Question
One amount is missing in the following trial balance of proprietary accounts, and another is missing from the trial balance of budgetary accounts of the
One amount is missing in the following trial balance of proprietary accounts, and another is missing from the trial balance of budgetary accounts of the Save Our Resources Commission of the federal government. This trial balance was prepared before budgetary accounts were adjusted, such as returning unused appropriations. The debits are not distinguished from the credits.
SAVE OUR RESOURCES COMMISSION | |||
Preclosing Trial Balance | |||
September 30, 2020 | |||
Proprietary accounts: | |||
Accounts Payable | $ | 135,000 | |
Accumulated DepreciationPlant and Equipment | 5,351,000 | ||
Appropriations Used | 4,501,000 | ||
Fund Balance with Treasury2020 | ? | ||
Operating Materials and Supplies | 64,000 | ||
Cumulative Results of Operations10/1/19 | 1,010,000 | ||
Operating/Program Expenses | 2,151,000 | ||
Depreciation and Amortization | 751,000 | ||
Plant and Equipment | 8,112,000 | ||
Unexpended Appropriations2020 | 411,000 | ||
Budgetary accounts: | |||
Other Appropriations Realized2020 | ? | ||
Expended Authority2020 | 4,501,000 | ||
Undelivered Orders2020 | 311,000 | ||
Allotments2020 | 101,000 | ||
In completing the assignment, assume that all assets are entity assets, Fund Balance with Treasury is an intragovernmental asset, and all other assets are governmental. Also, assume that Other Appropriations Realized2019 were zero.
Required
- Prepare the Statement of Budgetary Resources of the Save Our Resources Commission for 2020.
I have been able to separate out the Preclosing Trial Balance into debits and credits and came up with a funds balance of $330,000 and an other appropriations of $4,913,000. The text provides a similar Statement of Budgetary Resources, but I can't seem to get it to work
The table provided is as follows (bold lines are the blanks that need to be filled in):
Budgetary Resources:
Budgetary Authority
Status of Budgetary Resources:
New Obligations & Upward Adjustments
Total Status of Budgetary Resources
Changes in Obligated Balance
Unpaid Obligations, Beginning of the Year
New Obligations & Upward Adjustments
Outlays (Disbursements)
Unpaid Obligations, End of Year
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