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Home Q & A Board Other Fields Homework Help Business Accounting
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goji.go goji.go
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Posts: 5977
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9 years ago
Previously purchased materials costing $50,000 were used by a federal agency. The proprietary entry to record this transaction would be

      Debit   Credit
A.   Operating/Program Expenses – Materials
   Inventory for Agency Operations   $50,000   
$50,000
B.   Operating/Program Expenses – Materials
   Appropriations Used   $50,000   
$50,000
C.   Appropriation Realized
   Inventory for Agency Operations   $50,000   
$50,000
D.   Inventory for Agency Operations
   Accounts Payable   $50,000   
$50,000
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Diesel
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f_zah1f_zah1
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9 years ago
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