One amount is missing in the following trial balance of proprietary accounts, and another is missing from the trial balance of budgetary accounts of the Save Our Resources Commission of the federal government. This trial balance was prepared before budgetary accounts were adjusted, such as returning unused appropriations. The debits are not distinguished from the credits. SAVE OUR RESOURCES COMMISSION Preclosing Trial Balance September 30, 2023 Proprietary accounts: Accounts Payable Accumulated Depreciation-Plant and Equipment Appropriations Used Fund Balance with Treasury-2023 Operating Materials and Supplies Cumulative Results of Operations-10/1/22 Operating/Program Expenses Depreciation and Amortization Plant and Equipment Unexpended Appropriations-2023 Budgetary accounts: Other Appropriations Realized-2023 Expended Authority-2023 Undelivered Orders-2023 Allotments-2023 $ 230,000 4,800,000 4,500,000 63,000 1.009.000 2,150,000 750,000 7,400,000 410,000 2 4,500,000 310,000 100,000 Required a. Complete the following preclosing Trial Balance. b. Compute the net additions (or reductions) to assets other than Fund Balance with Treasury during fiscal year 2023. c. Prepare journal entries to close the budgetary accounts as needed and to close the operating statement proprietary accounts.
One amount is missing in the following trial balance of proprietary accounts, and another is missing from the trial balance of budgetary accounts of the Save Our Resources Commission of the federal government. This trial balance was prepared before budgetary accounts were adjusted, such as returning unused appropriations. The debits are not distinguished from the credits. SAVE OUR RESOURCES COMMISSION Preclosing Trial Balance September 30, 2023 Proprietary accounts: Accounts Payable Accumulated Depreciation-Plant and Equipment Appropriations Used Fund Balance with Treasury-2023 Operating Materials and Supplies Cumulative Results of Operations-10/1/22 Operating/Program Expenses Depreciation and Amortization Plant and Equipment Unexpended Appropriations-2023 Budgetary accounts: Other Appropriations Realized-2023 Expended Authority-2023 Undelivered Orders-2023 Allotments-2023 $ 230,000 4,800,000 4,500,000 63,000 1.009.000 2,150,000 750,000 7,400,000 410,000 2 4,500,000 310,000 100,000 Required a. Complete the following preclosing Trial Balance. b. Compute the net additions (or reductions) to assets other than Fund Balance with Treasury during fiscal year 2023. c. Prepare journal entries to close the budgetary accounts as needed and to close the operating statement proprietary accounts.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:One amount is missing in the following trial balance of proprietary accounts, and another is missing from the trial balance of budgetary
accounts of the Save Our Resources Commission of the federal government. This trial balance was prepared before budgetary
accounts were adjusted, such as returning unused appropriations. The debits are not distinguished from the credits.
SAVE OUR RESOURCES COMMISSION
Preclosing Trial Balance
September 30, 2023
Proprietary accounts:
Accounts Payable
Accumulated Depreciation-Plant and Equipment
Appropriations Used
Fund Balance with Treasury-2023
Operating Materials and Supplies
Cumulative Results of Operations-10/1/22
Operating/Program Expenses
Depreciation and Amortization
Plant and Equipment
Unexpended Appropriations-2023
Budgetary accounts:
Other Appropriations Realized-2023
Expended Authority-2023
Undelivered Orders-2023
Allotments-2023
$ 230,000
4,800,000
4,500,000
?
63,000
1,009,000
2,150,000
750,000
7,400,000
410,000
4,500,000
310,000
100,000
Required
a. Complete the following preclosing Trial Balance.
b. Compute the net additions (or reductions) to assets other than Fund Balance with Treasury during fiscal year 2023.
c. Prepare journal entries to close the budgetary accounts as needed and to close the operating statement proprietary accounts.
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