1:03 O A J •A O N ll 8% £REGISTRIES and entriesOn what registries the following should berecorded, show an illustration for EACH ITEMSDepartment of Health receives the following1) APPROPRIATION- 900,000,000Breakdown as followsPS- 400,000,000МОЕ- 200,000,000FECO- 300,000,0002) ALLOTMENT- 800,000,000Breakdown as followsPS- 350,000,000МОE- 150,000,000FECO- 300,000,0003) Incurrence of Obligationa. Employment contracts- 120,250,000b. Other expenses- 1, 258,000c. Capital outlays- 20,500,0004) DOH receives 750,000,000 NCA net of taxfrom DBMU AII!!!

Journal entry:The monetary transaction of the business is recorded in the books of accounts called…

REGISTRIES and entries On what registries the following should be recorded, show an illustration for EACH ITEMS Department of Health receives the following 1) APPROPRIATION- 900,000,000 Breakdown as follows PS-400,000,000 MOOE-200,000,000 FE CO-300,000,000 2) ALLOTMENT- 800,000,000 Breakdown as follows PS- 350,000,000 MOOE-150,000,000 FE CO-300,000,000 3) Incurrence of Obligation a. Employment contracts- 120,250,000 b. Other expenses- 1, 258,000 c. Capital outlays- 20,500,000 4) DOH receives 750,000,000 NCA net of tax from DBM

REGISTRIES and entries On what registries the following should be recorded, show an illustration for EACH ITEMS Department of Health receives the following 1) APPROPRIATION- 900,000,000 Breakdown as follows PS-400,000,000 MOOE-200,000,000 FE CO-300,000,000 2) ALLOTMENT- 800,000,000 Breakdown as follows PS- 350,000,000 MOOE-150,000,000 FE CO-300,000,000 3) Incurrence of Obligation a. Employment contracts- 120,250,000 b. Other expenses- 1, 258,000 c. Capital outlays- 20,500,000 4) DOH receives 750,000,000 NCA net of tax from DBM

