Question

In: Accounting

he trial balance of the Federal Antiquities Administration, as of August 31, 2017, follows: Debits Credits...

he trial balance of the Federal Antiquities Administration, as of August 31, 2017, follows:

	Debits		Credits
Budgetary Accounts
Other Appropriations Realized—2017	$	4,905,355
Other Appropriations Realized—2016		1,210,510
Allotments—2017			$	603,000
Commitments—2017				151,500
Undelivered Orders—2017				667,131
Expended Authority—2017				3,483,724
Expended Authority—2016				1,210,510

Total Budgetary Accounts	$	6,115,865	$	6,115,865

Required

Prepare a statement of budgetary resources for the 11 months ended August 31, 2017, assuming that goods on order at the end of the prior year amounted to $1,210,510. (Negative amounts should be indicated by a minus sign.)

Expert Solution

Solution:-

Federal Antiquities Administration
Statement of Budgetary Resources
for the 11 months ended August 31, 2017

Budgetary Resources:
Budget Authority:
Appropriations Received 2017	$4,905,355
Total Budgetary Resources	$4,905,355

Status of Budgetary Resources:
Obligations incurred	$4,150,855
Unobligated Balances	$7,54,500
Total Status of Budgetary Resources	$4,905,355

Change in Obligated Balance:
Unpaid obligations in the beginning of the period	$1,210,510
Obligations incurred	$4,150,855
Outlays	($4,694,234)
Unpaid Obligations, End of Period	$667,131

Notes:-

1.Obligation incurred-

Expended authority of 2017 $ 3,483,724

Add: undelivered orders - 2017 $ 667,131

(Obligated budgetary authority)

Total $ 4,150,855

1.Unobligated balances –

Allotments 2017 $ 603,000

Commitments 2017 $ 151,500

Total $ 7,54,500

1.Outlays:

Expended authority or

Decrease in fund balance with the federal authority during the period –

Expended authority $ 3,483,724

Add: Beginning balance $ 1,210,510

Outlays $ 46,94,234

1.Obligated balance, end of period = undelivered orders 2017

$ 667,131 = $ 667,131

1.Balance of other Appropriations Realized – 2017, $4,905,355 represent the Total Budgetary Resources.

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