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Accounting

Prepare the general journal entries required to record each of the following transactions. This assignment may be completed in either Microsoft Word or Excel.

1. The Fair Employment Commission (FEO) received a warrant from the treasury for a $2,000,000 appropriation from Congress for the fiscal year beginning October 1, 20XX (fill in the current year).

2. The EEOC apportioned to the commission $500,000 of its appropriation.

3. The commission head allocated $400,000 to specific purposes.

4. Salaries incurred and paid for the quarter totaled $120,000.

5. Purchase orders for equipment estimated to cost $50,000 were requested.

6. Equipment estimated to cost $33,000 was ordered.

7. The equipment also received along with an invoice for its cost, $32,890.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M91891888

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