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

A governmental fund’s Statement of Revenues, Expenditures, and Changes in Fund Balances reported expenditures for capital outlay in the amount of $5,000,000. Capital assets for that government cost $110,000,000, including $20,000,000 in land. Depreciable assets are amortized over 20 years, on average. The reconciliation from the governmental funds changes in fund balances to the governmental activities change in Net Position would reflect a(an): Multiple Choice A. Increase of $250,000. B. Increase of $500,000. C. Decrease of $250,000. D. Decrease of $500,000.
(answer in text form please (without image), Note: .Every entry should have narration please)
Activities of a county recreation center are reported in an enterprise fund. During 2019, $5,000,000 is spent on equipment and bonds are issued for $3,000,000. How are these two transactions reported on the enterprise fund’s operating statement? a. No effect b. Revenues, $3,000,000; expenditures, $5,000,000 c. Other financing sources, $3,000,000 d. Other financing sources, $3,000,000; expenditures, $5,000,000
During 2024, the following transactions were recorded by the Port Hudson Community Hospital, a private-sector not-for-profit institution: Gross charges for patient services, all charged to Patient Accounts Receivable, amounted to $1,675,000. Estimated contractual adjustments with third-party payors amounted to $405,000, and the hospital estimated implicit price concessions totaling 35,000. Charity services, not included in transaction 1, would amount to $66,000 had billings been made at gross amounts. Other revenues received in cash were parking lot, $20,000; cafeteria, $35,000; gift shop, $5,000. Cash gifts restricted by the donor for programs amounted to $32,000 for the year. During the year, $50,000 was expended for technician salaries supporting the program identified by the donor (Debit Operating Expense—Salaries and Benefits). Mortgage bond payments amounted to $50,000 for principal and $28,000 for interest. Assume unrestricted resources are used. During the year, the…
The information below pertains to the retiree health care plan of Thompson Technologies: Accumulated postretirement benefit obligation Plan assets Funded status Prior service cost-AOCI Net gain-AOCI ($ in thousands) 2024 Beginning 2024 Ending Balances Balances $ 450 $475 0 1. Service cost 2. Postretirement benefit expense 3. Net benefit liability (450) 125 (51) Thompson began funding the plan in 2024 with a contribution of $128,000 to the benefit fund at the end of the year. Retirees were paid $53,000. The actuary's discount rate is 6%. There were no changes in actuarial estimates and assumptions. (S in thousands) 75 (400) 112 (50) Required: 1. Determine the service cost for 2024. 2. Determine the postretirement benefit expense for 2024. 3. Determine the net benefit liability for 2024. Note: For all requirements, enter your answers in thousands (i.e. 200,000 should be entered as 200).
Under Cura Hospital’s established rate structure, patient service revenues of $9,000,000 would have been earned for the year ended December 31, 2019. However, only $6,750,000 was collected because of charity allowances of $1,500,000 and discounts of $750,000 to third-party payors. For the year ended December 31, 2019, what amount should Cura record as net patient service revenues? a. $6,750,000 b. $7,500,000 c. $8,250,000 d. $9,000,000
Computation of a government's budgetary cushion Following are extracts from a city's General Fund balance sheet and statement of revenues, expenditures, and changes in fund balance. General Fund Extracts Fund Balance: Nonspendable (supplies inventory) $59,760 28,600 Restricted (intergovernmental grant) 110,000 Assigned (appropriated for next year's budget) Assigned (for future OPEB expenditures) 16,500 Unassigned 1,292,740 Total fund balance $1,507,600 Total revenues $31,339,000 Transfers in (all recurring) $400,400 a) How much (in dollars) is available to help balance future budgets? $ b) Calculate the budgetary cushion. Round the percentage to one decimal. % c) Using the rule of thumb suggested in the text, would the budgetary cushion be considered be considered reasonable, too high, or too low?
Prepare a preclosing trial balance for the General Fund as of December 31, 2021.
A
The Mosquito Abatement Commission is a newly organized federal agency with three primary programs: coordinating state government abatement functions, conducting research on mosquito abatement, and promoting abatement through public education. The following information is available at the end of the first quarter (December 31, 2020): Apportionments from OMB Allotments-first quarter Salaries paid Accrued salaries payable Supplies ordered and received Supplies used Depreciation Equipment purchases Program revenue: Charges for service Costs by Strategic Goal Coordinate State Government Abatement Programs Total Gross Cost Conduct Research on Mosquito Abatement Total Gross Cost MOSQUITO ABATEMENT COMMISSION Statement of Net Cost For the Quarter Ended December 31, 2020 Promote Abatement Through Public Education Total Gross Cost Government Coordination Research Less: Program Revenues Net Cost Total Entity Total Gross Program Cost Less: Program Revenues Net Cost (Income) from Operations…
During the current year, a voluntary health and welfare organization receives $800,000 in unrestricted pledges. Of this amount, $300,000 has been designated by donors for use next year to support operations in the pharmacy. what amount of unrestricted support should the organizations recognize in its current-year financial statements? A.) $800,000 B.) $700,000 C.) $500,000 D.) $400,000
Projected revenue for year 20X1 is as follows: $823,155 in January, $685,546 in February, $454,050 in March, and $811,904 in April. Historical net revenues categorized by payer: Payer Revenue Percent Medicare 8,931,228 Medicaid 11,906,868 Blue Cross 10,159,306 Private 5,082,192 Total ? Collection patterns by payer: Payer Within 1 Month Within 2 Months Within 3 Months Within 4 Months Total Medicare 18% 26% 28% ? 100% Medicaid 6% 20% 49% ? 100% Blue Cross 11% 43% 26% ? 100% Private 59% 28% 6% ? 100% How much revenue do we expect to collect in total in March? (Do not round intermediate calculations. Round your final answer to 2 decimal places. Omit the "$" sign and commas in your response. For example, $12.3456 should be entered as 12.35.)