The Star Exploration Agency, a unit of the Space Department, was established by Congress to begin operations at the beginning of fiscal year 2023. Following are the agency's transactions during October, its first month of operations: October 1 Congress passed and the president approved a $2,500,000 appropriation for this agency. October 1 Of the amount appropriated, $2,375,000 was apportioned by the OMB. October 1 The Space Department allotted the agency $250,000 to carry out its October operations. October 1 Purchase requests were made for materials and supplies, estimated to cost $220,000. October 4 Purchase orders were placed for materials and supplies, estimated to cost $212,500. The other requests (for $7,500) were cancelled. October 10 Materials and supplies previously ordered were received, together with invoices for $200,000. All items received were placed in inventory. The remaining items (for $12,500) will be received at a later date. October 14 A disbursement schedule was sent to the Treasury, requesting that it pay invoices amounting to $200,000. October 24 The Treasury informed the agency that it had paid invoices amounting to $190,000. October 31 An inventory count showed that $37,500 of materials and supplies was on hand. The rest was used in operations. Budgetary entries Proprietary entries Preclosing trial balance Balance sheet Statement of net costs Statement of net changes Sta a) Prepare the budgetary journal entries needed to record the above transactions and events. Enter accounts in order of magnitude (largest to smallest amounts), debits first. If no entry is necessary, select 'No debit (or credit) entry needed' in the account fields and enter 0 in the amount fields. Account Oct 1-To record receipt of appropriation authority, Oct 1-To record the apportionment of monies by OMB. Oct 1-To record allotment of monies for October operations. Oct 1-To record purchase requests for materials, supplies. Oct 4-To obligate funds for purchase orders- materials, supplies. Oct 10-To record delivery and acceptance of materials, supplies Oct 14-To record request to Treasury for checks. Oct 24-To record confirmed payment by Treasury < < Debit Credit 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Oct 1-To record the apportionment of monies by OMB Oct 1-To record allotment of monies for October operations. Oct 1-To record purchase requests for materials, supplies. Oct 4-To obligate funds for purchase orders - materials, supplies. Oct 10-To record delivery and acceptance of materials, supplies Oct 14-To record request to Treasury for checks. Oct 24-To record confirmed payment by Treasury, Oct 31-To record use of materials and supplies. > 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 b) Prepare the proprietary journal entries needed to record the above transactions and events. Enter accounts in order of magnitude (largest to smallest amounts), debits first. If no entry is necessary, select 'No debit (or credit) entry needed' in the account fields and enter 0 in the amount fields. Account Oct 1-To record receipt of appropriation warrant. Oct 1-To record the apportionment of monies by OMB Oct 1-To record allotment of monies for October operations. Oct 1-To record purchase requests for materials, supplies. Oct 4-To obligate funds for purchase orders - materials, supplies. Oct 10-To record delivery and acceptance of materials, supplies Oct 10-To record financing source of materials and supplies. > Debit Credit 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Oct 1-To record allotment of monies for October operations. Oct 1-To record purchase requests for materials, supplies. 0 0 0 0 0 0 0 0 O 0 Oct 4-To obligate funds for purchase orders materials, supplies. 0 Oct 10-To record delivery and acceptance of materials, supplies 0 Oct 10 To record financing source of materials and supplies. Oct 14-To record request to Treasury for checks. Oct 24-To record issuance of checks by Treasury. Oct 31 To record use of materials and supplies. < < > < < 0 O 0 0 0 0 0 0 0 0 0 0 0 0 c. Prepare a preclosing trial balance dated October 31, 2022. Budgetary Accounts Star Exploration Agency Preclosing Trial Balance October 31, 2022 Other appropriations realized Unapportioned authority Apportionments Allotments realized resources Undelivered orders - obligations, unpaid Delivered orders - obligations, unpaid 5 0 $ 0 0 0 0 Delivered orders - obligations, paid 0 $ 0 $ 0 Proprietary Accounts Fund balance with Treasury $ 0 0 Operating materials and supplies held for use Disbursements in transit Unexpended appropriations - appropriations received Unexpended appropriations - used +A $ 0 O I O Expended appropriations Program costs - materials and supplies 0 $ 0 $ 0 d. Prepare a balance sheet as of October 31, 2022. Star Exploration Agency Balance Sheet October 31, 2022 Assets Intragovernmental Fund balance with Treasury Operating materials and supplies held for use Total assets Liabilities and Net Position Liabilities: $ 0 0 Disbursements in transit $ tA Total liabilities Net Position: Unexpended appropriations Cumulative results of operations Net position Total liabilities and net position 0 EA $ 0 tA $ 0 0 0 0 Budgetary entries Proprietary entries Preclosing trial balance Balance sheet Statement of net costs Statement of net changes e. Prepare a statement of net costs for the month ended October 31, 2022. Star Exploration Agency Statement of Net Costs For the month of October, 2022 Program costs: Materials and supplies $ Net cost of operations 0 $ 0 f. Prepare a statement of changes in net position for the month ended October 31, 2022. Star Exploration Agency Statement of Changes in Net Position For Month Ended October 31, 2022 Cumulative results of operations: Beginning balance Budgetary financing sources: Appropriations used Net cost of operations Net change Cumulative results of operations Unexpended appropriations: Beginning balance: Appropriations received Appropriations used Total unexpended appropriations Net position, end of period 0 $ 0 0 0 0 0 0 O f. Prepare a statement of budgetary resources for the month ended October 31, 2022. Budgetary Resources: Star Exploration Agency Statement of Budgetary Resources For Month Ended October 31, 2022 Appropriations Total budgetary resources $ 0 $ 0 Status of Budgetary Resources: Obligations incurred 0 Unobligated balances available for obligation 0 Unobligated balances not available (not apportioned or not allotted) 0 Total, status of budgetary resources $ 0 Net (and gross) outlays $ 0