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32 Cards in this Set
- Front
- Back
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Suppose agency anticipates $50,000 from spending authority from offsetting collections, what is entry? (this is prior to apportionment)
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4210 Anticipated Reimbursements and Other Income 50,000
4450 Unapportioned Authority 50,000 |
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4210
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Anticipated Reimbursements and Other Income
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Anticipated Reimbursements and Other Income
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4210
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Suppose resources have been approved for appropriation but are unavailable for allotment because they are anticipated reimbursables; what is the full entry, from appropriation until apportionment for $50,000 in anticipated unavailable resources?
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Step 1 appropriation of anticipated reimbursables
dr 4210 50,000 cr 4450 50,000 Step 2 apportionment dr 4450 50,000 cr 4590 Apportionments Unavail – Antic Resources 50,000 |
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Suppose an order is placed and entered for 20,000, the customer is another agency, this is standard reimburable activity; what is the entry for performing firm? (there is no advance; funds are now available for allotment)
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dr 4221 Unfilled Customer Orders w/o Advance 20,000
cr 4210 Antic Reimbursement & Other Income 20,000 dr 4590 Apportionments Unavail – Anticipated Resrces 20,000 cr 4610 Allotments – Realized Resources 20,000 |
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Suppose agency incurs and pays general operating expense of $40,000, what is the entry? (this is direct appropriation; goods were not obligated)
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d 4610 40,000
c 4902 " d 6100 c 1010 d 3107 c 5700 |
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Suppose performing agency accepts an order from another agency for $25,000 and an advance is received for 25,000; automatic allotment of anticipated resources realized; what is the entry?
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Dr 4222 Unfilled Customer Orders with Advance 25,000
Cr 4210 Antic Reimbursement & Other Income 25,000 Dr 4590 Apportionments Unavail – Anticipated Resrces 25,000 Cr 4610 Allotments – Realized Resources 25,000 Dr 1010 Fund Balance With Treasury 25,000 Cr 2310 Advances from Others |
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Suppose performing fund provides services worth 20,000 to federal entity as stipulated in open order; what is the entry? (assume no advance was received; an invoice was sent to the ordering fund the day services were performed)
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Dr 4251 Reimbursements & Other Income Ernd – Rcvbl 20,000
Cr 4221 Unfilled Customer Orders w/o Advance 20,0000 Dr 1310 Accounts Receivable 20,000 5200 Revenue From Services Provided 20,000 |
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Suppose the performing agency receives a payment of 20,000 for an order; the services were already performed; the customer is another agency; what is the entry for the performing firm?
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Dr 4252 Reimbs & Other Income Ernd - Collected 20,000
Cr 4251 Reimbs & Other Income Ernd –Rcvbl 20,000 Dr 1010 Fund Balance With Treasury 20,000 Cr 1310 Accounts Receivable 20,000 |
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The performing fund provides services as stipulated to federal ordering entity for an open order and applies advance of $25,000. What is entry for performing agency?
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Dr 4252 Reimbursements & Other Income Earned – Collected 25,000
Cr 4222 Unfilled Customer Orders with Advance 25,000 Dr 2310 Advances from Others 25,000 Cr 5200 Revenue From Services Provided 25,000 |
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The performing fund records depreciation on equipment 10,000.
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Dr 6710 Depreciation, amortization and depletion 10,000
Cr 1759 Accumulated Depreciation on Equipment 10,000 No budgetary entry, no B134 |
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What is entry if an appropriation of $100,000 is provided as initial start-up capital, no specific restrictions are made on the use of the appropriated funds?
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d 4119-Other Appropriations Realized 100,000
c 4450 100,000 d 1010 100,000 c 3101 Unexpended Approps-Approps Rcvd 100,000 |
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The agency’s annual Appropriations Act includes an authorization for a transfer from an agency no-year general fund to the revolving fund for an amount not to exceed $30,000. Revolving fund use of funds is unrestricted. The agency requests a non-expenditure appropriation transfer using an SF-1151 that is APPROVED and PROCESSED by Treasury.
