The Federal Monuments Commission Began Operations on October 1, 2020

question 53

Essay

The Federal Monuments Commission began operations on October 1, 2020. Prepare journal form all entries that should be made in budgetary and proprietary accounts of the agency. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.)
1. The Congress passed, and the President signed, a one-year appropriation for fiscal year 2021 for the Monuments Commission in the amount of $30,000,000.
2. The OMB notified the agency of the following apportionments of the 2021 appropriation: first quarter, $8,000,000; second quarter, $8,000,000; third quarter, $7,000,000; and fourth quarter, $7,000,000.
3. The Commission Director allotted $1,500,000 for the operations of October 2020.
4. Commitments for goods and services not yet ordered or received were recorded in the amount of $1,300,000.
5. Purchase orders and contracts for services were recorded for the month of October 2020 in the amount of $1,250,000.

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Definitions:

Pleasure

A feeling of happiness or satisfaction derived from a particular activity or experience.

Pain

A physical or emotional sensation caused by illness, injury, or emotional distress.

Experience-Expectant Growth

Experience-expectant growth involves the development of brain structures that depend on common experiences for their growth and which occur at certain normal environmental stimuli.

Brain Maturation

The process by which the brain develops and matures, involving structural and functional changes that enhance cognitive and behavioral capabilities.