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).

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. 

Transcribed Image Text:

Budgetary entry: Description Debit Credit 15,000 15,000 Proprietary entry: Description Debit Credit 15,000 15,000 Accrued funded payroll Accumulated depreciation - equipment Allotments - realized resources Delivered orders - obligations, unpaid 4. Expended appropriations f $25,000 on its equiphme Future funded expenses BU Program costs - depreciation Program costs - salaries Undelivered orders - obligations, unpaid A Unexpended appropriations - used Debit Credit 25000 Unfunded leave 25,000 No entry Budgetary entry: Description Debit Credit 15,000 15,000 Proprietary entry: Description Debit Credit 15,000 15,000 Accrued funded payroll Accumulated depreciation - equipment Allotments - realized resources Delivered orders - obligations, unpaid 4. Expended appropriations f $25,000 on its equiphme Future funded expenses BU Program costs - depreciation Program costs - salaries Undelivered orders - obligations, unpaid A Unexpended appropriations - used Debit Credit 25000 Unfunded leave 25,000 No entry

Answer rating: 100% (QA)

No Journal Entry need to be made for cancelled Purchase Order which was ... View the full answer