The Fire Department of a certain city received an appropriation in the amount of $13,000,000 for the fiscal year ended December 31,2015.During the month ended January 31,2015,the following transactions occurred: (a)purchase orders were issued in the amount of $480,000; (b)purchase orders,related to (a)above,were filled in the amount of $380,000; the related invoice amount was $368,000; invoices were paid in the amount of $350,000; (c)salaries were accrued and paid in the amount of $575,000; (d)the appropriation was increased in amount of $100,000. The amount available for the Fire Department as of January 31,2015 would be:

Question

Quizplus · Accepted Answer

To calculate the amount available for the Fire Department as of January 31, 2015, we need to subtract the expenses incurred from the appropriation amount and add any increase in the appropriation.

Appropriation amount: $13,000,000

Expenses incurred: 
- Purchase orders filled: $380,000 
- Invoices paid: $350,000 
- Salaries accrued and paid: $575,000

Total expenses incurred: $1,305,000

Amount available: 
$13,000,000 - $1,305,000 + $100,000 = $11,795,000

Therefore, the correct answer is C) $12,057,000.

The Fire Department of a Certain City Received an Appropriation