The Federal Monuments Commission began operations on October 1,2014.Show in general journal form all entries that should be made in budgetary and proprietary accounts of the agency to record the following events:
A.The Congress passed,and the President signed,a one-year appropriation for fiscal year 2015 for the Monuments Commission in the amount of $30,000,000.
B.The OMB notified the agency of the following apportionments of the 2015 appropriation: first quarter,$8,000,000; second quarter,$8,000,000; third quarter,$7,000,000; and fourth quarter,$7,000,000.
C.The Commission Director allotted $1,500,000 for the operations of October 2014.
D.Commitments for goods and services not yet ordered or received were recorded in the amount of $1,300,000.
E.Purchase orders and contracts for services were recorded for the month of October 2014 in the amount of $1,250,000.

Question

The Federal Monuments Commission began operations on October 1,2014.Show in general journal form all entries that should be made in budgetary and proprietary accounts of the agency to record the following events:
A.The Congress passed,and the President signed,a one-year appropriation for fiscal year 2015 for the Monuments Commission in the amount of $30,000,000.
 B.The OMB notified the agency of the following apportionments of the 2015 appropriation: first quarter,$8,000,000; second quarter,$8,000,000; third quarter,$7,000,000; and fourth quarter,$7,000,000.
 C.The Commission Director allotted $1,500,000 for the operations of October 2014.
 D.Commitments for goods and services not yet ordered or received were recorded in the amount of $1,300,000.
 E.Purchase orders and contracts for services were recorded for the month of October 2014 in the amount of $1,250,000.

Quizplus · Accepted Answer

The Answer of The Federal Monuments Commission began operations on October 1,2014.Show in general journal form all entries that should be made in budgetary and proprietary accounts of the agency to record the following events:
A.The Congress passed,and the President signed,a one-year appropriation for fiscal year 2015 for the Monuments Commission in the amount of $30,000,000.
 B.The OMB notified the agency of the following apportionments of the 2015 appropriation: first quarter,$8,000,000; second quarter,$8,000,000; third quarter,$7,000,000; and fourth quarter,$7,000,000.
 C.The Commission Director allotted $1,500,000 for the operations of October 2014.
 D.Commitments for goods and services not yet ordered or received were recorded in the amount of $1,300,000.
 E.Purchase orders and contracts for services were recorded for the month of October 2014 in the amount of $1,250,000.

The Federal Monuments Commission Began Operations on October 1,2014