Wednesday, July 31, 2019

Physics Ib Chapter 4 Notes

CSimple Harmonic Motion and Waves Kinematics of simple harmonic motion: Oscillation: an effect expressible as a quantity that repeatedly and regularly fluctuates above and below a average value, as the pressure of an alternating current. Examples include: †¢ Cycle: One cycle is defined as one complete oscillation of the pendulum (A-B-A) †¢ Equilibrium Position: the position where the pendulum would be at rest when undisturbed (O) †¢ Amplitude (x0): maximum displacement from equilibrium position (OB or OA) – measured in metres. Time Period (T): the length of time to complete one cycle – measured in seconds †¢ Frequency (f): the number of cycles the pendulum makes per unit time – measured in 1/s or hertz (Hz) †¢ Angular frequency (? or 2? f): used when describing circular motion, or even an oscillation in the case of 2? equivalent to one cycle. Displacement: the distance of an oscillating body from its central position or point of equilibri um at any given moment. Amplitude: the absolute value of the maximum displacement from a zero value during one period of an oscillation.Frequency: the number of periods or regularly occurring events of any given kind in unit of time. This is usually measured in one second. Period: the time taken to complete one cycle of a regularly recurring phenomenon Phase Difference: Simple Harmonic Motion: vibratory motion in a system in which the restoring force is proportional to the displacement from equilibrium. This is expressed by the equation: a = -? ^2x Energy changes during simple harmonic motion (SHM): Kinetic energy = mv^2 /2 and the potential energy at any point = total energy – KE.Because no energy is lost when the total energy is a constant value, the energy when a body is active sees continual changes between kinetic and potential energy. Forced oscillations and resonance: Damping: The effect in which there is a loss of energy due to the friction in real oscillation. Exampl es of damping include: †¢ Light damping, critical damping, etc. Natural frequency of vibration Wave Characteristics: Damping: The effect in which there is a loss of energy due to the friction in real oscillation. Examples of damping include: †¢ Light damping, critical damping, etc.Natural frequency of vibration Wave Properties: Snell's Law relates the angle of incidence to the angle of refraction to the ratio of the velocity of the wave in the different media, which is always equal. It is stated by: sin i = v1 __________________________________________________________________________ sin r = v2 Diffraction takes place when a wave passes through a small opening. If the op Doppler Effect: The Doppler effect is where there is An change in the frequency of sound, light, or other waves as there is a change in the distance between the source and observer.The effect causes the sudden change in pitch noticeable in a passing siren, as well as the redshift seen by astronomers. Elect rical Currents Electrical potential difference, current and resistence: Electrical potential difference (Voltage) is the electric potential difference between two points — or the difference in electric potential unit of a unit test charge transported between two points. The electron volt is a unit of energy equal to approximately 1. 6? 10? 19 joule (J). It is the amount of energy gained by the charge of a single electron moved across an electric potential difference of one volt.Thus it is 1 volt (1 joule per coulomb, 1 J/C) multiplied by the electron charge (1e, or 1. 602176565(35)? 10? 19 C). Electric current is the flow of charge (i. e. the + of batteries is charged as it has higher PE and the current flows to -. The unit of current is the amp (A), a scalar quantity. Resistence is the rate at which charge current flow through a conducter is not much allowed. This normally depends on the conducters size and material. It is measured in ohm (? ). It is related to the cross sec tional area (A), length (L) and the material and the constant of proportionality is called the resistivity (p).Hence R = pL/A Ohm's law states that electric current is proportional to voltage and inversely proportional to resistance in terms of flowing across and through it. If the potential difference across a conductor is V and the current flowing through it is I, then according to Ohm's law: V=IR. Ohmic conductor behaviour is demonstrated when graphing I against V of being a straight line Non-ohmic conductor behaviour is demonstrated when graphing I against V of not being a straight line. i. e. ight bulb filaments Electric circuits: Electromotive force (emf) refers to voltage output generated by a battery or by the magnetic force which states that a time varying magnetic field will induce an electric current. Internal resistence is the resistence of that of all cells that are made from materials that have resistance. If such a cell was connected to a resistor, there is less energ y to be converted to heat in the resistor and the potential difference across it less then the cell's emf. With Oh

Tuesday, July 30, 2019

Purity of Aspirin by Spectrophotometry Essay

The mass of acetylsalicylic acid was determined using a analytical balance. Sodium hydroxide (NaOH) was added to the acetylsalicylic acid and heated in order to hydrolyze acetylsalicylic acid. Iron chloride was added to each volumetric flask as the purity of the aspirin can be tested by addition of Fe+3 to a suspension of the product. Phenols such as salicylic acid react with iron chloride to form coloured (violet) complexes Aspirin easily absorbs green light and green is the compliment of violet, which allows a determination of the amount of aspirin present. The percentage purity of aspirin was found to be 90. 62%. Aspirin tablets (about 5-grams) are usually compounded of about 0. 32 g of acetylsalicylic acid, which indicates that aspirin should be about 94% pure. The calculated value for aspirin content was close to the true value and indicates that aspirin sample tested was very pure. .Introduction Aspirin is a member of a family of chemicals called salicylates. This chemical can be converted (changed) by the body after it is eaten to another chemical, salicylic acid. Salicylic acid may be irritating because it is an acid; therefore one of the acidic parts was covered up with an acetyl group, converting it to acetylsalicylic acid (ASA). ASA not only could reduce fever and relieve pain and swelling, but better for the stomach and worked even better than salicylic acid. Salicylic acid produces a salicylate dianion, when dissolved in water, which reacts with an acidic solution Fe (NO3)3(aq), to produce a strong violet tetraaquosalicylatroiron (III) complex. The violet color of the complex results from the fact that the complex strongly absorbs green light. When this green is removed from normal white light, we observe violet (therefore, green is the compliment of violet). This absorption of green light can be used to quantitatively determine the amount of aspirin present in the solution. The more green light that is absorbed, the more violet the solution, and hence, the more salicylate is present. If green light is directed into a solution that contains this aspirin complex, some of the green light will be absorbed. The intensity of the green light leaving the sample, I, is less than the original intensity of the green light, I0. We can talk about the fraction of light that was transmitted through the sample, transmittance (T); or we can talk about the amount of light that was absorbed by the sample, absorbance (A). Transmittance is inversely proportional to absorbance: the more light that passes through the sample, the higher the transmittance and the lower the absorbance; conversely, the less light that passes through the sample, the lower the transmittance and the higher the absorbance. Several standard solutions of the salicylate complex are prepared. The absorbance of each standard solution is measured at the wavelength of maximum absorption of green light (530 nanometer) using a spectrophotometer. A graph of these absorbance values versus the concentration of each of the standards should yield a straight line. This relationship is known as Beers’ Law: A = a b c A is the absorbance of the solution, a, is the molar absorptivity (a constant for this complex), b is the path length of cuvette (in cm), and c is the molar concentration of the solution being measured. The absorbance of a solution is directly proportional to the concentration of that solution. Therefore, the molar concentration, c, of a solution can be determined by simply measuring the absorbance, A, of that solution. Since we are actually measuring the absorbance of the complex, the stoichiometry of the reaction producing the complex is 1:1. So, if we know the concentration of the complex, we know the concentration of the aspirin. The concentration, the amount of acetylsalicylic acid and purity of aspirin sample will be determined by using Beer’s Law plot. The concentration and absorbance of sodium salicylate will be found, thus being able to find the percentage purity of aspirin.

