Assume a federal agency has the following events: 1. Receives a warrant from the Treasury...
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Accounting
Assume a federal agency has the following events: 1. Receives a warrant from the Treasury notifying the agency of appropriations of $4,550,000. 2. OMB apportions one-fourth of the appropriation for the first quarter of the year. 3. The director of the agency allots $1,054,000 to program units. 4. Program units place orders of $750,000. 5. Supplies ($124,500) and services ($519,500) are received during the first quarter. Supplies of $113,000 were used in the quarter. Accounts payable were paid in full. Required: Prepare a schedule showing the status of the appropriation at the end of the first quarter
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