per proprietary accounting. Record the transfer of fund balance in treasury for payment of accounts payables as per proprietary accounting. 9. Accruals recorded at month-end were salaries, $43,000, and utilities, $23,000. Materials and supplies costing $73,000 were used during the month. Depreciation of $9,000 was recorded on furniture and equipment for the month 9a Budgetary Record the accruals at the month-end for various expenses as per budgetary accounting. 9b Proprietary Record the accruals at the month-end for various expenses as per proprietary accounting Record materials and supplies used during the month per proprietary accounting. Record the depreciation expenses as per proprietary accounting. Record the appropriations used at the month-end for various expenses as per proprietary accounting. 10. Necessary closing entries were prepared as of October 31, 2020. 10a Budgetary Record the closing entries as per budgetary accounting. 10b Proprietary Record the closing entries as per proprietary accounting. 10c 100 Record the transfer of the cumulative results of operations to the appropriations used account as per proprietary accounting FLOOD CONTROL COMMISSION Balance Sheet As of October 31, 2020 Assets Intragovernmental: Governmental: Total Assets $ 0 Liabilities Total Liabilities Net Position Total Net Position Total Liabilities and Net Position ! FLOOD CONTROL COMMISSION Statement of Changes in Net Position For the Month Ended October 31, 2020 Cumulative Results of Operations Unexpended Appropriations Beginning Balances Budgetary Financing Sources: Appropriations Received Appropriations Used Total Financing Sources Net Cost of Operations Ending Balances 0 $ FLOOD CONTROL COMMISSION Statement of Budgetary Resources For Month Ended October 31, 2020 Budgetary Resources: Budget Authority Status of Budgetary Resources: New Obligations & Upward Adjustments Unobligated Balances Available Total Status of Budgetary Resources Changes in Obligated Balance: New Obligations & Upward Adjustments Outlays Obligated Balance, End of Period