Cpa Questions

Multiple Choice—CPA Adapted Chapter 14 – Long Term Liabilities 1. On July 1, 2010, Spear Co. issued 1,000 of its 10%, $1,000 bonds at 99 plus accrued interest. The bonds are dated April 1, 2010 and mature on April 1, 2020. Interest is payable semiannually on April 1 and October 1. What amount did Spear receive from the bond issuance? a. $1,015,000 b. $1,000,000 c. $990,000 d. $965,000 2. On January 1, 2010, Solis Co. issued its 10% bonds in the face amount of $3,000,000, which mature on January 1, 2020. The bonds were issued for $3,405,000 to yield 8%, resulting in bond premium of $405,000.Solis uses the effective-interest method of amortizing bond premium. Interest is payable annually on December 31. At December 31, 2010, Solis's adjusted unamortized bond premium should be a. $405,000. b. $377,400. c. $364,500. d. $304,500. 3. On July 1, 2009, Noble, Inc. issued 9% bonds in the face amount of $5,000,000, which mature on July 1, 2015. The bonds were issued for $4,695,00 0 to yield 10%, resulting in a bond discount of $305,000. Noble uses the effective-interest method of amortizing bond discount. Interest is payable annually on June 30. At June 30, 2011, Noble's unamortized bond discount should be a. 264,050. b. $255,000. c. $244,000. d. $215,000. 4. On January 1, 2010, Huff Co. sold $1,000,000 of its 10% bonds for $885,296 to yield 12%. Interest is payable semiannually on January 1 and July 1. What amount should Huff report as interest expense for the six months ended June 30, 2010? a. $44,266 b. $50,000 c. $53,118 d. $60,000 5. On January 1, 2011, Doty Co. redeemed its 15-year bonds of $2,500,000 par value for 102. They were originally issued on January 1, 1999 at 98 with a maturity date of January 1, 2014. The bond issue costs relating to this transaction were $150,000.Doty amortizes discounts, premiums, and bond issue costs using the straight-line method. What amount of loss should Doty recognize on the redemption of these bonds (ignore taxes)? a. $90,000 b. $60,000 c. $50,000 d. $0 6. On its December 31, 2010 balance sheet, Emig Corp. reported bonds payable of $6,000,000 and related unamortized bond issue costs of $320,000. The bonds had been issued at par. On January 2, 2011, Emig retired $3,000,000 of the outstanding bonds at par plus a call premium of $70,000. What amount should Emig report in its 2011 income statement as loss on extinguishment of debt (ignore taxes)? . $0 b. $70,000 c. $160,000 d. $230,000 7. On January 1, 2006, Goll Corp. issued 1,000 of its 10%, $1,000 bonds for $1,040,000. These bonds were to mature on January 1, 2016 but were callable at 101 any time after December 31, 2009. Interest was payable semiannually on July 1 and January 1. On July 1, 2011, Goll called all of the bonds and retired them. Bond premium was amortized on a straight-line basis. Before income taxes, Goll's gain or loss in 2011 on this early extinguishment of debt was a. $30,000 gain. b. $12,000 gain. c. $10,000 loss. d. $8,000 g ain. 8. On June 30, 2011, Omara Co. ad outstanding 8%, $3,000,000 face amount, 15-year bonds maturing on June 30, 2021. Interest is payable on June 30 and December 31. The unamortized balances in the bond discount and deferred bond issue costs accounts on June 30, 2011 were $105,000 and $30,000, respectively. On June 30, 2011, Omara acquired all of these bonds at 94 and retired them. What net carrying amount should be used in computing gain or loss on this early extinguishment of debt? a. $2,970,000. b. $2,895,000. c. $2,865,000. d. $2,820,000. 9. A ten-year bond was issued in 2009 at a discount with a call provision to retire the bonds.When the bond issuer exercised the call provision on an interest date in 2011, the carrying amount of the bond was less than the call price. The amount of bond liability removed from the accounts in 2011 should have equaled the a. call price. b. call price less unamortized discount. c. face amount less unamortized discount. d. face amount plus unamor tized discount. 10. Paige Co. took advantage of market conditions to refund debt. This was the fourth refunding operation carried out by Paige within the last three years. The excess of the carrying amount of the old debt over the amount paid to extinguish it should be reported as a a. ain, net of income taxes. b. loss, net of income taxes. c. part of continuing operations. d. deferred credit to be amortized over the life of the new debt. *11. Eddy Co. is indebted to Cole under a $400,000, 12%, three-year note dated December 31, 2009. Because of Eddy's financial difficulties developing in 2011, Eddy owed accrued interest of $48,000 on the note at December 31, 2011. Under a troubled debt restructuring, on December 31, 2011, Cole agreed to settle the note and accrued interest for a tract of land having a fair value of $360,000. Eddy's acquisition cost of the land is $290,000.Ignoring income taxes, on its 2011 income statement Eddy should report as a result of the troubled debt restruc turing Gain on DisposalRestructuring Gain a. $158,000$0 b. $110,000$0 c. $70,000$40,000 d. $70,000$88,000 Multiple Choice Answers—CPA Adapted Item| Ans. | Item| Ans. | Item| Ans. | Item| Ans. | Item| Ans. | Item| Ans. | 1. | a| 3. | a| 5. | a| 7. | d| 9. | c| *11. | d| 2. | b| 4. | c| 6. | d| 8. | c| 10. | c| | | No. AnswerDerivation 1. a($1,000,000 ? .99) + ($1,000,000 ? .10 ? 3/12) = $1,015,000. 2. b$405,000 – [($3,000,000 ? .10) – ($3,405,000 ? .08)] = $377,400. 3. a2009–2010:$4,695,000 + [($4,695,000 ? 1) – ($5,000,000 ? .09)] = $4,714,500. 2010–2011:$4,714,500 + ($471,450 – $450,000) = $4,735,950 $5,000,000 – $4,735,950 = $264,050. 4. c$885,296 ? .06 = $53,118. 5. a($2,500,000 ? 1. 02) –= $90,000. 6. d($3,000,000 + $70,000) – [($6,000,000 – $320,000) ? 1/2] = $230,000. 7. d – ($1,000,000 ? 1. 01) = $8,000. 8. c$3,000,000 – ($105,000 + $30,000) = $2,865,000. 9. cConceptual. 10. cConceptual . *11. d$360,000 – $290,000 = $70,000 ($400,000 + $48,000) – $360,000 = $88,000. Chapter 15 – Stockholders’ Equity 1. A corporation was organized in January 2007 with authorized capital of $10 par value common stock.On February 1, 2010, shares were issued at par for cash. On March 1, 2010, the corporation's attorney accepted 7,000 shares of common stock in settlement for legal services with a fair value of $90,000. Additional paid-in capital would increase on February 1, 2010March 1, 2010 a. YesNo b. YesYes c. NoNo d. NoYes 2. On July 1, 2010, Nall Co. issued 2,500 shares of its $10 par common stock and 5,000 shares of its $10 par convertible preferred stock for a lump sum of $125,000. At this date Nall's common stock was selling for $24 per share and the convertible preferred stock for $18 per share. The amount of he proceeds allocated to Nall's preferred stock should be a. $62,500. b. $75,000. c. $90,000. d. $68,750. 3. Horton Co. was organized on Janua ry 2, 2010, with 500,000 authorized shares of $10 par value common stock. During 2010, Horton had the following capital transactions: January 5—issued 375,000 shares at $14 per share. July 27—purchased 25,000 shares at $11 per share. November 25—sold 15,000 shares of treasury stock at $13 per share. Horton used the cost method to record the purchase of the treasury shares. What would be the balance in the Paid-in Capital from Treasury Stock account at December 31, 2010? . $0. b. $15,000. c. $30,000. d. $45,000. 4. In 2010, Hobbs Corp. acquired 9,000 shares of its own $1 par value common stock at $18 per share. In 2011, Hobbs issued 4,000 of these shares at $25 per share. Hobbs uses the cost method to account for its treasury stock transactions. What accounts and what amounts should Hobbs credit in 2011 to record the issuance of the 4,000 shares? TreasuryAdditionalRetainedCommon StockPaid-in CapitalEarnings Stock a. $72,000$70,000 b. $72,000$28,000 c. $96,000$4,0 00 d. $68,000$28,000$4,000 5. At its date of incorporation, Sauder, Inc. ssued 100,000 shares of its $10 par common stock at $11 per share. During the current year, Sauder acquired 20,000 shares of its common stock at a price of $16 per share and accounted for them by the cost method. Subsequently, these shares were reissued at a price of $12 per share. There have been no other issuances or acquisitions of its own common stock. What effect does the reissuance of the stock have on the following accounts? Retained EarningsAdditional Paid-in Capital a. DecreaseDecrease b. No effectDecrease c. DecreaseNo effect d. No effectNo effect 6. Farmer Corp. owned 20,000 shares of Eaton Corp. urchased in 2007 for $240,000. On December 15, 2010, Farmer declared a property dividend of all of its Eaton Corp. shares on the basis of one share of Eaton for every 10 shares of Farmer common stock held by its stockholders. The property dividend was distributed on January 15, 2011. On the declaration date, the aggregate market price of the Eaton shares held by Farmer was $400,000. The entry to record the declaration of the dividend would include a debit to Retained Earnings of a. $0. b. $160,000. c. $240,000. d. $400,000. 7. A corporation declared a dividend, a portion of which was liquidating.How would this distribution affect each of the following? Additional Paid-in CapitalRetained Earnings a. DecreaseNo effect b. DecreaseDecrease c. No effectDecrease d. No effectNo effect 8. On May 1, 2010, Ziek Corp. declared and issued a 10% common stock dividend. Prior to this dividend, Ziek had 100,000 shares of $1 par value common stock issued and outstanding. The fair value of Ziek ‘s common stock was $20 per share on May 1, 2010. As a result of this stock dividend, Ziek's total stockholders' equity a. increased by $200,000. b. decreased by $200,000. c. decreased by $10,000. d. did not change. . How would the declaration and subsequent issuance of a 10% stock dividend by the issuer af fect each of the following when the market value of the shares exceeds the par value of the stock? Additional Common StockPaid-in Capital a. No effectNo effect b. No effectIncrease c. IncreaseNo effect d. IncreaseIncrease 10. On December 31, 2010, the stockholders' equity section of Arndt, Inc. , was as follows: Common stock, par value $10; authorized 30,000 shares; issued and outstanding 9,000 shares$ 90,000 Additional paid-in capital116,000 Retained earnings 174,000 Total stockholders' equity$380,000On March 31, 2011, Arndt declared a 10% stock dividend, and accordingly 900 additional shares were issued, when the fair market value of the stock was $18 per share. For the three months ended March 31, 2011, Arndt sustained a net loss of $32,000. The balance of Arndt’s retained earnings as of March 31, 2011, should be a. $125,800. b. $133,000. c. $134,800. d. $142,000. *11. At December 31, 2010 and 2011, Plank Corp. had outstanding 2,000 shares of $100 par value 8% cumulative p referred stock and 10,000 shares of $10 par value common stock. At December 31, 2010, dividends in arrears on the preferred stock were $8,000.Cash dividends declared in 2011 totaled $30,000. What amounts were payable on each class of stock? Preferred StockCommon Stock a. $16,000$14,000 b. $22,000$8,000 c. $24,000$6,000 d. $30,000$0 Multiple Choice Answers—CPA Adapted Item| Ans. | Item| Ans. | Item| Ans. | Item| Ans. | Item| Ans. | Item| Ans. | 1. | d| 3. | c| 5. | c| 7. | b| 9. | d| *11. | c| 2. | b| 4. | b| 6. | d| 8. | d| 10. | a| | | No. AnswerDerivation 1. dConceptual. 2. b($24 2,500) + ($18 5,000) = $150,000. $90,000 ————— ? $125,000 = $75,000. $150,000 3. c15,000 $2 = $30,000. 4. b(4,000 $18) = $72,000; (4,000 $7) = $28,000. . cConceptual. 6. d$400,000 (market value). 7. b Conceptual. 8. dConceptual. 9. dConceptual. 10. a$174,000 – $32,000 – (900 $18) = $125,800. *11. c($200,000 . 08) + $8,000 = $24,000; $30,000 – $24,000 = $6,000 Chapter 16 — Dilutive Securities ; Earnings Per Share 1. On January 2, 2010, Farr Co. issued 10-year convertible bonds at 105. During 2012, these bonds were converted into common stock having an aggregate par value equal to the total face amount of the bonds. At conversion, the market price of Farr’s common stock was 50 percent above its par value.On January 2, 2010, cash proceeds from the issuance of the convertible bonds should be reported as a. paid-in capital for the entire proceeds. b. paid-in capital for the portion of the proceeds attributable to the conversion feature and as a liability for the balance. c. a liability for the face amount of the bonds and paid-in capital for the premium over the face amount. d. a liability for the entire proceeds. 2. Lang Co. issued bonds with detachable common stock warrants. Only the warrants had a known market value. The sum of the fair value of the warrants and the face amount of the bonds exceeds the cash p roceeds.This excess is reported as a. Discount on Bonds Payable. b. Premium on Bonds Payable. c. Common Stock Subscribed. d. Paid-in Capital in Excess of Par—Stock Warrants. 