Prepare Appropriations, Encumbrances, Expenditure and Fund Balance Ledger from the following information Jan 1 Ministry of...
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Prepare Appropriations, Encumbrances, Expenditure and Fund Balance Ledger from the following information Jan 1 Ministry of Finance made an appropriation of OMR 1500,000 to College of Medicine. Jan 10 The College issued a purchase order, for medical supplies (OMR80,000) and two latest machineries for the Surgical department (OMR150,000 each) Feb 1 General operating expenditure incurred and paid OMR15,000 March 1 The college received 40% of the supplies along with a voucher of OMR30,000. March 15 The supplier elivery one machinery along with a voucher OMR 150,000 April The college entered into a contract with MHD Consulting for constructing a recreational center in the college. An amount of OMR 500,000 is allocated towards the contract. The work is expected to be completed by the end of the year. May 10 Construction is certified to complete 10% and the contractor has submited a voucher for OMR50,000. Payment is made based on the voucher.. June 1 50% of the supplies ordered on January 10 was received. The voucher stated the amount OMR 40,000. Payment is immediately processed The supplier of the machinery informed their inability to supply the second machinery. Hence the contract is cancelled. July 10 Operating expenditure paid OMR80,000 August Prepare Appropriations, Encumbrances, Expenditure and Fund Balance Ledger from the following information Jan 1 Ministry of Finance made an appropriation of OMR 1500,000 to College of Medicine. Jan 10 The College issued a purchase order, for medical supplies (OMR80,000) and two latest machineries for the Surgical department (OMR150,000 each) Feb 1 General operating expenditure incurred and paid OMR15,000 March 1 The college received 40% of the supplies along with a voucher of OMR30,000. March 15 The supplier elivery one machinery along with a voucher OMR 150,000 April The college entered into a contract with MHD Consulting for constructing a recreational center in the college. An amount of OMR 500,000 is allocated towards the contract. The work is expected to be completed by the end of the year. May 10 Construction is certified to complete 10% and the contractor has submited a voucher for OMR50,000. Payment is made based on the voucher.. June 1 50% of the supplies ordered on January 10 was received. The voucher stated the amount OMR 40,000. Payment is immediately processed The supplier of the machinery informed their inability to supply the second machinery. Hence the contract is cancelled. July 10 Operating expenditure paid OMR80,000 August
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Appropriations Account Date Particulars ValueOMR Date Particulars ValueOMR Expenditure 407000 11 Fun... View the full answer
Related Book For
Accounting for Governmental and Nonprofit Entities
ISBN: ?978-0073379609
15th Edition
Authors: Earl R. Wilson, Jacqueline L Reck, Susan C Kattelus
Posted Date:
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