1. List the GL entries for the following items: On January 2,


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1. List the GL entries for the following items: On January 2, 2015, an agency decides to order $2,000 of office supplies.  The agency has made firm orders for specific vendors. The amounts total $2,000.  There are no advances.  When the agency sign the order (but has not yet received the supplies), On February 2, 2015, the agency receives the goods – the goods are considered expenses, and are not considered personal or real property (or inventory).  On February 17, 2015, the vendor receives payment for the goods.  How did the vendor (likely) receive payment?  Who actually paid the vendor, in most cases? 2. Are the following allowable expenses?  Wny or why not? a)      An agency decides to award a vendor $1,000,000 to perform accounting services on a one-year appropriation.  The appropriation is for Fiscal year 2014.  The award is made on October 2, 2014.  The appropriation allows using the funds for accounting services. b)      For a no-year appropriation, could the agency start a new obligation starting on October 24, 2015?  The obligation would be for goods/services that would be a use listed in the appropriation, and would be above the amount remaining on the appropriation. c) An agency has a multi-year appropriation, from Beg. Budget Fiscal Years 2012-Budget Year 2014.  The agency awarded a vendor a contractor on October 1, 2013 for an item listed in the appropriation. The vendor identified an invoice for work performed in November 2013, and requested payment on January 5, 2015.  Is the payment allowable? 3. Give an example of a project?  List defining parts of a contract?  Are projects used to budget money, as well as track costs? IronFox
posted a question · Apr 19, 2015 at 10:01pm

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