Assume a federal agency has the following events: 1. Receives a warrant from the Treasury notifying the agency of appropriations of $4,950,000. 2. OMB apportions one-fourth of the appropriation for the first quarter of the year. 3. The director of the agency allots $1,148,000 to program units. 4. Program units place orders of $819,000. 5. Supplies ($135,500) and services ($567,500) are received during the first quarter. Supplies of $123,000 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. $ Amount Status Unapportioned Authority Apportionments Allotments Obligations for Undelivered Orders Obligations - Delivered Orders 0 Total Appropriation
Assume a federal agency has the following events: 1. Receives a warrant from the Treasury notifying the agency of appropriations of $4,950,000. 2. OMB apportions one-fourth of the appropriation for the first quarter of the year. 3. The director of the agency allots $1,148,000 to program units. 4. Program units place orders of $819,000. 5. Supplies ($135,500) and services ($567,500) are received during the first quarter. Supplies of $123,000 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. $ Amount Status Unapportioned Authority Apportionments Allotments Obligations for Undelivered Orders Obligations - Delivered Orders 0 Total Appropriation
Managerial Accounting
15th Edition
ISBN:9781337912020
Author:Carl Warren, Ph.d. Cma William B. Tayler
Publisher:Carl Warren, Ph.d. Cma William B. Tayler
Chapter8: Budgeting
Section: Chapter Questions
Problem 21E: Capital expenditures budget On January 1, 20Y6, the controller of Omicron Inc. is planning capital...
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
Transcribed Image Text:Assume a federal agency has the following events:
1. Receives a warrant from the Treasury notifying the agency of appropriations of $4,950,000.
2. OMB apportions one-fourth of the appropriation for the first quarter of the year.
3. The director of the agency allots $1,148,000 to program units.
4. Program units place orders of $819,000.
5. Supplies ($135,500) and services ($567,500) are received during the first quarter. Supplies of $123,000 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.
$
Amount
Status
Unapportioned Authority
Apportionments
Allotments
Obligations for Undelivered Orders
Obligations - Delivered Orders
0 Total Appropriation
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