3. On January 1, 2010, Sharp Corp. granted an employee an option to purchase 6,000 shares of Sharp's $5 par value common stock at $20 per share. The Black-Scholes option pricing model determines total compensation expense to be $140,000. The option became exercisable on December 31, 2011, after the employee completed two years of service. The market prices of Sharp's stock were as follows: January 1, 2010$30 December 31, 201150For 2011, should recognize compensation expense under the fair value method of a. $90,000. b. $30,000. c. $70,000. d. $0. *4. On January 2, 2010, for past services, Rosen Corp. granted Nenn Pine, its president, 16,000 stock appreciation rights that are exercisable immediately and expire on January 2, 2011. On exercise, Nenn is entitled to receive cash for the excess of the market pr ice of the stock on the exercise date over the market price on the grant date. Nenn did not exercise any of the rights during 2010. The market price of Rosen's stock was $30 on January 2, 2010, and $45 on December 31, 2010.As a result of the stock appreciation rights, Rosen should recognize compensation expense for 2010 of a. $0. b. $80,000. c. $240,000. d. $480,000. Multiple Choice Answers—Dilutive Securities, CPA Adapted Item| Ans. | Item| Ans. | Item| Ans. | Item| Ans. | 1. | d| 2. | a| 3. | c| *4. | c| No. AnswerDerivation 1. dConceptual. 2. aConceptual. 3. c$140,000 ? 2 = $70,000. *4. c($45 – $30) ? 16,000 = $240,000. Earnings Per Share 5. Didde Co. had 300,000 shares of common stock issued and outstanding at December 31, 2010. No common stock was issued during 2011. On January 1, 2011, Didde issued 200,000 shares of nonconvertible preferred stock.During 2011, Didde declared and paid $100,000 cash dividends on the common stock and $80,000 on the preferred stock. N et income for the year ended December 31, 2011 was $620,000. What should be Didde's 2011 earnings per common share? a. $2. 07 b. $1. 80 c. $1. 73 d. $1. 47 6. At December 31, 2011 and 2010, Miley Corp. had 180,000 shares of common stock and 10,000 shares of 5%, $100 par value cumulative preferred stock outstanding. No dividends were declared on either the preferred or common stock in 2011 or 2010. Net income for 2011 was $400,000. For 2011, earnings per common share amounted to a. $2. 22. b. $1. 94. c. 1. 67. d. $1. 11. 7. Marsh Co. had 2,400,000 shares of common stock outstanding on January 1 and December 31, 2011. In connection with the acquisition of a subsidiary company in June 2010, Marsh is required to issue 100,000 additional shares of its common stock on July 1, 2012, to the former owners of the subsidiary. Marsh paid $200,000 in preferred stock dividends in 2011, and reported net income of $3,400,000 for the year. Marsh's diluted earnings per share for 2011 should be a. $1. 42. b. $1. 36. c. $1. 33. d. $1. 28. 8. Foyle, Inc. , had 560,000 shares of common stock issued and outstanding at December 31, 2010.On July 1, 2011, an additional 40,000 shares of common stock were issued for cash. Foyle also had unexercised stock options to purchase 32,000 shares of common stock at $15 per share outstanding at the beginning and end of 2011. The average market price of Foyle's common stock was $20 during 2011. What is the number of shares that should be used in computing diluted earnings per share for the year ended December 31, 2011? a. 580,000 b. 588,000 c. 608,000 d. 612,000 9. When computing diluted earnings per share, convertible securities are a. ignored. b. recognized only if they are dilutive. c. recognized only if they are antidilutive. . recognized whether they are dilutive or antidilutive. 10. In determining diluted earnings per share, dividends on nonconvertible cumulative preferred stock should be a. disregarded. b. added back to net income whether de clared or not. c. deducted from net income only if declared. d. deducted from net income whether declared or not. 11. The if-converted method of computing earnings per share data assumes conversion of convertible securities as of the a. beginning of the earliest period reported (or at time of issuance, if later). b. beginning of the earliest period reported (regardless of time of issuance). c. iddle of the earliest period reported (regardless of time of issuance). d. ending of the earliest period reported (regardless of time of issuance). Multiple Choice Answers—Earnings Per Share—CPA Adapted Item| Ans. | Item| Ans. | Item| Ans. | Item| Ans. | Item| Ans. | Item| Ans. | Item| Ans. | 5. | b| 6. | b| 7. | d| 8. | b| 9. | b| 10. | d| 11. | a| No. AnswerDerivation 5. b$620,000 – $80,000 ————————— = $1. 80. 300,000 6. b $400,000 – (10,000 ? $100 ? .05) ————— Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€ = $1. 94. 180,000 7. d $3,400,000 – $200,000 ——————————– = $1. 28. 2,400,000 + 100,000 8. b560,000 + (40,000 ? 6/12) + [32,000 – (32,000 ? 15 ? $20)] = 588,000. 9. bConceptual. 10. dConceptual. 11. aConceptual. Chapter 17 – Investments 1. On October 1, 2010, Wenn Co. purchased 600 of the $1,000 face value, 8% bonds of Loy, Inc. , for $702,000, including accrued interest of $12,000. The bonds, which mature on January 1, 2017, pay interest semiannually on January 1 and July 1. Wenn used the straight-line method of amortization and appropriately recorded the bonds as available-for-sale. On Wenn's December 31, 2011 balance sheet, the carrying value of the bonds is a. $690,000. b. $684,000. c. $681,600. d. $672,000. 2. Valet Corp. egan operations in 2010. An analysis of Valet’s equity securities portfolio acquir ed in 2010 shows the following totals at December 31, 2010 for trading and available-for-sale securities: TradingAvailable-for-Sale SecuritiesSecurities Aggregate cost$90,000$110,000 Aggregate fair value65,00095,000 What amount should Valet report in its 2010 income statement for unrealized holding loss? a. $40,000. b. $10,000. c. $15,000. d. $25,000. 3. At December 31, 2010, Jeter Corp. had the following equity securities that were purchased during 2010, its first year of operation: FairUnrealized Cost ValueGain (Loss)Trading Securities: SecurityA$ 90,000$ 60,000$(30,000) B 15,000 20,000 5,000 Totals$105,000$ 80,000$(25,000) Available-for-Sale Securities: SecurityY$ 70,000$ 80,000$ 10,000 Z 85,000 55,000 (30,000) Totals$155,000$135,000$(20,000) All market declines are considered temporary. Fair value adjustments at December 31, 2010 should be established with a corresponding charge against IncomeStockholders’ Equity a. $45,000$ 0 b. $30,000$30,000 c. $25,000$20,000 d. $25,00 0$ 0 4. On December 29, 2011, James Co. sold an equity security that had been purchased on January 4, 2010.James owned no other equity securities. An unrealized holding loss was reported in the 2010 income statement. A realized gain was reported in the 2011 income statement. Was the equity security classified as available-for-sale and did its 2010 market price decline exceed its 2011 market price recovery? 2010 Market Price Decline Exceeded 2011 Available-for-SaleMarket Price Recovery a. YesYes b. YesNo c. NoYes d. NoNo Use the following information for questions 5 through 7. Rich, Inc. acquired 30% of Doane Corp. ‘s voting stock on January 1, 2010 for $400,000. During 2010, Doane earned $160,000 and paid dividends of $100,000.Rich's 30% interest in Doane gives Rich the ability to exercise significant influence over Doane's operating and financial policies. During 2011, Doane earned $200,000 and paid dividends of $60,000 on April 1 and $60,000 on October 1. On July 1, 2011, Ri ch sold half of its stock in Doane for $264,000 cash. 5. Before income taxes, what amount should Rich include in its 2010 income statement as a result of the investment? a. $160,000. b. $100,000. c. $48,000. d. $30,000. 6. The carrying amount of this investment in Rich's December 31, 2010 balance sheet should be a. $400,000. b. $418,000. c. $448,000. d. $460,000. . What should be the gain on sale of this investment in Rich's 2011 income statement? a. $64,000. b. $55,000. c. $49,000. d. $40,000. 8. On January 1, 2010, Reston Co. purchased 25% of Ace Corp. ‘s common stock; no goodwill resulted from the purchase. Reston appropriately carries this investment at equity and the balance in Reston’s investment account was $720,000 at December 31, 2010. Ace reported net income of $450,000 for the year ended December 31, 2010, and paid common stock dividends totaling $180,000 during 2010. How much did Reston pay for its 25% interest in Ace? a. $652,500. b. $765,000. c. $787,500. d. 877,500. 9. On December 31, 2010, Patel Co. purchased equity securities as trading securities. Pertinent data are as follows: Fair Value Security CostAt 12/31/11 A$132,000$117,000 B168,000186,000 C288,000258,000 On December 31, 2011, Patel transferred its investment in security C from trading to available-for-sale because Patel intends to retain security C as a long-term investment. What total amount of gain or loss on its securities should be included in Patel's income statement for the year ended December 31, 2011? a. $3,000 gain. b. $27,000 loss. c. $30,000 loss. d. $45,000 loss. Multiple Choice Answers—CPA AdaptedItem| Ans. | Item| Ans. | Item| Ans. | Item| Ans. | Item| Ans. | 1. | d| 3. | c| 5. | c| 7. | c| 9. | b| 2. | d| 4. | d| 6. | b| 8. | a| | | No. AnswerDerivation 1. d$702,000 – $12,000 = $690,000 15 $690,000 – ($90,000 ? — ) = $672,000. 75 2. d$90,000 – $65,000 = $25,000. 3. c 4. dConceptual. 5. c$160,000 ? 30% = $48,000. 6. b$400,0 00 + $48,000 – ($100,000 ? 30%) = $418,000. 7. c$418,000 – ($60,000 ? 30%) + ($200,000 ? 50% ? 30%) = $430,000. $264,000 – ($430,000 ? 2) = $49,000. 8. a$720,000 – ($450,000 ? 25%) + ($180,000 ? 25%) = $652,500. 9. b$18,000 – $15,000 – $30,000 = $27,000 loss. Chapter 18 – Revenue Recognition . According to the FASB's conceptual framework, the process of reporting an item in the financial statements of an entity is a. recognition. b. realization. c. allocation. d. matching. 2. Green Construction Co. has consistently used the percentage-of-completion method of recognizing revenue. During 2010, Green entered into a fixed-price contract to construct an office building for $12,000,000. Information relating to the contract is as follows: At December 31 2010 2011 Percentage of completion15%45% Estimated total cost at completion$9,000,000$9,600,000 Gross profit recognized (cumulative)600,0001,440,000Contract costs incurred during 2011 were: a . $2,880,000. b. $2,970,000. c. $3,150,000. d. $4,320,000. 3. Bruner Constructors, Inc. has consistently used the percentage-of-completion method of recognizing income. In 2010, Bruner started work on a $35,000,000 construction contract that was completed in 2011. The following information was taken from Bruner's 2010 accounting records: Progress billings$11,000,000 Costs incurred10,500,000 Collections7,000,000 Estimated costs to complete21,000,000 What amount of gross profit should Bruner have recognized in 2010 on this contract? a. $3,500,000 b. 2,333,334 c. $1,750,000 d. $1,166,667 4. During 2010, Gates Corp. started a construction job with a total contract price of $3,500,000. The job was completed on December 15, 2011. Additional data are as follows: 2010 2011 Actual costs incurred$1,350,000$1,525,000 Estimated remaining costs1,350,000— Billed to customer1,200,0002,300,000 Received from customer1,000,0002,400,000 Under the completed-contract method, what amount should Ga tes recognize as gross profit for 2011? a. $225,000 b. $312,500 c. $475,000 d. $625,000 5. Hogan Farms produced 800,000 pounds of cotton during the 2010 season.Hogan sells all of its cotton to Ott Co. , which has agreed to purchase Hogan's entire production at the prevailing market price. Recent legislation assures that the market price will not fall below $. 70 per pound during the next two years. Hogan's costs of selling and distributing the cotton are immaterial and can be reasonably estimated. Hogan reports its inventory at expected exit value. During 2010, Hogan sold and delivered to Ott 600,000 pounds at the market price of $. 70. Hogan sold the remaining 200,000 pounds during 2011 at the market price of $. 72. What amount of revenue should Hogan recognize in 2010? . $420,000 b. $432,000 c. $560,000 d. $576,000 6. Braun, Inc. appropriately uses the installment-sales method of accounting to recognize income in its financial statements. Some pertinent data relating to this metho d of accounting include: 2010 2011 Installment sales$750,000$720,000 Cost of installment sales 570,000 504,000 Gross profit$180,000$216,000 Rate of gross profit24%30% Balance of deferred gross profit at year end: 2010$108,000$ 36,000 2011 198,000 Total$108,000$234,000 What amount of installment accounts receivable should be presented in Braun's December 31, 2011 balance sheet? a. 720,000 b. $810,000 c. $780,000 d. $866,666 7. Hartz Co. , which began operations on January 1, 2010, appropriately uses the installment-sales method of accounting. The following information pertains to Hartz's operations for the year 2010: Installment sales$1,200,000 Regular sales480,000 Cost of installment sales720,000 Cost of regular sales288,000 General and administrative expenses96,000 Collections on installment sales288,000 The deferred gross profit account in Hartz's December 31, 2010 balance sheet should be a. $115,200. b. $192,000. c. $364,800. d. $480,000. 8. On January 1, 2010, Orton Co. old a us ed machine to King, Inc. for $350,000. On this date, the machine had a depreciated cost of $245,000. King paid $50,000 cash on January 1, 2010 and signed a $300,000 note bearing interest at 10%. The note was payable in three annual installments of $100,000 beginning January 1, 2011. Orton appropriately accounted for the sale under the installment method. King made a timely payment of the first installment on January 1, 2011 of $130,000, which included interest of $30,000 to date of payment. At December 31, 2011, Orton has deferred gross profit of a. $70,000. b. $66,000. c. $60,000. d. 51,000. 