Uiwpicnic Table Manual December 31 2015uiw Purchases Two Types Of Pi UIW Picnic Table manual- December 31, 2015 UIW purchases two types of picnic tables. Descriptions and cost information for each type are listed below. Product : Wood Picnic Table: Wooden picnic tables are purchased from XYZ corp at a cost of $150 per table. The table has a wooden top with two attached wooden bench seats. Tables are considered in "good condition" as long as both benches are attached and there is only standard weather related "wear and tear". Metal Picnic Table: Black iron tables and chairs sets are purchased from Outdoor Dining Inc. at a cost of $200/set (table and four chairs). Sets are considered in "good condition" as long as there are no broken pieces and all four chairs are still present. Sets must be written off if the table is in poor condition or missing. (Chairs may be re-allocated to other sets.)
Paper For Above instruction The management of the University of the Incarnate Word (UIW), like many institutions, faces ongoing decisions related to procurement, maintenance, and accounting for their outdoor furniture assets, namely picnic tables and sets. An understanding of their purchasing procedures, condition assessments, and accounting treatments is essential for accurate financial reporting, effective asset management, and strategic planning. This analysis explores the details provided for two distinct types of picnic tables—wooden and metal—highlighting procurement costs, condition criteria, and implications for financial management. The wooden picnic tables are sourced from XYZ Corporation at a unit cost of $150, featuring a wooden top with attached benches. These tables are maintained in the inventory as long as both benches remain attached and they show only weather-related wear and tear. This reflects a typical approach to outdoor furniture, where regular weather exposure causes surface deterioration but does not necessarily warrant immediate disposal unless conditions deteriorate beyond acceptable limits. The second type comprises metal picnic table sets, purchased from Outdoor Dining Inc. at $200 per set, which includes a table and four chairs. The condition assessment relies on the presence of all chairs and the absence of broken parts, with sets considered obsolete and written off if the table is in poor condition or missing. Notably, the chairs are re-allocatable, demonstrating a flexible asset management strategy that maximizes utility and reduces waste.