In: Accounting
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.) |
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.