9. Piper Co. began operations on January 1, 2010 and appropriately uses the installment method of accounting. The following information pertains to Piper's operations for 2010: Installment sales1,800,000 Cost of installment sales1,080,000 General and administrative expenses180,000 Collections on installment sales825,000 The balance in the deferred gross profit account at December 31, 2010 shoul d be a. $330,000. b. $495,000. c. $390,000. d. $720,000. 10. Moon Co. records all sales using the installment method of accounting. Installment sales contracts call for 36 equal monthly cash payments.According to the FASB's conceptual framework, the amount of deferred gross profit relating to collections 12 months beyond the balance sheet date should be reported in the a. current liabilities section as a deferred revenue. b. noncurrent liabilities section as a deferred revenue. c. current assets section as a contra account. d. noncurrent assets section as a contra account. 11. Crane, Inc. is a retailer of home appliances and offers a service contract on each appliance sold. Crane sells appliances on installment contracts, but all service contracts must be paid in full at the time of sale.Collections received for service contracts should be recorded as an increase in a a. deferred revenue account. b. sales contracts receivable valuation account. c. stockholders' valuation account. d. service revenue account. Multiple Choice Answers—CPA Adapted Item| Ans. | Item| Ans. | Item| Ans. | Item| Ans. | Item| Ans. | Item| Ans. | 1. | a| 3. | d| 5. | c| 7. | c| 9. | c| 11. | a| 2. | b| 4. | d| 6. | b| 8. | c| 10. | c| | | No. AnswerDerivation 1. aConceptual. 2. b($9,600,000 45%) – ($9,000,000 15%) = $2,970,000. $10,500,000 3. d—————— ($35,000,000 – $31,500,000) = $1,166,667. $31,500,000 . d$3,500,000 – $1,350,000 – $1,525,000 = $625,000. 5. c800,000 lbs. $. 70 = $560,000. 6. b($36,000 ? 24%) + ($198,000 ? 30%) = $810,000. 7. c$1,200,000 – $720,000 = $480,000 gross profit (40% gross profit rate) $480,000 – ($288,000 . 4) = $364,800. 8. c$300,000 + $50,000 = $350,000 $350,000 – $245,000 = $105,000 gross profit (30% gross profit rate) ($300,000 – $100,000) ? 30% = $60,000. 9. c$1,800,000 – $1,080,000 = $720,000 (40% gross profit rate)$720,000 – ($825,00 0 40%) = $390,000. 10. cConceptual. 11. aConceptual. Chapter 20 Accounting for Pensions ; Post Retirement Benefits 1.The following information pertains to Hopson Co. ‘s pension plan: Actuarial estimate of projected benefit obligation at 1/1/11$72,000 Assumed discount rate10% Service costs for 2011$18,000 Pension benefits paid during 2011$15,000 If no change in actuarial estimates occurred during 2011, Hopson's projected benefit obligation at December 31, 2011 was a. $64,200. b. $75,000. c. $79,200. d. $82,200. 2. Interest cost included in pension expense recognized for a period by an employer sponsoring a defined-benefit pension plan represents the a. shortage between the expected and actual returns on plan assets. b. ncrease in the projected benefit obligation due to the passage of time. c. increase in the fair value of plan assets due to the passage of time. d. amortization of the discount on accumulated OCI (PSC). 3. Logan Corp. , a company whose stock is publicly traded, provides a noncontributory defined-benefit pension plan for its employees. The company's actuary has provided the following information for the year ended December 31, 2011: Projected benefit obligation$600,000 Accumulated benefit obligation525,000 Fair value of plan assets825,000 Service cost240,000 Interest on projected benefit obligation24,000Amortization of prior service cost60,000 Expected and actual return on plan assets82,500 The market-related asset value equals the fair value of plan assets. No contributions have been made for 2011 pension cost. In its December 31, 2011 balance sheet, Logan should report a pension asset / liability of a. Pension liability of $600,000 b. Pension asset of $824,000 c. Pension asset of $225,000 d. Pension liability of $525,000 4. Seigel Co. maintains a defined-benefit pension plan for its employees. At each balance sheet date, Yeager should report a pension asset / liability equal to the a. ccumulated benefit obligation. b. projected benefit ob ligation. c. accumulated benefit obligation. d. funded status relative to the projected benefit obligation. 5. Ohlman, Inc. maintains a defined-benefit pension plan for its employees. As of December 31, 2011, the market value of the plan assets is less than the accumulated benefit obligation. The projected benefit obligation exceeds the accumulated benefit obligation. In its balance sheet as of December 31, 2011, Ohlman should report a liability in the amount of the a. excess of the projected benefit obligation over the fair value of the plan assets. b. xcess of the accumulated benefit obligation over the fair value of the plan assets. c. projected benefit obligation. d. accumulated benefit obligation. 6. At December 31, 2011, the following information was provided by the Vargas Corp. pension plan administrator: Fair value of plan assets$4,500,000 Accumulated benefit obligation5,580,000 Projected benefit obligation7,200,000 What is the amount of the pension liability that should be shown on Vargas' December 31, 2011 balance sheet? a. $7,200,000 b. $2,700,000 c. $1,620,000 d. $1,080,000 Multiple Choice Answers—CPA Adapted Item| Ans. | Item| Ans. | Item| Ans. | 1. d| 3. | c| 5. | a| 2. | b| 4. | d| 6. | b| No. AnswerDerivation 1. d$72,000 + $18,000 + ($72,000 ? .10) – $15,000 = $82,200. 2. bConceptual. 3. c$825,000 – $600,000 = $225,000. 4. dConceptual. 5. aConceptual. 6. b$7,200,000 – $4,500,000 = $2,700,000. Chapter 21 –Accounting for Leases 1. Lease A does not contain a bargain purchase option, but the lease term is equal to 90 percent of the estimated economic life of the leased property. Lease B does not transfer ownership of the property to the lessee by the end of the lease term, but the lease term is equal to 75 percent of the estimated economic life of the leased property.How should the lessee classify these leases? Lease A Lease B a. Operating leaseCapital lease b. Operating leaseOperating lease c. Capital leaseCapita l lease d. Capital leaseOperating lease 2. On December 31, 2011, Burton, Inc. leased machinery with a fair value of $840,000 from Cey Rentals Co. The agreement is a six-year noncancelable lease requiring annual payments of $160,000 beginning December 31, 2011. The lease is appropriately accounted for by Burton as a capital lease. Burton's incremental borrowing rate is 11%. Burton knows the interest rate implicit in the lease payments is 10%.The present value of an annuity due of 1 for 6 years at 10% is 4. 7908. The present value of an annuity due of 1 for 6 years at 11% is 4. 6959. In its December 31, 2011 balance sheet, Burton should report a lease liability of a. $606,528. b. $680,000. c. $751,344. d. $766,528. 3. On December 31, 2010, Harris Co. leased a machine from Catt, Inc. for a five-year period. Equal annual payments under the lease are $630,000 (including $30,000 annual executory costs) and are due on December 31 of each year. The first payment was made on December 31, 201 0, and the second payment was made on December 31, 2011.The five lease payments are discounted at 10% over the lease term. The present value of minimum lease payments at the inception of the lease and before the first annual payment was $2,502,000. The lease is appropriately accounted for as a capital lease by Harris. In its December 31, 2011 balance sheet, Harris should report a lease liability of a. $1,902,000. b. $1,872,000. c. $1,711,800. d. $1,492,200. 4. A lessee had a ten-year capital lease requiring equal annual payments. The reduction of the lease liability in year 2 should equal a. the current liability shown for the lease at the end of year 1. . the current liability shown for the lease at the end of year 2. c. the reduction of the lease liability in year 1. d. one-tenth of the original lease liability. Use the following information for questions 5 and 6. On January 2, 2011, Hernandez, Inc. signed a ten-year noncancelable lease for a heavy duty drill press. The lease stip ulated annual payments of $150,000 starting at the end of the first year, with title passing to Hernandez at the expiration of the lease. Hernandez treated this transaction as a capital lease. The drill press has an estimated useful life of 15 years, with no salvage value.Hernandez uses straight-line depreciation for all of its plant assets. Aggregate lease payments were determined to have a present value of $900,000, based on implicit interest of 10%. 5. In its 2011 income statement, what amount of interest expense should Hernandez report from this lease transaction? a. $0 b. $56,250 c. $75,000 d. $90,000 6. In its 2011 income statement, what amount of depreciation expense should Hernandez report from this lease transaction? a. $150,000 b. $100,000 c. $90,000 d. $60,000 7. In a lease that is recorded as a sales-type lease by the lessor, interest revenue a. hould be recognized in full as revenue at the lease's inception. b. should be recognized over the period of the lease using the straight-line method. c. should be recognized over the period of the lease using the effective interest method. d. does not arise. 8. Torrey Co. manufactures equipment that is sold or leased. On December 31, 2011, Torrey leased equipment to Dalton for a five-year period ending December 31, 2016, at which date ownership of the leased asset will be transferred to Dalton. Equal payments under the lease are $220,000 (including $20,000 executory costs) and are due on December 31 of each year.The first payment was made on December 31, 2011. Collectibility of the remaining lease payments is reasonably assured, and Torrey has no material cost uncertainties. The normal sales price of the equipment is $770,000, and cost is $600,000. For the year ended December 31, 2011, what amount of income should Torrey realize from the lease transaction? a. $170,000 b. $220,000 c. $230,000 d. $330,000 *9. Jamar Co. sold its headquarters building at a gain, and simultaneously leased back the building. The lease was reported as a capital lease. At the time of the sale, the gain should be reported as a. perating income. b. an extraordinary item, net of income tax. c. a separate component of stockholders' equity. d. a deferred gain. *10. On December 31, 2011, Haden Corp. sold a machine to Ryan and simultaneously leased it back for one year. Pertinent information at this date follows: Sales price$900,000 Carrying amount825,000 Present value of reasonable lease rentals ($7,500 for 12 months @ 12%)85,000 Estimated remaining useful life12 years In Haden’s December 31, 2011 balance sheet, the deferred profit from the sale of this machine should be a. $85,000. b. $75,000. c. $10,000. . $0. Multiple Choice Answers—CPA Adapted Item| Ans. | Item| Ans. | Item| Ans. | Item| Ans. | Item| Ans. | 1. | c| 3. | d| 5. | d| 7. | c| *9. | d| 2. | a| 4. | a| 6. | d| 8. | a| *10| d| No. AnswerDerivation 1. cConceptual. 2. a($160,000 ? 4. 7908) – $160,000 = $606,528. 3. d$2,502,000 †“ $630,000 + $30,000 = $1,902,000 (2010). $1,902,000 – [$600,000 – ($1,902,000 ? .10)] = $1,492,200 (2011). 4. aConceptual. 5. d$900,000 ? .10 = $90,000. 6. d$900,000 ? 15 = $60,000. 7. cConceptual. 8. a$770,000 – $600,000 = $170,000. *9. dConceptual. *10. d = 9. 44%, < 10% of FV of asset ? t is a minor leaseback. Chapter 22-Accounting Changes and Error Analysis 1. Which of the following should be reported as a prior period adjustment? Change inChange from Estimated LivesUnaccepted Principle of Depreciable Assetsto Accepted Principle a. YesYes b. NoYes c. YesNo d. NoNo 2. On December 31, 2011, Grantham, Inc. appropriately changed its inventory valuation method to FIFO cost from weighted-average cost for financial statement and income tax purposes. The change will result in a $1,500,000 increase in the beginning inventory at January 1, 2011. Assume a 30% income tax rate.The cumulative effect of this accounting change on beginning retained earnings is a. $0. b. $450,000. c. $1,050,000. d. $1,500,000. 3. On January 1, 2011, Frost Corp. changed its inventory method to FIFO from LIFO for both financial and income tax reporting purposes. The change resulted in an $800,000 increase in the January 1, 2011 inventory. Assume that the income tax rate for all years is 30%. The cumulative effect of the accounting change should be reported by Frost in its 2011 a. retained earnings statement as a $560,000 addition to the beginning balance. b. ncome statement as a $560,000 cumulative effect of accounting change. c. retained earnings statement as an $800,000 addition to the beginning balance. d. income statement as an $800,000 cumulative effect of accounting change. 4. On January 1, 2008, Lake Co. purchased a machine for $792,000 and depreciated it by the straight-line method using an estimated useful life of eight years with no salvage value. On January 1, 2011, Lake determined that the machine had a useful life of six years from the date of acquisition and will have a salvage value of $72,000. An accounting change was made in 2011 to reflect these additional data.The accumulated depreciation for this machine should have a balance at December 31, 2011 of a. $438,000. b. $462,000. c. $480,000. d. $528,000. 