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Prepare budgetary and proprietary journal entries

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Prepare budgetary and proprietary journal entries to record the following year end adjustments: 1. An accrual of $ 60,000 was made for salaries earned the last week of September, to be paid in October. Budgetary funds were available for this purpose.
2. The agency liability for unused vacation leave increased by $ 40,000 as a result of the year activities. The budget makes no provision for this expense until vacation leave is actually taken.
3. The agency discovered that a purchase order for $ 15,000 was inadvertently issued twice for the same thing. Therefore, one of the orders was cancelled.
4. The agency recorded depreciation of $ 25,000 on its equipment.

Reference no: EM13872670

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