Complete this question by entering your answers in the tabs below. Required A Required B Required C "repare journal entries in the proprietary accounts for the events described above. (If no entry is required for a ransaction/event, select "No Journal Entry Required" in the first account field.) Transaction General Journal Debit Credit No Fund Balance with Treasury 16, 100,000 16,100,000 Unexpended Appropriations 2 Accounts Payable 127,000 Wages Payable Supplies Equipment Program Expenses 81,000 O 502,000 510,000 2,506,000 Fund Balance with Treasury 3,726,000 Program Expenses Wages Payable 3 26,000 O 26,000 Supplies Program Expenses 4 13,000 71,000 Accounts Payable 84,000 Program Expenses Supplies 5. 388,000 O 6. Program Expenses 62,000 Accumulated Depreciation 62,000
Complete this question by entering your answers in the tabs below. Required A Required B Required C "repare journal entries in the proprietary accounts for the events described above. (If no entry is required for a ransaction/event, select "No Journal Entry Required" in the first account field.) Transaction General Journal Debit Credit No Fund Balance with Treasury 16, 100,000 16,100,000 Unexpended Appropriations 2 Accounts Payable 127,000 Wages Payable Supplies Equipment Program Expenses 81,000 O 502,000 510,000 2,506,000 Fund Balance with Treasury 3,726,000 Program Expenses Wages Payable 3 26,000 O 26,000 Supplies Program Expenses 4 13,000 71,000 Accounts Payable 84,000 Program Expenses Supplies 5. 388,000 O 6. Program Expenses 62,000 Accumulated Depreciation 62,000
Survey of Accounting (Accounting I)
8th Edition
ISBN:9781305961883
Author:Carl Warren
Publisher:Carl Warren
Chapter8: Liabilities And Stockholders' Equity
Section: Chapter Questions
Problem 8.1.2MBA
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Question
Requirement A
![Answer is not complete.
Complete this question by entering your answers in the tabs below.
Required A
Required B
Required C
Prepare journal entries in the proprietary accounts for the events described above. (If no entry is required for a
transaction/event, select "No Journal Entry Required" in the first account field.)
Debit
Credit
No
Transaction
General Journal
Fund Balance with Treasury
Unexpended Appropriations
16, 100,000
1.
16,100,000
2
Accounts Payable
127,000 O
2.
Wages Payable
Supplies
Equipment
Program Expenses
81,000 O
502,000 O
510,000 O
2,506,000
Fund Balance with Treasury
3,726,000
3
Program Expenses
26,000
Wages Payable
26,000
4
4
Supplies
13,000
Program Expenses
71,000
Accounts Payable
84,000
Program Expenses
Supplies
5.
388,000 O
Program Expenses
62,000
Accumulated Depreciation
62,000](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F76570f9e-2026-4f37-aed0-0933a6b24ae0%2F66f31aeb-550c-493d-ba32-590b5bd31aee%2Flvj8gp_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Answer is not complete.
Complete this question by entering your answers in the tabs below.
Required A
Required B
Required C
Prepare journal entries in the proprietary accounts for the events described above. (If no entry is required for a
transaction/event, select "No Journal Entry Required" in the first account field.)
Debit
Credit
No
Transaction
General Journal
Fund Balance with Treasury
Unexpended Appropriations
16, 100,000
1.
16,100,000
2
Accounts Payable
127,000 O
2.
Wages Payable
Supplies
Equipment
Program Expenses
81,000 O
502,000 O
510,000 O
2,506,000
Fund Balance with Treasury
3,726,000
3
Program Expenses
26,000
Wages Payable
26,000
4
4
Supplies
13,000
Program Expenses
71,000
Accounts Payable
84,000
Program Expenses
Supplies
5.
388,000 O
Program Expenses
62,000
Accumulated Depreciation
62,000
![ssume the Federal Interstate Commission began the fiscal year with the following account balances:
FEDERAL INTERSTATE COMMISSION
Trial Balance
October 1, 2020
Debits
Credits
Pund Balance with Treasury
Supplies
Equipment
Accumulated Depreciation
Accounts Payable
Wages Payable
Cumulative Results of Operations
$ 732,000
106,000
1,353,000
$ 481,000
127,000
81,000
1,502,000
$2,191,000 $2,191,000
Congress passed a spending bill providing $16,100,000 to fund the agency's operations for the year.
During the first quarter the commission processed the following items for payment (all items were paid by Treasury in the first
quarter).
Accounts payable
Wages payable
Salarien and benefits
Supplies
Contracted services
$ 127,000
81,000
496,000
502,000
1,100,000
910,000
510,000
$3,726,000
Grants
Equipment
Total
B. Unpaid wages at the end of the quarter totaled $26,000.
4. In addition to the items paid in item 2, the commission received supplies of $13,000 and contracted services of $71,000 that are to
be processed for payment in January.
5. Unused supplies on hand totaled $216,000 at December 31.
5. Depreciation for the quarter is $62,000.
Required:
. Prepare Journal entries in the proprietary accounts for the events described above.
. Prepare a Statement of Changes in Net Position for the quarter ended December 31. (Assume the amount of appropriations used is
3,914,000.)
E. Prepare a Balance Sheet as of December 31.
Answer is not complete.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F76570f9e-2026-4f37-aed0-0933a6b24ae0%2F66f31aeb-550c-493d-ba32-590b5bd31aee%2Fg0tplyo_processed.jpeg&w=3840&q=75)
Transcribed Image Text:ssume the Federal Interstate Commission began the fiscal year with the following account balances:
FEDERAL INTERSTATE COMMISSION
Trial Balance
October 1, 2020
Debits
Credits
Pund Balance with Treasury
Supplies
Equipment
Accumulated Depreciation
Accounts Payable
Wages Payable
Cumulative Results of Operations
$ 732,000
106,000
1,353,000
$ 481,000
127,000
81,000
1,502,000
$2,191,000 $2,191,000
Congress passed a spending bill providing $16,100,000 to fund the agency's operations for the year.
During the first quarter the commission processed the following items for payment (all items were paid by Treasury in the first
quarter).
Accounts payable
Wages payable
Salarien and benefits
Supplies
Contracted services
$ 127,000
81,000
496,000
502,000
1,100,000
910,000
510,000
$3,726,000
Grants
Equipment
Total
B. Unpaid wages at the end of the quarter totaled $26,000.
4. In addition to the items paid in item 2, the commission received supplies of $13,000 and contracted services of $71,000 that are to
be processed for payment in January.
5. Unused supplies on hand totaled $216,000 at December 31.
5. Depreciation for the quarter is $62,000.
Required:
. Prepare Journal entries in the proprietary accounts for the events described above.
. Prepare a Statement of Changes in Net Position for the quarter ended December 31. (Assume the amount of appropriations used is
3,914,000.)
E. Prepare a Balance Sheet as of December 31.
Answer is not complete.
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