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Exam (elaborations)

CMFO EXAM - GRANT FUND JOURNAL ENTRIES QUESTIONS AND CORRECT ANSWERS

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CMFO EXAM - GRANT FUND JOURNAL ENTRIES QUESTIONS AND CORRECT ANSWERS

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CMFO EXAM - GRANT FUND
JOURNAL ENTRIES QUESTIONS AND
CORRECT ANSWERS
ToA2realizeA2grantA2revenueA2inA2currentA2fundA2-A2Ans--Dr.A2DueA2to/fromA2GrantA2Fund
A2Cr.A2RevenueA2-A2AnticipatedA2grantA2revenue
-A2toA2realizeA2grantA2revenueA2inA2currentA2fundA2andA2transferA2toA2grantA2fund

ToA2chargeA2offA2grantA2appropriationA2-A2Ans--Dr.A2AppropriationA2-A2Grant
A2Cr.A2DueA2to/fromA2GrantA2Fund
-A2toA2chargeA2offA2appropriationA2inA2currentA2fundA2andA2transferA2toA2grantA2fund

ToA2setA2upA2grantA2receivableA2-A2Ans--Dr.A2GrantA2receivable
A2Cr.A2DueA2to/fromA2currentA2fund
-A2toA2setupA2receivableA2forA2grantA2transferredA2fromA2currentA2fund

ToA2setA2upA2appropriatedA2reserveA2-A2Ans--Dr.A2DueA2to/fromA2currentA2fund
A2Cr.A2AppropriatedA2reserveA2-A2Grant
-A2toA2setupA2appropriatedA2reserveA2forA2grantA2chargedA2offA2inA2currentA2fund

ToA2recordA2receiptA2ofA2localA2revenueA2-A2Ans--Dr.A2Cash
A2Cr.A2DueA2to/fromA2currentA2fund
-A2toA2recordA2receiptA2ofA2localA2matchA2fromA2currentA2fund

ToA2recordA2receiptA2ofA2grantA2fundsA2-A2Ans--Dr.A2Cash
A2Cr.A2GrantA2receivable
-A2toA2recordA2receiptA2ofA2fundsA2forA2grant

ToA2recordA2grantA2expenditureA2-A2Ans--Dr.A2AppropriatedA2reserveA2-A2grant
A2Cr.A2Cash
-A2toA2recordA2grantA2expenditure

ToA2recordA2cashA2advanceA2-A2Ans--Dr.A2Cash
A2Cr.A2DueA2to/fromA2currentA2fund


ToA2applyA2anA2UN-appropriatedA2reserveA2againstA2aA2grantA2receivableA2-A2Ans--
Dr.A2Un-appropriatedA2reserveA2-A2grant
A2Cr.A2GrantA2receivableA2-A2grant
-
A2toA2applyA2anA2unappropriatedA2reserveA2againstA2aA2grantA2receivableA2AFTERA2anA2u

nappropriatedA2grantA2hasA2beenA2finallyA2budgeted

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