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Dr 4170 Transfer – Current Year Authority 30,000
Cr 4450 Unapportioned Authority 30,000 Dr 1010 Fund Balance With Treasury 30,000 Cr 3102 Unexpended Approps-Transfer In 30,000 |
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The revolving fund anticipates $170,000 from spending authority from offsetting collections. (this is prior to apportionment)
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dr 4210 Anticipated Reimbursements and Other Income 170,000
cr 4450 Unapportioned Authority 170,000 |
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The OMB approves the SF-132 as submitted for apportionment of $300,000. ($100,000 general fund appropriation + $30,000 appropriation transfer + $170,000 anticipated from spending authority from offsetting collections.)
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Dr 4450 Unapportioned Authority 300,000
cr 4510 Apportionments 130,000 cr 4590 Apportionments Unavail – Antic Resources 170,000 |
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The agency head ALLOTS the available apportionment of 130,000.
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dr 4510 Apportionments 130,000
cr 4610 Allotments – Realized Resources 130,000 |
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The revolving fund incurs and pays for general operating expenses of $25,000. Unrestricted appropriated funds used to cover obligation. (this transaction was completed without an order)
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dr 4610 25,000
cr 4902 Delivered Orders – Obligations, Paid 25,000 dr 6100 Operating Expenses/Program Costs 25,000 cr 1010 Fund Balance With Treasury dr 3107 Unexpended 25,000 Appropriations – Used 5700 Expended Appropriations 25,000 |
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The revolving fund accepts a new order. A $74,000 order for equipment from another federal entity’s annual TAFS without an advance. Automatic allotment of anticipated resources realized.
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dr 4221 Unfilled Customer Orders w/o Advance 74,000
cr 4210 Antic Reimbursement & Other Income 74,000 dr 4590 Apportionments Unavail – Anticipated Resrces 74,000 cr 4610 Allotments – Realized Resources 74,000 |
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Agency orders equipment from another federal agency for $74,000, no advance. What is the entry for the ordering agency?
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4610 Allotments – Realized Resources $74,000
4801 Undelivered Orders – Obligations, Unpaid $74,000 |
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The revolving fund accepts a $48,000 order for services from a non-federal entity – advance required and received. Automatic allotment of anticipated resources realized. What is the entry for the performing entity.
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dr 4222 Unfilled Customer Orders with Advance 48,000
cr 4210 Antic Reimbursement & Other Income 48,000 dr 4590 Apportionments Unavail – Anticipated Resrces 48,000 cr 4610 Allotments – Realized Resources 48,000 dr 1010 Fund Balance With Treasury 48,000 cr 2310 Advances from Others 48,000 |
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The revolving fund receives an advance in anticipation of an order for $13,000 from a non-federal source. OMB Circular A-11 (2003) Section 20.11(b).
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no entry, money goes to a deposit fund.
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The revolving fund receives an advance of $20,000 from a federal source in anticipation of an order. (note, this is NOT an actual order)
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no entry, goes to revolving fund clearing account
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The revolving fund receives services (and invoice) for open order for 53,000. The goods are intended for inventory to be used for future sales. The invoice cannot be submitted for payment because the current fund balance of $15,000 is not sufficient to cover the payment.
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dr 4801 Undelivered Orders – Obligations, Unpaid 53,000
cr 4901 Delivered Orders – Obligation, Unpaid 53,000 dr 1521 Inventory Purchased for Resale 53,000 cr 2110 Accounts Payable 53,000 dr 3107 Unexpended Appropriations – Used 15,000 cr 5700 Expended Appropriations 15,000 |
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The performing fund delivers equipment as specified in order and invoices for $63,600, which includes the cost of equipment and overhead. (this is now recognized as an expense, the amount is based on 53,000 currently in a BS inventory account)
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dr 4251 Reimbursements & Other Income Ernd – Rcvbl 63,600
cr 4221 Unfilled Customer Orders w/o Advance 63,600 dr 1310 Accounts Receivable 63,600 cr 5100 Revenue From Goods Sold 63,600 dr 6500 Cost of Goods Sold 53,000 cr 1521 Inventory Purchased for Resale 53,000 |
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Reimbursements & Other Income Ernd – Rcvbl
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4251
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4251
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Reimbursements & Other Income Ernd – Rcvbl
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4221
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Unfilled Customer Orders w/o Advance
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Unfilled Customer Orders w/o Advance
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4221
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Reimbursements and Other Income Earned - Collected
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4252
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4252
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Reimbursements and Other Income Earned - Collected
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Unfilled Customer Orders with Advance
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4222
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4222
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Unfilled Customer Orders with Advance
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