5. On January 1, 2008, Hess Co. purchased a patent for $595,000. The patent is being amortized over its remaining legal life of 15 years expiring on January 1, 2023. During 2011, Hess determined that the economic benefits of the patent would not last longer than ten years from the date of acquisition. What amount should be reported in the balance sheet for the patent, net of accumulated amortization, at December 31, 2011? a. $357,000 b. $408,000 c. $420,000 . $436,375 6. During 2010, a textbook written by Mercer Co. personnel was sold to Roark Publishing, Inc. , for royalties of 10% on sales. Royalties are receivable semiannually on March 31, for sales in July through December of the prior year, and on September 30, for sales in January through June of the same year. * Royalty income of $108,000 was accrued at 12/31/10 for the period July-December 2010. * Royalty income of $120,000 was received on 3/31/11, and $156,000 on 9/30/11. * Mercer learned from Roark that sales subject to royalty were estimated at $1,620,000 for the last half of 2011.In its income statement for 2011, Mercer should report royalty income at a. $276,000. b. $288,000. c. $318,000. d. $330,000. 7. On January 1, 2010, Janik Corp. acquired a machine at a cost of $500,000. It is to be depreciated on the straight-line method over a five-year period with no residual value. Because of a bookkeeping error, no depreciation was recognized in Janik's 2010 financial statements. The oversight was discovered during the preparation of Janik's 2011 financial statements. Depreciation expense on this machine for 2011 should be a. $0. b. $100,000. c. $125,000. d. $200,000. 8.On December 31, 2011, special insurance costs, incurred but unpaid, were not reco rded. If these insurance costs were related to work in process, what is the effect of the omission on accrued liabilities and retained earnings in the December 31, 2011 balance sheet? Accrued LiabilitiesRetained Earnings a. No effectNo effect b. No effectOverstated c. UnderstatedNo effect d. UnderstatedOverstated 9. Black, Inc. is a calendar-year corporation whose financial statements for 2010 and 2011 included errors as follows: YearEnding InventoryDepreciation Expense 2010$162,000overstated$135,000overstated 201154,000understated45,000understatedAssume that purchases were recorded correctly and that no correcting entries were made at December 31, 2010, or at December 31, 2011. Ignoring income taxes, by how much should Black's retained earnings be retroactively adjusted at January 1, 2012? a. $144,000 increase b. $36,000 increase c. $18,000 decrease d. $9,000 increase Multiple Choice Answers—CPA Adapted Item| Ans. | Item| Ans. | Item| Ans. | Item| Ans. | Item| Ans. | 1. | b| 3. | a| 5. | b| 7. | b| 9. | a| 2. | c| 4. | a| 6. | d| 8. | c| | | No. AnswerDerivation 1. bConceptual. 2. c$1,500,000 ? (1 – . 3) = $1,050,000. 3. a$800,000 ? (1 – . ) = $560,000. 4. a$792,000 ? 3/8 = $297,000 $297,000 + [($792,000 – $297,000 – $72,000) ? 1/3] = $438,000. 5. b$595,000 ? 3/15 = $119,000 $595,000 – $119,000 – [($595,000 – $119,000) ? 1/7] = $408,000. 6. d($120,000 – $108,000) + $156,000 + ($1,620,000 ? .10) = $330,000. 7. b$500,000 ? 5 = $100,000. 8. cConceptual. 9. a$54,000 (u) + $135,000 (u) – $45,000 (o) = $144,000 (u). Chapter 23- Statement of Cash Flows Use the following information for questions 1 and 2. A company acquired a building, paying a portion of the purchase price in cash and issuing a mortgage note payable to the seller for the balance. . In a statement of cash flows, what amount is included in investing activities for the above transaction? a. Cash payment b. Acquisition price c. Zero d . Mortgage amount 2. In a statement of cash flows, what amount is included in financing activities for the above transaction? a. Cash payment b. Acquisition price c. Zero d. Mortgage amount Use the following information for questions 3 and 4. Smiley Corp. ‘s transactions for the year ended December 31, 2011 included the following: * Purchased real estate for $550,000 cash which was borrowed from a bank. Sold available-for-sale securities for $500,000. * Paid dividends of $600,000. * Issued 500 shares of common stock for $250,000. * Purchased machinery and equipment for $125,000 cash. * Paid $450,000 toward a bank loan. * Reduced accounts receivable by $100,000. * Increased accounts payable $200,000. 3. Smiley's net cash used in investing activities for 2011 was a. $675,000. b. $375,000. c. $175,000. d. $50,000. 4. Smiley's net cash used in financing activities for 2011 was a. $50,000. b. $250,000. c. $450,000. d. $500,000. Use the following information for questions 5 and 6. P eavy Corp. s transactions for the year ended December 31, 2011 included the following: 0 Acquired 50% of Gant Corp. ‘s common stock for $180,000 cash which was borrowed from a bank. 1 Issued 5,000 shares of its preferred stock for land having a fair value of $320,000. 2 Issued 500 of its 11% debenture bonds, due 2016, for $392,000 cash. 3 Purchased a patent for $220,000 cash. 4 Paid $120,000 toward a bank loan. 5 Sold available-for-sale securities for $796,000. 6 Had a net increase in returnable customer deposits (long-term) of $88,000. 5. Peavy’s net cash provided by investing activities for 2011 was a. $296,000. b. 396,000. c. $476,000. d. $616,000. 6. Peavy’s net cash provided by financing activities for 2011 was a. $452,000. b. $540,000. c. $572,000. d. $660,000. Use the following information for questions 7 through 9. Jamison Corp. ‘s balance sheet accounts as of December 31, 2011 and 2010 and information relating to 2011 activities are presented below . December 31, 2011 2010 Assets Cash$ 440,000$ 200,000 Short-term investments600,000— Accounts receivable (net)1,020,0001,020,000 Inventory1,380,0001,200,000 Long-term investments400,000600,000 Plant assets3,400,0002,000,000 Accumulated depreciation(900,000)(900,000)Patent 180,000 200,000 Total assets$6,520,000$4,320,000 Liabilities and Stockholders' Equity Accounts payable and accrued liabilities$1,660,000$1,440,000 Notes payable (nontrade)580,000— Common stock, $10 par1,600,0001,400,000 Additional paid-in capital800,000500,000 Retained earnings 1,880,000 980,000 Total liabilities and stockholders' equity$6,520,000$4,320,000 Information relating to 2011 activities: 7 Net income for 2011 was $1,500,000. 8 Cash dividends of $600,000 were declared and paid in 2011. 9 Equipment costing $1,000,000 and having a carrying amount of $320,000 was sold in 2011 for $360,000. 0 A long-term investment was sold in 2011 for $320,000. There were no other transactions affecting long-te rm investments in 2011. 11 20,000 shares of common stock were issued in 2011 for $25 a share. 12 Short-term investments consist of treasury bills maturing on 6/30/12. 7. Net cash provided by Jamison’s 2011 operating activities was a. $1,500,000. b. $2,120,000. c. $2,080,000. d. $2,160,000. 8. Net cash used in Jamison’s 2011 investing activities was a. $2,320,000. b. $1,820,000. c. $1,680,000. d. $1,720,000. 9. Net cash provided by Jamison’s 2011 financing activities was a. 480,000. b. $520,000. c. $1,080,000. d. $1,680,000. 10. Foxx Corp. ‘s comparative balance sheet at December 31, 2011 and 2010 reported accumulated depreciation balances of $800,000 and $600,000, respectively. Property with a cost of $50,000 and a carrying amount of $38,000 was the only property sold in 2011. Depreciation charged to operations in 2011 was a. $188,000. b. $200,000. c. $212,000. d. $224,000. 11. Nagel Co. ‘s prepaid insurance was $90,000 at December 31, 2011 and $45,0 00 at December 31, 2010. Insurance expense was $36,000 for 2011 and $27,000 for 2010.What amount of cash disbursements for insurance would be reported in Nagel's 2011 net cash provided by operating activities presented on a direct basis? a. $99,000. b. $81,000. c. $54,000. d. $36,000. Multiple Choice Answers—CPA Adapted Item| Ans. | Item| Ans. | Item| Ans. | Item| Ans. | Item| Ans. | Item| Ans. | 1. | a| 3. | c| 5. | b| 7. | c| 9. | a| 11. | b| 2. | c| 4. | b| 6. | b| 8. | a| 10. | c| | | No. AnswerDerivation 1. aConceptual. 2. cConceptual. 3. c($550,000) + $500,000 – $125,000 = ($175,000). 4. b$550,000 – $600,000 + $250,000 – $450,000 = ($250,000). 5. b($180,000) – $220,000 + $796,000 = $396,000. 6. $180,000 + $392,000 – $120,000 + $88,000 = $540,000. 7. c$1,500,000 – $180,000 + ($900,000 – $900,000 + $680,000) – ($360,000 – $320,000) + $20,000 + $220,000 – ($320,000 – $200,000) = $2,080,000. 8. a$3 20,000 + $360,000 – ($3,400,000 + $1,000,000 – $2,000,000) – $600,000 = $2,320,000. 9. a20,000 ? $25 = $500,000 $500,000 + $580,000 – $600,000 = $480,000. 10. c$800,000 – $600,000 + ($50,000 – $38,000) = $212,000. 11. b$90,000 + $36,000 – $45,000 = $81,000. Chapter 24- Full Disclosure in Financial Reporting 1. Which of the following facts concerning plant assets should be included in the summary of significant accounting policies?Depreciation MethodComposition a. NoYes b. YesYes c. YesNo d. NoNo 2. Farr, Inc. is a multidivisional corporation which has both intersegment sales and sales to unaffiliated customers. Farr should report segment financial information for each division meeting which of the following criteria? a. Segment profit or loss is 10% or more of consolidated profit or loss. b. Segment profit or loss is 10% or more of combined profit or loss of all company segments. c. Segment revenue is 10% or more of combined revenue o f all the company segments. d. Segment revenue is 10% or more of consolidated revenue. 3. Unruh Corp. nd its divisions are engaged solely in manufacturing operations. The following data (consistent with prior years' data) pertain to the industries in which operations were conducted for the year ended December 31, 2011. Assets Industry Revenue Profit 12/31/11 A$ 8,000,000$1,320,000$16,000,000 B6,400,0001,120,00014,000,000 C4,800,000960,00010,000,000 D2,400,000440,0005,200,000 E3,400,000540,0005,600,000 F 1,200,000 180,000 2,400,000 $26,200,000$4,560,000$53,200,000 In its segment information for 2011, how many reportable segments does Unruh have? a. Three b. Four c. Five d. Six 4.The following information pertains to Nixon Corp. and its divisions for the year ended December 31, 2011. Sales to unaffiliated customers$2,500,000 Intersegment sales of products similar to those sold to unaffiliated customers750,000 Interest earned on loans to other operating segments50,000 Nixon and all of its divisions are engaged solely in manufacturing operations. Nixon has a reportable segment if that segment's revenue exceeds a. $330,000. b. $325,000. c. $255,000. d. $250,000. 5. Advertising costs may be accrued or deferred to provide an appropriate expense in each period for InterimYear-end Financial ReportingFinancial Reporting . YesNo b. YesYes c. NoNo d. NoYes 6. Mayo Corp. has estimated that total depreciation expense for the year ending December 31, 2011 will amount to $300,000, and that 2011 year-end bonuses to employees will total $600,000. In Mayo's interim income statement for the six months ended June 30, 2011, what is the total amount of expense relating to these two items that should be reported? a. $0. b. $150,000. c. $450,000. d. $900,000. 7. Fina Corp. had the following transactions during the quarter ended March 31, 2011: Loss from hurricane damage$350,000 Payment of fire insurance premium for calendar year 2011500,000What amount should be included in Fina's inco me statement for the quarter ended March 31, 2011? Extraordinary LossInsurance Expense a. $350,000$500,000 b. $350,000$125,000 c. $87,500$125,000 d. $0$500,000 8. For interim financial reporting, an extraordinary gain occurring in the second quarter should be a. recognized ratably over the last three quarters. b. recognized ratably over all four quarters with the first quarter being restated. c. recognized in the second quarter. d. disclosed by note only in the second quarter. *9. How is the average inventory used in the calculation of each of the following?Acid-Test (Quick) RatioInventory Turnover Ratio a. NumeratorNumerator b. NumeratorDenominator c. Not UsedDenominator d. Not UsedNumerator *10. Which of the following ratios is(are) useful in assessing a company's ability to meet current maturing or short-term obligations? Acid-Test RatioDebt to Total Assets Ratio a. NoNo b. NoYes c. YesYes d. YesNo *11. Which of the following ratios should be used in evaluating the effectiveness with which the company uses its assets? Receivables TurnoverPayout Ratio a. YesYes b. NoNo c. YesNo d. NoYes Multiple Choice Answers—CPA Adapted Item| Ans. | Item| Ans. Item| Ans. | Item| Ans. | Item| Ans. | Item| Ans. | 1. | c| 3. | b| 5. | b| 7. | b| *9. | c| *11. | c| 2. | c| 4. | b| 6. | c| 8. | c| *10. | d| | | No. AnswerDerivation 1. cConceptual. 2. cConceptual. 3. bRevenue test: $26,200,000 ? 10% = $2,620,000 Profit test: $4,560,000 ? 10% = $456,000 Asset test: $53,200,000 ? 10% = $5,320,000 A, B, C, E. 4. b($2,500,000 + $750,000) ? 10% = $325,000. 5. bConceptual. 6. c($300,000 + $600,000) ? 2 = $450,000. 7. bExtraordinary loss = $350,000 Insurance expense = $500,000 ? 4 = $125,000. 8. cConceptual. *9. cConceptual. *10. dConceptual. *11. cConceptual.

