Prepare a statement of budgetary resources

Assignment Help Financial Accounting
Reference no: EM13904952

The following is a summary of transactions affecting the CTTAs intelligence-gathering material appropriation for the year ended September 30, 2013. Prepare a statement of budgetary resources. Assume that all resources not obligated by year-end are not available for future obligation.

1. The CTT received an appropriation of $400,000.

2. The OMB apportioned to the agency the entire amount that Congress appropriated.

3. To keep control over its rate of expenditures, the agency used an allotment system. During the year, the entire apportionment was allotted.

4. Commitments placed during the year for intelligence-gathering materials totaled $390,000.

5. Purchase orders issued against the commitments totaled $375,000.

6. Of the intelligence-gathering materials ordered, $360,000 worth was delivered this year; the remaining $15,000 worth will be delivered next year. The delivered materials were accepted and placed in inventory.

7. During the year, intelligence-gathering materials worth $140,000 were consumed in operations.

8. The CTT sent a disbursement schedule to the Treasury requesting payment of the invoice for $360,000 received from the vendor.

9. The Treasury later notified the CTT that the invoice had been paid

What would the journal entries look like?

Reference no: EM13904952

Questions Cloud

What effects or details did the designer ignore : Why did the leg collapse? What effects or details did the designer ignore - Redesign the stillage to avoid similar incidents in future, without increasing its footprint (width, length) since space is needed around it for testing.
Trace the history of social psychology : In a paper of 1,000-1,250 words, trace the history of social psychology. Provide evidence of social psychology's historic link to the fields of psychology and sociology
Derive a tender price for order and justify your reasoning : Derive a tender price for the order and justify your reasoning. Derive a minimum tender price that the business might use if it was particularly keen to get the order.
What self-defeating behaviors have you noticed : Does your level of self-esteem change depending on the situation? In what types of situations have you noticed a change? What self-defeating behaviors have you noticed in others or identified in yourself? How does this behavior relate to theory
Prepare a statement of budgetary resources : The following is a summary of transactions affecting the CTTAs intelligence-gathering material appropriation for the year ended September 30, 2013. Prepare a statement of budgetary resources.
Evaluate funding opportunities and possible partnerships : Evaluate funding opportunities and possible partnerships
Psychology research paper on child abuse and neglect : Psychology Research Paper on child abuse and neglect, Create a profile of one individual or a non-governmental organization (NGO) that influenced Understanding Child Abuse and Neglect
Does polaris have any foreign operations : Refer to Polaris financial statements in Appendix A to answer the following.
Effect of the error on the income statement : State the effect of the error on the December 31, 2010, balance sheet of Boss Motorcycle Shop. State the effect of the error on the income statement of Boss Motorcycle Shop for the year ended December 31, 2010.

Reviews

Write a Review

Financial Accounting Questions & Answers

  Classify each document as internal or external evidence

Inspection of record and documents related to the auditor’s examination of entity accounting records and other information. One issue that affects the reliability of documentary evidence is whether the documents are internal or external. Following ar..

  Disclosure requirements for pension and opeb plans

What are the FAS 157 disclosure requirements for pension and OPEB plans?

  Question sea eagles inc uses weighted-average process

question sea eagles inc. uses weighted-average process costing. during the current period 60000 units were started

  Preparation of income statement and retained earningson

preparation of income statement and retained earnings.on june 1 fix-it-up service co. was started with an initial

  Explain how does the accounting for normal spoilage

Explain how does the accounting for normal spoilage and rework differ from the accounting for abnormal spoilage and rework?

  Journalize the adjusting entry for the inventory shrinkage

Journalize the adjusting entry for the inventory shrinkage for Iverson Tile Co. for the year ended December 31, 2010.

  Compute the weighted-average number of shares outstanding

Tomba Corporation had 557,400 shares of common stock outstanding on January 1, 2014. On May 1, Tomba issued 34,200 shares. Compute the weighted-average number of shares outstanding if the 34,200 shares were issued for cash. Compute the weighted-avera..

  Compute all pros cost of goods manufactured for 2012

Compute All Pros cost of goods manufactured for 2012

  Ds inc sells widgets for 3200 per unit the variable cost

ds inc sells widgets for 32.00 per unit. the variable cost per unit is 25.00. if the total fixed cost are 335000

  Prepare the journal entryies at the date of purchase

Prepare the journal entry(ies) at the date of purchase. Prepare an amortization schedule for the installment agreement.

  Is that consistent with us gaap

How does British Airways, Plc. (BA)account for “other current interest-bearing deposits”? Is that consistent with U.S. GAAP? What is the amount of those investments that are maturing after three months, as of March 31, 2009?

  What are the entitys major sources of revenue

What are the entity's major sources of revenue, including the nature of its products or services? Who are the entity's key customers? Who are the entity's key suppliers? What is the organizational structure?

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd