Question: Exercise 1 4 - 7 ( Algo ) Assume a federal agency has the following events: Receives a warrant from the Treasury notifying the agency

Exercise 14-7(Algo)
Assume a federal agency has the following events:
Receives a warrant from the Treasury notifying the agency of appropriations of $4,600,000.
OMB apportions one-fourth of the appropriation for the first quarter of the year.
The director of the agency allots $1,045,000 to program units.
Program units place orders of $751,000.
Supplies ( $123,000) and services ( $511,000) are received during the first quarter. Supplies of $113,000 were used in the quarter. Accounts payable were paid in full.
Required:
Prepare a schedule showing the status of the appropriation at the end of the first quarter.
\table[[Amount,Status],[,Apportionments],[,Allotments],[,Obligations for Undelivered Orders],[,Expended Appropriations],[,Unapportioned Authority],[,],[$ 1,150,000,Total Appropriation]]
Exercise 1 4 - 7 ( Algo ) Assume a federal agency

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!