Year-end adjusting journal entries

Prepare budgetary and proprietary journal entries to record the following year-end adjustments:

Note: If a journal entry is not required, select No entry as your answers and leave the Debit and Credit answers blank (zero).

2. The agencys liability for unused vacation leave increased by $40,000 as a result of the years activities. The budget makes no provision for this expense until vacation leave is actually taken.

Debit Credit Budgetary entry: Description No entry No entry > 0 0 > 0 0 Proprietary entry: Description Future funded expenses Credit . Debit 40,000 0 0 40,000 ase order for $15,000 wa Accrued funded payroll Accumulated depreciation - equipment Allotments - realized resources Delivered orders - obligations, unpaid Expended appropriations Future funded expenses Program costs - depreciation Program costs - salaries Undelivered orders - obligations, unpaid Unexpended appropriations - used Unfunded leave No entry Credit Debit 15,000 0 0 15,000 Debit Credit Budgetary entry: Description No entry No entry > 0 0 > 0 0 Proprietary entry: Description Future funded expenses Credit . Debit 40,000 0 0 40,000 ase order for $15,000 wa Accrued funded payroll Accumulated depreciation - equipment Allotments - realized resources Delivered orders - obligations, unpaid Expended appropriations Future funded expenses Program costs - depreciation Program costs - salaries Undelivered orders - obligations, unpaid Unexpended appropriations - used Unfunded leave No entry Credit Debit 15,000 0 0 15,000