Excersise

FE Work Exercise

The VA Fiduciary Program oversees Veterans funds from being mismanaged by having the fiduciary submit accountings. Your case scenario is that the fiduciary has requested assistance with determining some basic accounting information using the bank statements provided. Room/board costs were paid to Ranson Ridge (nursing home facility cost) and all deposits to this account are from VA.

Based on the information provided, please complete the exercise below. You may utilize any resources below as well as VA.GOV to complete this exercise.

· Accounting Sample Packet

· Bank statements for the accounting period January 10, 2017 to January 9, 2018

· VA benefits payment history screen

· VA 21-4706b

Please add your answers to the sheet below and return this document as instructed.

1. Total Amount of Monies Spent on Room/Board (Nursing Home) __________

2. Total Amount of the Retro Payment Received from VA _________________

3. Identify the Section AND Item on a 21-4706b were the Total Amount of Funds Received from VA should be reflected:

Section _______________ Item __________

4. Assuming the account balance was zero at the beginning of this accounting period and no other funds were received or disbursed in this case, what would be the starting balance for the next accounting year? __________________