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B. Prepare meant of changes in that position for the quarter ended December 31

C. Prepare balance sheet as of December 31

Assume the Scenic Rivers Commission (a federal agency) began the fiscal year with the following account balances: 1. Congress passed a spending bill providing $14,300,000 to fund the agency's operations for the year. 2. During the first quarter, the commission processed (accounts payable) the following items for payment. 3. The commission processed wages and benefits through wages payable in the amount of $712,000. 4. Unexpended oppropriations were reclassified to expended appropriations for the items above. 5. Accounts payable of $2,620,000 and woges payable of $722,000 were pald by Treasury. 6. Unused supplies on hand totaled $215,000 at December 31 . 7. Depreciation for the quarter is $81,400 Required: a. Prepare journal entries in the proprietary accounts for the events described above b. Prepare a Stotement of Changes in Net Position for the quarter ended December 31 c. Prepare a Balance Sheet as of December 31 SCENIC RIVERS COMMISSION Statement of Changes in Net Position For the Quarter Ended December 31, 2024 \begin{tabular}{|c|c|c|c|} \hline \multirow[b]{2}{*}{ Beginning Balance } & \multicolumn{2}{|c|}{\begin{tabular}{l} Cumulative \\ Results of \\ Operations \end{tabular}} & \multirow[t]{2}{*}{\begin{tabular}{l} Unexpended \\ Appropriations \end{tabular}} \\ \hline & $ & 936,000 & \\ \hline Appropriations Received & & + & 14,300,000 \\ \hline \multicolumn{4}{|l|}{ Appropriations Used } \\ \hline \multicolumn{4}{|l|}{ Other Financing Sources } \\ \hline \multicolumn{4}{|l|}{ Total Financing Sources } \\ \hline \multicolumn{4}{|l|}{ Net Cost of Operations } \\ \hline Ending Balance & 7 & & 7 \\ \hline \end{tabular} Prepare a Balance Sheet as of December 31 . SCENIC RIVERS COMMISSION Balance Sheet As of December 31,2024 \begin{tabular}{|l|l|} \hline Assets: & \\ \hline Intragovernmental: & \\ \hline & \\ \hline Governmental: & \\ \hline & \\ \hline & \\ \hline Total Assets & \\ \hline Liabilities: & \\ \hline & \\ \hline & \\ \hline & \\ \hline \end{tabular}

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