Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The Bureau of Nutrition Standards is a unit of the Health Department, is responsible for establishing standards for the quality and nutritional content of packaged

image text in transcribed
The Bureau of Nutrition Standards is a unit of the Health Department, is responsible for establishing standards for the quality and nutritional content of packaged food products. Prepare budgetary and proprietary entries to record the following transactions for the month of October, 2020 a The Bureau of Nutrition Standards received an appropriation in the amount of $100,000 b. The Office of Management and Budget apportioned the entire appropriation, c. The Health Department made the first quarter's allotment of $25,000 to the Bureau of Nutrition Standards, d. Bureau of Nutrition placed a purchase order for $14,000 for testing supplies. (Bureau of Nutrition does not use commitment accounting ) e. All the supplies arrived in good order. The vendor submitted an invoice for $15,000 because additional supplies were shipped (The purchase order permitted a 10 percent delivery overrun.) The invoice was accepted by Bureau of Nutrition, and the supplies were placed in inventory. f Bureau of Nutrition sent a disbursement schedule to Treasury, requesting payment of the $15,000 invoice g. Treasury notified BNS that the $15,000 invoice was paid. h Bureau of Nutrition used $6,000 of the supplies acquired in transaction e. (Bureau of Nutrition charges all expenses to the account "Inspection program costs.") 1. Bureau of Nutrition sent a disbursement schedule to Treasury, requesting salary checks in the amount of $10,600 Treasury sent salary checks to BNS in the amount of $10,000 for payment to Bureau of Nutrition employees

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

Intermediate Accounting

Authors: Donald E. Kieso, Jerry J. Weygandt, And Terry D. Warfield

13th Edition

9780470374948, 470423684, 470374942, 978-0470423684

More Books

Students also viewed these Accounting questions