Monday, July 29, 2019

Operating System Windows XP Research Paper Example | Topics and Well Written Essays - 1000 words

Operating System Windows XP - Research Paper Example Each of these possesses their own benefits and disadvantages. However, the most popular system among IT professionals is Windows XP Professional. Windows XP is a very good thing to have in the computer world. There are several programs that you can choose to use to manage your personal data and calculate certain mathematical equations. You can open more than one program at a time. Each window contains a different program. (Spring, 2007) A good example of a program is Microsoft Excel. When you get Microsoft XP Home Edition you also get many other programs that come with it, for instance, go to start and then all programs and then go to Microsoft Office. There is Microsoft Office Excel, Microsoft Office Access, Microsoft Office Word, and Microsoft Office Publisher. Each program has its own purpose. Microsoft Excel is spreadsheet software that organizes data in columns and in rows. (McFedries, 2007, 210) The first thing that you will need to obtain is a copy of Windows XP Pro. You can easily obtain this from your local computer store or make use of a copy from a friend. Next, you will need to check to see if your computer system is compatible with MS Windows XP Professional. You will need to make sure that your system has enough random access memory, or RAM, and be sure that your hard drive is large enough to hold the MS Windows XP Professional files with enough room left to save your own files. Another thing to check before going ahead and installing MS Windows XP Professional is the speed of your processor. (Youg, 2001, 510) It should be running at a minimum of 800 MHz. One processor that I prefer is the AMD-K7 processor. Your system will also need to have an installed CD-ROM drive and an available floppy drive. Now you are ready to begin the installation.

Sunday, July 28, 2019

Role of securitization and structured finance products in the recent Essay

Role of securitization and structured finance products in the recent banking and financial crisis - Essay Example The paper describes the role of securitization and structured finance products in the recent banking and financial crisis. Financial institutions cater to the needs of different types of customers by providing relevant financial services. Financial institutions worldwide have been affected by the adverse market environment created by the US sub prime fiasco. Trouble began when the financial companies started relying too much on the innovation in the blind faith that it will yield returns. As it is common knowledge that banking industry has suffered the most due to the current meltdown, the symptoms of the malaise started emerging in the US mortgage business first. The cracks appeared in the banking system. Housing prices, according to Financial World started falling in the year 2005. Initial symptom appeared in the market for sub prime residential mortgage-supported securities as investment demand shrank in 2006. In February 2007, auctions to finalise rates on ARS instruments failed because of decreasing investor demand. Cracks in financial market became wide open in June 2007 with the failure to meet the lenders’ call on Collateralised Debt Obligations by two Bear Stearns hedge funds for subprime loans. ... After a reset period of two years, interest rates went higher as Fed interest rates also touched a high level, on which sub prime mortgage interests were based. Housing prices started declining sharply after the boom period. A wave of repossessions was behind this trend. Banks started taking precautionary measures, cutting back on credit to cover risks to their investments. Being forced to dry up the whole sale bond market and their balance sheets from the adverse affects, banks started shrinking their portfolio. The Pension Funds suffered the severe losses being the prime purchasers of sub prime mortgage bonds. As the banks have hidden their holdings of sub prime mortgages in off-balance sheet instruments such as â€Å"structured investment vehicles† or SIV’s, they were reluctant to bear the losses. 2. What caused the crisis? The US financial system was under observation, as reported for planning its restructuring and strengthening control but still there is no clarity on what regulatory policy change has been enforced even till June 2009. Limits on mixing of the investment with commercial banking within the financial market were put off by getting away with the Glass-Steagall Act. Investment banks were not regulated for levering up their conditions. Financial innovations promoted easy availability of credit. Loan s against mortgages were â€Å"securitised† and forwarded by associates of Lehman Brothers and other financial companies. The outcome was unhindered consumer spending and reducing household savings. (Schneider & Kirchgassner, 2009). In the US, internal policies and globalisation was responsible for the financial crisis, which was fuelled by innovative products like complex derivative securities,

Saturday, July 27, 2019

Management accounting - Designers will be contracted to provide Essay

Management accounting - Designers will be contracted to provide sketches and ideas - Essay Example When the designs are approved for production, graphic artists and technical production assistants are key to translating original artwork and scrawled words into a pleasing, coordinated product that can be mass produced. Thus, graphic designers might re-size artwork to make it fit a card, add color underneath or on top, combine images with appropriate typefaces for the verse inside, etc. The graphic designers must understand the capabilities of the printing machines and use only those numbers of colors that can be successfully and economically printed. Artwork, transparencies, etc. and verse are united in a mock-up that is approved for further development. When approved, all the specifications for the approved card-everything from the illustration on the front to the verse inside to the UPC code and price on the back-are scanned or input onto a computer disk and sent to the printer (Greeting card n.d.). The printing process is controlled digitally. Plates are created directly by exposure to lasers. A computer disk has "recorded" the image to be reproduced. A plate is run through a machine in which a computer is used to direct lasers to burn an image onto the metal plate. Each color requires its own printing plate and the computer disk is programmed so that it outputs plate specifications for each individual color. ... 1.4. Printing the Cards It is important to note that before an entire run of cards is processed, a couple of examples are run off and submitted for "proofing." The designers, marketers, graphic artists, press operators, etc. examine the card and check it carefully to ensure the imprint is of acceptable quality. Minor color corrections or ink adjustments occur before the print run can proceed. When the proof receives the sign-off, mass-printing begins (Greeting card n.d.). Greeting cards, often printed in runs of 400,000 or more, are often printed using sheet fed offset printing that permits the printer to print between 4,000-18,000 sheets per hour. When ink and a fountain solution (water with chemical additives) are applied to the laser-burned metal plate in the right proportion, the image to be printed accepts ink but repels the fountain solution. The non-image (white or background area) attracts the fountain solution and repels the ink and is left unprinted. From the plate, the image is applied under pressure to a rubber canvas called a blanket. The image is then transferred onto a sheet of paper. The sheets of paper to be printed, about 20 x 35 in (50.8 x 88.9 cm), are put on the press mechanically. The press grabs a single sheet of paper at a time, generally printing all of the black images and words first, then moving quickly to the next metal plate (which applies a different color of the design) without allowing time for drying the just-applied inks. While on the press, an aqueous coating (that provides shine) is applied to the just-printed card by another plate. The cards then air dry for approximately five to six days (Greeting card n.d.). 1.5. Cutting Apart and Packaging After the sheeted cards are completely dried, they are cut into

Friday, July 26, 2019

My Nursing Philosophy Essay Example | Topics and Well Written Essays - 1000 words

My Nursing Philosophy - Essay Example For me to develop my nursing practice, I contemplated on what nursing means to me as well as factors that guide my nursing practice. In the course of my nursing studies, I have encountered different situations, which have enabled me develop my personal nursing philosophy. Additionally they have changed and molded my assumptions regarding nursing practices. However, they have at times challenged my assumption and personal value but for the better. Developing a personal nursing philosophy required me to reflect on my assumptions about nursing and compare them with the facts I had learned, particularly from the different philosophers accredited for developing different concepts that shaped nursing practices. Nursing practices entails giving patient-centered care and maintaining the different ethics that guide nurses in their practice. My nursing philosophy is based on my experiences, nursing education, principles, and theories that guide nursing, as well as my goals as a nurse. It addresses the aspects surrounding nursing practice, which include the society, environment, the patient of recipient of nursing care, health, and nursing care. I have always been compassionate about giving professional caring towards patients. For me, nursing is not just about me as the nurse and the patient, it comprise the patients family and the society. This is because of the roles that may pray in preventing occurrence of certain diseases as well as their contribution in enhancing healing of patients. Additionally, they are an important source of information regarding patients and other health related problems. The American Nurses Association definition of nursing (2004, p. 7) as â€Å"Protection, promoti ng, and Abilities, prevention of illnesses and injury, alleviation of suffering through the diagnosis and treatment of human response and advocacy in the care of individuals, families, communities, and populations† clearly describes what nursing entails. I find this definition very comprehensive since it clearly defines the roles of a nurse. Additionally, it demonstrates the need for continuous knowledge acquisition as key to proficient nursing. For quite some time the issue on whether nursing is, an art or a science has been debated. Being a nurse entail taking care of the patients, this is considered as an art. Therefore, the definition of nursing is a clear depiction of the components of nursing. Being a successful nurse requires one to seek knowledge, which is then applied in the daily activities. This necessitates clear understanding of diseases, their causes, diagnosis, and treatment. This makes nursing a science since it involves seeking knowledge. According to Philips, science is â€Å"an original body of knowledge concerning human beings and their world,† (2006, p.43). Nursing is thus multidimensional, and involves acquiring knowledge in addition applying the theory of behavioral and natural sciences in defining the skills and professional values used in care giving (Warms & Schroeder, 2009; Phillips, 2006).  However, nursing goes beyond understanding the disease progression and treatment. It entails enhancing the healing process through giving care. When Nightingale (1820-1910) and Nissen (1834-1892) wrote a about nursing, they metaphorically compared it to art. They were considering the quality of care given by nurses (Austgard, 2006, 16). The aspect of care giving requires nurses to connect with the patient and their family and is thus an art. Nursing is thus both a science and an art. That is why I consider knowledge crucial for successful nursing. Additionally, applying the knowledge learnt in class is crucial since it enables one to understand different diseases and disease processes. Knowledge acquisition is the scientific component of nursing. It entails learning how to use

Thursday, July 25, 2019

Political Science Essay Example | Topics and Well Written Essays - 750 words - 1

Political Science - Essay Example The first quality is that the theory should explain why interethnic relations are mostly based on tension and mistrust. The second one should explain why the results of interethnic relations are peace and cooperation instead of violence. Lastly, it should explain why in some situations interethnic relations result in spirals of violence or sometimes in war. According to Fearon and Laitin, interethnic conflicts have claimed over ten million lives worldwide since the end of the Second World War (715). However, the approach of many scholars to analyzing this situation is biased, especially while selecting the cases of ethnic conflicts. They focus mainly on post-Soviet and African countries where actual cases of ethnic violence are relatively fewer than potential cases of ethnic violence. In order to avoid biased selection of ethnic violence cases, there is the need for theories that not only account for causes of ethnic violence but also the outcomes of ethnic tension other than violenc e. The first are rationalist theories, which refer to ethnic groups as joint forces that take or defend beneficial materials from others. These materials include education, labor and state investments. In case one ethnic group denies the other the right to possess a certain material, then violence would result between the two groups. The others are psychological theories that refer to ethic groups as a satisfaction to the need of belonging to a group. Therefore, in this case ethnic violence may occur if one group threatens the psychological satisfaction of the other. In addition to rationalist and psychological theories, game theories would be more precise in explaining outcomes of ethnic conflicts other than violence. Game theories consist of spiral equilibrium and in-group policing equilibrium. Spiral equilibrium is where an individual action during the game is taken to be a joint action of the whole group. In this case, all members of group A punish group B members following unac ceptable behavior from one member of group B. A single player from either group immediately triggers a state of complete breakdown of cooperation that once existed between the groups. On the other hand, in-group policing equilibrium is where one group ignores violating actions from the other group, assuming that the other group is going to take disciplinary action against the individual that caused the violation (Fearon and Laitin 730). In this case, a defection of a member from either group does not affect the reaction of the other group. Instead of members from group B responding negatively to members in group A because one of the members from group A portrayed unacceptable behavior, the game continues as if nothing had happened. In some cases, there is the presence of â€Å"noise† which, in this context, refers to additional defections such as drunkenness, misinterpretations or sudden passions. In such a case, the best theoretical approach to addressing ethnic outcome woul d be in-group policing equilibrium. In group policing, unlike spiral regime, punishment is only applicable to the individual responsible for a defection. The other reason that makes in-group policing more appropriate is the fact that in spiral equilibrium members respond to a tiny issue in the same way they would respond to a serious

