It is February 15 and the City of Galaxy's personnel department is preparing a purchase order for a new copier estimated to cost $3,600. The personnel department's administrative assistant checks accounts to verify that an appropriation is available in a sufficient amount to cover the cost of the new copier. Current information indicates the following for the personnel department's Equipment account and Office Supplies account. Required Review the accounts as of February 15, and using the information available answer the following questions, assuming you are the administrative assistant. a. Calculate the Available Appropriation balances in the Equipment account. b. Is the available appropriation balance sufficient to authorize the ordering of the new copier? c. (1) Calculate the Available Appropriation balances in the Office Supplies account. (2) If the Office Supplies account could be used to help purchase the copler, would there be sufficient authorization to order the copier?
It is February 15 and the City of Galaxy's personnel department is preparing a purchase order for a new copier estimated to cost $3,600. The personnel department's administrative assistant checks accounts to verify that an appropriation is available in a sufficient amount to cover the cost of the new copier. Current information indicates the following for the personnel department's Equipment account and Office Supplies account. Required Review the accounts as of February 15, and using the information available answer the following questions, assuming you are the administrative assistant. a. Calculate the Available Appropriation balances in the Equipment account. b. Is the available appropriation balance sufficient to authorize the ordering of the new copier? c. (1) Calculate the Available Appropriation balances in the Office Supplies account. (2) If the Office Supplies account could be used to help purchase the copler, would there be sufficient authorization to order the copier?
Principles of Cost Accounting
17th Edition
ISBN:9781305087408
Author:Edward J. Vanderbeck, Maria R. Mitchell
Publisher:Edward J. Vanderbeck, Maria R. Mitchell
Chapter2: Accounting For Materials
Section: Chapter Questions
Problem 10P
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