A federal agency received $900,000 as its annual appropriation from Congress. How would the appropriation be recorded by the agency?
A. In the budgetary track debit Fund Balance with Treasury $900,000, and credit Unapportioned Authority $900,000; in the proprietary track debit Other Appropriations Realized $900,000, and credit Unexpended Appropriations $900,000.
B. In the budgetary track debit Other Appropriations Realized $900,000, and credit Unapportioned Authority $900,000. In the proprietary track no entry is recorded since the transaction involves the budget.
C. In the budgetary track debit Other Appropriations Realized $900,000, and credit Unexpended Appropriations; in the proprietary track debit Fund Balance with Treasury $900,000, and credit Unapportioned Authority $900.000.
D. In the budgetary track debit Other Appropriations Realized $900,000, and credit Unapportioned Authority $900,000; in the proprietary track debit Fund Balance with Treasury, and credit Unexpended Appropriations.
Answer: D
You might also like to view...
Which of the following statements is true?
a. An entry in a general ledger account can be traced to the trial balance by referring to the page listed in the posting reference column of that ledger account. b. The posting of an amount recorded in the general journal can be verified by referring to the account number listed in the posting reference column on that line in the general journal. c. Business transactions are recorded first in the general ledger; then that information is transferred to the general journal. d. No explanation is needed for each entry in the general journal.
Sawaddee Enterprises began the year with total assets of $450,000 and total liabilities of $230,000 . If Sawaddee's total assets doubled to $900,000 and its owners' equity remained the same during the year, what was the amount of its total liabilities at the end of the year?
a. $670,000 b. $680,000 c. $440,000 d. $900,000
The process of identifying the required competencies for a job is called the ______.
a. talent profile b. job description c. job analysis d. job assessment
The marketing research process should be modified so that it does not conflict with the cultural values of a foreign society
Indicate whether the statement is true or false