Identify the department responsible for initiating the purchase of materials.

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Answer 1

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Chapter 5, Problem 11P

a.

To determine

Identify the department responsible for initiating the purchase of materials.

b.

To determine

Identity the departments which should receive copies of the purchase order to achieve control. In case, where multiple copies of a purchase order are prepared and assuming one copy goes to the vendor, and one is retained in the purchasing department.

c.

To determine

Identify the documents which the AP clerk reviews before setting up a liability.

d.

To determine

Identify the document which transfers responsibility for goods sold to a common carrier.

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A piece of equipment is purchased for $23,500 and has a salvage value of $3,200. The estimated life is 10 years and the method of depreciation is straight-line. Shipping costs total $750 and installation costs are $630. The book value at the end of year 10 is: a. $3,110 b. $3,200 c. $2,000 d. $1,110

Answer 2

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Chapter 5, Problem 11P

a.

To determine

Identify the department responsible for initiating the purchase of materials.

b.

To determine

Identity the departments which should receive copies of the purchase order to achieve control. In case, where multiple copies of a purchase order are prepared and assuming one copy goes to the vendor, and one is retained in the purchasing department.

c.

To determine

Identify the documents which the AP clerk reviews before setting up a liability.

d.

To determine

Identify the document which transfers responsibility for goods sold to a common carrier.

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Answer 3

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Chapter 5, Problem 11P

a.

To determine

Identify the department responsible for initiating the purchase of materials.

b.

To determine

Identity the departments which should receive copies of the purchase order to achieve control. In case, where multiple copies of a purchase order are prepared and assuming one copy goes to the vendor, and one is retained in the purchasing department.

c.

To determine

Identify the documents which the AP clerk reviews before setting up a liability.

d.

To determine

Identify the document which transfers responsibility for goods sold to a common carrier.

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Answer 4

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100%

Chapter 5, Problem 11P

a.

To determine

Identify the department responsible for initiating the purchase of materials.

b.

To determine

Identity the departments which should receive copies of the purchase order to achieve control. In case, where multiple copies of a purchase order are prepared and assuming one copy goes to the vendor, and one is retained in the purchasing department.

c.

To determine

Identify the documents which the AP clerk reviews before setting up a liability.

d.

To determine

Identify the document which transfers responsibility for goods sold to a common carrier.

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Answer 5

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Answer 6

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Answer 7

Chapter 5, Problem 11P

a.

To determine

Identify the department responsible for initiating the purchase of materials.

b.

To determine

Identity the departments which should receive copies of the purchase order to achieve control. In case, where multiple copies of a purchase order are prepared and assuming one copy goes to the vendor, and one is retained in the purchasing department.

c.

To determine

Identify the documents which the AP clerk reviews before setting up a liability.

d.

To determine

Identify the document which transfers responsibility for goods sold to a common carrier.

Answer 8

Chapter 5, Problem 11P

a.

To determine

Identify the department responsible for initiating the purchase of materials.

Answer 9

Chapter 5, Problem 11P

a.

To determine

Identify the department responsible for initiating the purchase of materials.

Answer 10

b.

To determine

Identity the departments which should receive copies of the purchase order to achieve control. In case, where multiple copies of a purchase order are prepared and assuming one copy goes to the vendor, and one is retained in the purchasing department.

Answer 11

b.

To determine

Identity the departments which should receive copies of the purchase order to achieve control. In case, where multiple copies of a purchase order are prepared and assuming one copy goes to the vendor, and one is retained in the purchasing department.

Answer 12

c.

To determine

Identify the documents which the AP clerk reviews before setting up a liability.

Answer 13

c.

To determine

Identify the documents which the AP clerk reviews before setting up a liability.

Answer 14

d.

To determine

Identify the document which transfers responsibility for goods sold to a common carrier.

Answer 15

d.

To determine

Identify the document which transfers responsibility for goods sold to a common carrier.

Answer 16

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Ch. 5 - Prob. 1RQ Ch. 5 - What purpose does a purchasing department serve?Ch. 5 - Prob. 3RQ Ch. 5 - Prob. 4RQ Ch. 5 - Prob. 5RQ Ch. 5 - Prob. 6RQ Ch. 5 - Prob. 7RQ Ch. 5 - Prob. 8RQ Ch. 5 - Prob. 9RQ Ch. 5 - Some organizations do not use an AP subsidiary...

Identify the department responsible for initiating the purchase of materials.

Solution Summary: The author identifies the department responsible for initiating the purchase of materials, the Purchasing Department, and the Receiving Department.

Identify the department responsible for initiating the purchase of materials.

Identity the departments which should receive copies of the purchase order to achieve control. In case, where multiple copies of a purchase order are prepared and assuming one copy goes to the vendor, and one is retained in the purchasing department.

Identify the documents which the AP clerk reviews before setting up a liability.

Identify the document which transfers responsibility for goods sold to a common carrier.

Chapter 5 Solutions