Blog exercise Assignment Example | Topics and Well Written Essays - 250 words

Blog exercise - Assignment Example As a result, ‘white’ fails to commonly qualify as a racial marker. Being white is often not associated with ethnicity or collective social groups that make up a race. In this respect, it would appear that race and whiteness are two independent factors, such that they do not relate or interrelate in any way. Therefore, the perceived disconnection between ‘white’ and race fails to account for ‘white’ as a racial marker. Finally, the attitude, environment, beliefs, and social perceptions towards whiteness shape the underlying notion relative to racial marking. The aforementioned factors inform the superiority aspect attributed to being white. Whiteness is mostly associated with the best and perfect things, thus the reluctance to use ‘white’ as a racial marker. The documentary, Mirrors of Privilege: Making Whiteness Visible, (http://www.youtube.com/watch?v=pAljja0vi2M) presents the whiteness factor in the western context. The film shows just how much white people denounce racism. A global perspective of racial marking is highlighted, alongside how the white people constitute the white

Wednesday, July 24, 2019

Evans and Blackmores Decision Making Assignment

Evans and Blackmores Decision Making - Assignment Example It should be noted that as the acquisition of the new machine will entail discarding the old, all options will benefit from the revenue of selling the old machine. Due to equity considerations, this report opted to disregard the salvage value of the three machines on the sixth year. Since the salvage value of Models B and C cannot be determined, it is more rational to omit the revenue to be derived from the future sale of the machines. The payback period is one of the simplest ways in ascertaining the feasibility of an investment. This tool is used to determine the length of time that the company can recoup its cash outlay. Table 1 shows the computed payback period for the three options. Quantitative analyses show that Model C or the machine from France is the best choice as it has a relatively shorter payback period of 3 years and an NPV of 16,455. However, using the qualitative information supplied by the managers of Evans and Blackmore Model C is the worst choice as the company will be incurring a high training cost together with the lack of local maintenance firm to service the machine. The last factor mentioned is seen to erode the cost savings generated from the machine. It is irrefutable that maintenance services for a machine is very important as it will help the company fully realize the expected gains from Model C. In case of defects, it can be seen that the costs associated with finding a foreign maintenance firm to restore the machine can offset the high NPV and cause disruption in operation. This report recommends that Evans and Blackmore choose Machine A or the machine from USA. Model B is ruled out as it generates a negative NPV. The rationale of the choice is that Model A has a positive NPV though significantly lower compared to Model C. The presence of a local firm to maintain the machine is a significant advantage. 2.0 Make or Buy Decision The quantitative analysis of the make or buy decision faced by Evans and Blackmore is shown in Table 3. It can be seen that the increase in labor cost coupled with the decrease in material costs brought down the per unit cost to 51.94. The computed values are for 8000 units of component X. Table 3 shows that manufacturing 8000 units of component X will entail the company 415,520 while buying will give a cost of $480,000 ($400,000 for the components and $80,000 for stockholding.) Table 3. Make or Buy Decision This report favors the in-house production of component X instead of outsourcing it. The cost of manufacturing the component is relatively lower as shown in the above computation (Table 3). Another important consideration is the stockholding cost associated with outsourcing. It should be noted that the demand for component X is stable and there is even a possibility that

Tuesday, July 23, 2019

Virtual Reality Research Paper Example | Topics and Well Written Essays - 2500 words - 1

Virtual Reality - Research Paper Example Virtual reality is turning out to be the topic with many opposing viewpoints. It has become the focal point of discussion among the general public for several reasons. Conceivably, this is mostly because of all the potentials which virtual reality develops (Hoffman, 2004). However, despite the disagreement this new technology has awakened, society should not stay dubious. Virtual reality if used in an optimistic way can bring a large technological development. Military and space technology, the entertainment industry, and the physical sciences contributed to the drive to make advanced computers user friendly. Initially, complex simulators presented low-definition displays through binocular headsets. Addition of position sensors introduced "motion parallax", with depth cues that created the illusion of being within a three-dimensional graphical display. The invention of a `DataGlove, whose movements could be sensed by the computer and then reconstructed in the display, enabled the observer and computer to interact with instructions given by the observer via simple hand movements such as pointing. The overall effect was that the observer experienced a computer-generated artificial or virtual reality (VR), whose credibility depended largely on the agreement between the simulated imagery and the familiar sensible world (Zimmer, 2004). Virtual reality applications are finding their way into the mainstream of society. Initially, the use of VR (virtual reality) was seen as valuable only to scientists and engineers whose highly specialized needs more than overcame the poor quality of the computer generated 3D images. For example, scientists can engage in molecular research by moving within molecules to examine their structures. Doctors and other medical personnel can practice elaborate or dangerous procedures before attempting them on human subjects. With special imaging software, the

Monday, July 22, 2019

Exploring How State of Matter Affects the Rate of Diffusion Essay Example for Free

Exploring How State of Matter Affects the Rate of Diffusion Essay Introduction Diffusion is the random process by which particles distribute themselves within a container or medium. There are two factors that distinguish how substances move passively through membranes. The first factor is hydrophobic , a nonpolar molecule that can dissolve in a lipid bilayer and freely move through the membrane. However a hydrophillic molecule consisting of ions and polar molecules inhibit in their movement through the membrane making it a slower diffusion process. Selectively permeable, moreover, are charged atoms and molecules that are mostly blocked from traveling through the membrane due to the hydrophobic center. The purpose of this experiment was to test how the state of matter affects the rate of diffusion in a semi-solid vs. a liquid state. If the Potassium Permanganate crystals are placed in Petri dishes filled with water and 2% agar, then the crystals will diffuse at a faster rate in water than in the agar. The addition of the Potassium Permanganate crystals to the water and agar, there will be a result of more diffusion and more obvious color change in water compared to agar which will result in a slower less obvious diffusion. Materials The materials needed for this experiment are: One Petri dish with 2% agar and one Petri dish of water filled half way up to test the rate of diffusion. Also, two small crystals of potassium permanganate and one pair of forceps will be needed to place in the Petri dishes. One metric ruler will be need as well to measure the change of color in diameter and one 8 x 11 piece of white paper will also be used for safety precautions. Methods First, a member of the group will gather all the materials including the Petri dishes filled with tap water and 2% agar, forceps, ruler, 8X11 piece of white paper and the jar that contains the potassium permanganate crystals, and bring the materials back to the designated area. Then the experimenter will start to conduct the experiment. Then the experiment will consist of placing the empty Petri dish and the agar Petri dish on top of the white paper side by side. Second, Tap water will be added to a half way point in the empty Petri dish until it is approximately the same level as agar in the other Petri dish. Before continuing, wait for the water to stop moving to get an accurate measure of the diffusion. After that, have lab partner assist with placing potassium permanganate crystals into the agar Petri dish, while at the same time, the primary experimenter places the other two potassium permanganate crystals into the tap water. Be sure not to splash water in the aqueous dish. The moment that each crystal has been lowered is Time Zero. A purple color will be obvious immediately. Next have the experiment observe the diffusion rate for every 3 minutes for the next 15 minutes. For every 3 minutes, measure the diameter of the diffusion circle in millimeters (mm) and write down the measurement on the chart given. Be careful not to disturb the aqueous Petri dish. Discussion The results show that there a major difference in the rate of diffusion between 2% agar and tap water. Immediately, when the potassium permanganate crystals were dropped at 0, there was already an instant diffusion of 2 mm, compared to agar which was 1mm. Because water is a polar molecule, diffusion across membranes travel quicker compared to a nonpolar substance like agar that diffuse though the lipid part of a membrane. At the first 3 minute mark, it shows that the crystals have diffused relatively fast at 15 mm, compared to the diameter in agar which has slowly diffused to 5 mm. for the next 12 minutes, results have show that the diameter in water has increase about 8 10 mm every 3 minutes and agar has stayed the same throughout. Due to passive transport, the movement of molecules from the potassium permanganate have a higher concentration, and are then added to water which diffuses from that high concentration to a lower concentration. This was the expected result. Since water is polar, the crystals can easily diffuse through the gradient. Furthermore, with agar being a nonpolar molecule, it maintained a state of dynamic equilibrium because it diffused slower but was diffused evenly. However since other factors do play a role in the rate of diffusion, maybe temperature could have changed the rate of diffusion for the two Petri dishes. Also had the allotted time been different there may have also been a change in the results. There were no negative results or errors made during this experiment. Based on the results it can be concluded that dropping potassium permanganate crystals into water, diffuses across the gradient faster compared to 2% agar. This does support the initial hypothesis and the predictions were accurate.

