Homework answers / question archive / Assume the Federal Interstate Commission began the fiscal year with the following account balances: FEDERAL INTERSTATE COlIIIISSION Trial Balance October 1, 2020  Debits Credits Fund Balance with Treasury $ 740,000 Supplies 110,000 Equipment 1,365,000 Accumulated Depreciation $ 485,000 Accounts Payable 131,000 Wages Payable 89,000 Cumulative Results of Operations 1,510,000 $2,215,000 $2,215,000 Congress passed a spending bill providing $16,500,000 to fund the agency's operations for the year

Assume the Federal Interstate Commission began the fiscal year with the following account balances: FEDERAL INTERSTATE COlIIIISSION Trial Balance October 1, 2020  Debits Credits Fund Balance with Treasury $ 740,000 Supplies 110,000 Equipment 1,365,000 Accumulated Depreciation $ 485,000 Accounts Payable 131,000 Wages Payable 89,000 Cumulative Results of Operations 1,510,000 $2,215,000 $2,215,000 Congress passed a spending bill providing $16,500,000 to fund the agency's operations for the year

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Assume the Federal Interstate Commission began the fiscal year with the following account balances:

FEDERAL INTERSTATE COlIIIISSION Trial Balance October 1, 2020 
Debits Credits Fund Balance with Treasury $ 740,000 Supplies 110,000 Equipment 1,365,000 Accumulated Depreciation $ 485,000 Accounts Payable 131,000 Wages Payable 89,000 Cumulative Results of Operations 1,510,000 $2,215,000 $2,215,000

1. Congress passed a spending bill providing $16,500,000 to fund the agency's operations for the year.
2. During the first quarter the commission processed the following items for payment (all items were paid by Treasury in the first quarter).Accounts payable $ 131,000 Wages payable 89,000 Salaries and benefits 500,000 Supplies 510,000 Contracted services 1,500,000 Grants 950,000 Equipment 550,000 Total $4,230,000 

1. Unpaid wages at the end of the quarter totaled $30,000.
2. In addition to the items paid in item 2, the commission received supplies of $17,000 and contracted services of $75,000 that are to be processed for payment in January.
3. Unused supplies on hand totaled $224,000 at December 31.
4. Depreciation for the quarter is $70,000.

I need to learn how to do the journal entries for the following:

1. Congress passed a spending bill providing $16,500,000 to fund the agency's operations for the year.
2. Record the items processed for payment during the first quarter.
3. Unpaid wages at the end of the quarter totaled $30,000.
4. The commission received supplies of $17,000 and contracted services of $75,000 that are to be processed for payment in January.
5. Record the supplies expense for the first quarter. Unused supplies on hand totaled $224,000 at December 31.
6. Depreciation for the quarter is $70,000.