Sunday, July 21, 2019

Business Essays Sustainability Business Corporate

Business Essays Sustainability Business Corporate Sustainability Business Corporate Executive summary Nowadays, the idea of sustainability has gained wider recognition by most corporates. And business operations are conducted mostly under the guidance of it, that is, satisfying our own needs without diminishing the chances of future generations. There is no denying that the term sustainability poses new challenges for business activities. Actually, any corporate expecting for long-term benefits must be responsible for environment and ecosystems and function in a ethical way. In the new sustainable era, more and more corporates have realized the importance of environmental policies and practices towards sustainability, expecting to reduce their footprints on environment. In order to better understand corporates sustainable development, the report will choose Nestle and Coca-Cola as study objects, both of which are famous food and beverage enterprises in the same industry. Through appropriate analysis and comparation in terms of their environmental policies and non-financial practices, the report is intent to achieve some conclusions summarizing their overall differences in the way they approach sustainability issues and provide certain kind of recommodations to improve their future sustainability performance. Introduction Business sustainability is a pro-active approach to ensure business long-term viability and integrity by optimizing resources, reducing environmental impacts while not compromising product quality, competitiveness and profitability. With the rapid development of business economy, environmental concerns have become of paramount urgency for all corporates, who are responsible a great deal for environmental problems. Quite simply, there are still many business having not taken ethics and social responsibility into consideration, thus destroying environment and their long-term benefits. Therefore, one of the greatest challenges today is to advocate sustainable forms of business and encourage all business assume social responsibility consciously. (Barry, N. P. 2000) Fortunately, when environmental crisis begin to affect business activities, when unethical behavirors begin to bring about side effects to business development, more and more corporates have realized the necessity to perform in a sustainable and ethical way, not only for its stakeholders but also for whole society, as well as for a sound future development space. And a series of polices and practices have been applied by corporates to thoroughly commit to doing more for society. Even though, it is not uncommon to see some corporates sacrificing potential of future generations , only to meet their present needs. Exactly, beyond meeting needs of customers and shareholders, corporates should function according to requirements of societal responsibility. Besides, business should acknowledge its societal role and can lead sustainability for both itself and society. Firstly, the report will review Nestle and Coca-Colas distinct environmental and ethical policies. Secondly, the report will analyze and compare the two corporates different sustainability practices. Then select another topicwaste disposal issues to futher discuss their special attention on corporate social responsibility and sustainable development. In the discussion, academic concepts, frameworks, industry standards will be used to support the views. Lastly, the report will give some suggestions and recommendations to Nestle and Coca-colas next-step sustainable development. Discussion and Analysis (1) Environmental and ethical policies Generally speaking, corporate environmental policies arise from urgent need of environment protection and improvement in social responsibility sense. Recently, most corporates have come to realize the importance of environmental and ethical issues in sustainable development. (Donaldson, T, Werhane, P.H. and Cording, M, 2002) Nestle and Coca-cola are two worldwide famous beverage corporates in food and agriculture industry. Though both of them set sustainability as one of development goals, either of them has distinct environmental policies. As the worlds largest food and beverage manufacturer, Nestle published Nestle Policy on the Environment in 1991 to state its long-lasting commitment on environmental issues for sound business practices. In business activies, Nestle complies with environmental businesss and regulations, participates in legislative and regulatory discussions, and fosters rational environmental businesss. On the basis of applicable legislation, Nestles internal rules are applied for the purpose of reducing environmental footprints and costs, for example, reduced energy consumption, fewer greenhouse gas emission and less water usage. To sum it up, basic principles in Nestle are in favor of long-term development commitments over short-term profits; respecting of diverse cultures; management based on ethical values and information recognition of consumers brand preferences and products requirements. And strict auditing and assurance standards are available to ensure ethical policies smooth application, with Corporate Business Principles, certified standards of ISO 14001, OHSAS 18001 and ISO 22000. For competitive advantages, policy priorities have been given to environmental issues concerning natural resources preserve ,waste minimisation and recovery. In a word, Nestles sustainability policies designs are environmental and sustainable ,which are fit for all its business activities, ranging from research and development, supply chain, information, communication and training. Chart one: Nestles environmental performance indicators in Latin America As for Coca-cola enterprise(CCE), the worlds largest marketer, producer and distributor Coca-cola products, in 2007, CCE formally established CRS as a pillar of Global Operating Framework, intergrating it into everyday business operations. And this framework outlines srategic priorities to guide vision achievement. Besides, CCE also sticks to external standards, such as 10 priciples of the United Nations Global Compact, international management systems standards for quality (ISO 9001), environment (ISO 14001), and health and safety (OHSAS 18001). (Environmental Sustainabilty Index.2001) Its ultimate objective is to achieved full certiication of quality, environment, health, and safety by the end of 2010. Meanwhile, in July 2008, it published its third company-wide Corporate Responsibility and Sustainability (CRS) Report, announcing commitments in water stewardship, sustainable packaging/recycling, energy conservation, product portfolio/well-being, and diverse and inclusive culture. Water, solid waste and packaging, and energy are its environmental priorities. In order to better implement environmental policies, CCE also cooperates with suppliers, customers, consumers, community leaders and employees widely. And Environmental Management System (EMS) has been implemented and maintained to fulfill environmental commitment. Other than adhereing to applicable local environmental businesss and regulations, CCE environmental policies put emphasis on establishing objectives to measure environmental impacts, pollution prevention, and efficient use of resources. Furthermore, environmental projects and initiatives with local communities have been consolidated as one of the sustainable development policies. (2) Non-financial reporting practices Environmental protection is an integral part of business strategy. (Esty, Daniel C., Marc Levy, Tanja Srebotnjak, and Alexander de Sherbinin.2005)To fullfill its commitiments, Nestle firstly integrates environmental principles and policies across whole business. Then Nestle Environmental Management System has been applied for continuous improvement of environmental performance. Compared with ten years ago, in 2007, Nestle reduced direct greenhouse gas emissions by 16% and overall water withdrawal by 28% and invested about 100 million in environment-related industries and 170 million in new sustainable production facilities. Secondly, a great number of water conservation methods and water treatment plants have been implemented. And top priorities have been given to water consumption toreduce the amount of water used per kilo of food and beverage, because maintaining good water quality is vital to business interests. Thirdly, along its life cycle, Nestle aims to source sustainableraw materials, reduce energy consumption and minimise air emissions. Its sustainableproduct life cycleensures eco-efficiency, especially in by-products and waste management. For example, innovative packaging materials such as Plantic a biodegradable alternative to plastic , have been developed to reduce volum of packaging material used in bottled water. In additon, Nestle provides thousands of farmers with free technical assistance and infrastructure for greater yields of higher quality crops with fewer resources. About half of factories in rural third world have a profound impact on family income and life quality. Supply of safe raw materials and better end products is undoubtedly to gain consumers credit and preference. Brand value forms. Anyway, Nestle helps numbers of consumers for easy access to a safe, healthy and enjoyable diet through a sustainable way to eliminate dangerous trends and is committed to environmentally business practices. Sustainability is central to Nestle strategies and corporate social responsibility is reflected perfectly, added up with vested interests of shareholders. Nestles stainable environmental practices and shared values benefit not only its shareholders but also society. When it comes to non-financial practices in Coca-cola Enterprise(CCE), firstly, around CRS efforts, stakeholder engagement is strengthened to help ascertain key targets and chanllenges. It is stakeholders that urge us to pay special attention to sustainability issues. Customers expect CCE to manage social and environmental matters. Through collaborating with suppliers, CCE develops technology to reduce environmental impacts in supply chain, while at the same time persuades them to perform in responsible practices. Employees are educated for CRS goals. In addition, faculty,specialists and students in universities are involved to deepen sustainability considerations in theory. Secondly, good governance is fundenmental to make sustainable development come true. Corporate responsibility and sustainability committee is an organization responsible for significant social, ethical, and environmental concerns. Confronted with sustainability chanllenges, policymakers are sensitive to changes and new development area. For example, durning 2007,CCE chaired British Food Industry Sustainability Strategy Champions Groups on Water, which gave suggestions for Sustainable Food and Farming strategies. And Social, ethical, and environmental risks can be managed and evaluated in time. Thirdly, in the fields where business has greatest impacts, to minimize environmental footprint is stressed. In view of finite water resource, it is necessary to protect water source, watersheds and to improve water efficiency. By 2001,CCE will reduce plant water usage ratio by 10%. Beverage packaging consisted of alunimum, glass and PET is reduced and recycled to realize sustainability. In munufacturing, fleet, sales, marketing facilities, CCE makes endeavors to reduce carbon emmisions, improve energy efficiency and explore renewable energy , such as electricity and natural gas. Last but not least, a highly talented and diverse workforce is essential to sustainable development. A variety of training and earning opportunities and programs are provided to develop employees sustainable performance skills. Besides, healthy lifestyles, fair workplace, and appropriate rewarding are available here. (3)Waste issues For a long time, Nestle has worked with FareShare community food network and Ron Hulla waste managementcompany and FareShare1st has been created to dispose of surplus foodin a environmentally friendly way, through which remaining waste is reused or recycled for good quality food redistribution. As for CCEs wastewater , disposal process is operating according to applicable businesss and regulations. In 2007,CCE discharged 20 gigaliters of wastewater into municipal treatment plant. When municipal treatment facilities are not available, internal on-site treatment systems function under guidance of stringent wastewater standards. Just as Cola describes, 98% of solid wastes source from bottling process. Production waste includes empty ingredient containers, secondary packaging, film, glass, plastic, etc. Statistics show that in 2004, 76% of solid waste were recycled and reused, compared with 74% in 2003. Improved solid waste ratio and improved recycling ability suggest that various recycling programs have been applied to reduce waste. For example, Latin A mercians first PET recycling plant operated in 2005, with 25000 tons of PET recycling ability. In all, apart from economic profits, both of them work to conserve natural resources and protect environment through appropriate strategies concerning waste issues. As for manufacturing waste in bottling plants, raw materials reduction, solid waste minimization, and recycling increasement are best chioces. As for packaging waste in the marketplace, waste collection, recycling and recovery mechanism has been established to deal with them generated in production. Conclusion In conclusion, Nestle and Coca-cola are in the same food and beverage manufacture industry, although both of them begin to put sustainability development on the agenda, and plan to reduce production impacts on environment, their attitudes towards dealing with sustainability issues are different from each other. On a large scale, the reasons why differences appear lie in their distinguished customers and target groups. When Nestle coffee aims to create a kind of comfortable mood for those who want to taste, Coca-cola plans to satisfy almost all peoples basic needs for Coca. After all, as a f oreign beverage, coffee is not likely to adapt to domestic tastes. In this sense, different consumer groups determine different business policies, including choices in environmental policies. In the vision of sustainable development, Nestle sees it a comprenhensive concept, and defines it as the process of increasing access to higher quality products, while contributing to long-term economic and social development for not only recent generation but also future generations. A healthy profit is no longer at the expense of long-term business development. In Coca-cola, on the other hand, commitment to good citizenship is part of its business practices. And sustainable growth depends on the success in areas of profit, planet, people, partners and protfolio, of which being a responsible citizen makes a difference. In the way how to perform sustainable practices and business strategies, there is a framework for Creating Shared Value in Nestle , which embraces societal value and Nestls shareholder value. While Coca-cola provides a citizenship framework to guide its business in areas of marketplace, workplace, environment and community.( Whetten et al. 2002) In focus of sustainability chanllenges, water, health and wellness, and HIV/AIDS in Africa demand Coca-cola heightest attention. While Nestle believes nutrition, health and wellness as key issues, added up with human rights,sustainable production and community support. (Friedman M. 1970) Certainly, both of them give special attention to water usage. In the field of environmental management, in 1996 Nestle Environmental Management Syste (NEMS) was created and implemented throughout whole company to manage all environmental activities with good results. And Coca-cola follows The Coca-Cola Management System (TCCMS) externally benchmarked against ISO 14001, whose environment portion is called eKOsystem. The function of this system ensures environmental concerns are incorporated into everyday performances for efficiency improvement and costs reduction. Hence, Nestle and Coca-colas successful business tells the inspiring experience of their efforts towards limited growth, reduced environmental impacts and support of social and ecological goals positively. As a result of different brands and products, there indeed exists a great many differences between Nestle and Coca-cola in concrete environmental practices. As long as they are fit for their sustainable policies and business strategies, it is no necessity to assess wether their practices are good or not. Recommendations However, in some developing countries, Nestles business practices have been controversial and thought as unethical, in particular baby formula marketing, which led to widespread boycott since the 1970s. The boycott could be attributed to 1.5 million babies death each year on account of contaminated water mixed with milk. And the same thing is not uncommon in Coca-cola. In 2003, its soft drink was found by Centre for Science and Environment to have 30 times the permitted amount of pesticide residues. In India, Coca-Cola has also been accused of excessive water usage. Nutritionists even argue excessive consumption of soft drinks is harmful to young children because they have a lower intake of calcium, magnesium, ascorbic acid, and vitamin. Although Coca-cola has responded that its products meet minimum health standards and are strictly tested to remove potential contaminants before distribution, criticism or controversy ultimately result to sales decline to some extent. The year 2003 witnessed Nestles transgenic storm, which explained its indifference of public health safety and lack of basic social responsibility. In 2005, Nestles excessive-iodine incident marked its failure in public relations crisis, because the case took place after colloboration with Coca-cola, it would reduce confidence of dealers and consumers towards their co-production of liquid coffee. It is obvious that both Nestle and Coca-cola has not fully perform in accordance with sustainable principles. As for corporates in pursuit of profits, accecptance of environmental protection sense and sustainability idea is no easy task. (Werhane, P. H. and Freeman, R. E. 1999) Above all, in future development process, for sustained competitive advantages, their attentions should also be addressed on sustainability performance improvement. It is of great necessity for both corporates to make efforts to improve environmental performance facing up with emerging environmental challenges. The followings are recommodations for both corporates concerning future sustainability development. For one thing, needless to say, sustainability is still a basic principle, in other words, all business activities should aim to minimise negative effects on environment and keep a balance between economic interests and social and environmental concerns. For another, along supply chain of raw materials sourcing, manufacturing , packaging, distribution, marketing , to meet environmental commitment should always be kept in mind. For example, they should encourages suppliers to adopt most efficient and appropriate packaging materials to satisfy consumer requirements without jeopardising products quality. Whats more, sustainability and environmental management system (EMS) must be implemented and strengthened throughout entire business operation to ensure effectiveness of environmental policies and programmes, and to achieve compatibility with international environmental management standards, such as ISO 14001, the European Union Eco-Management and Audit,etc. In the future, their attention should be paid on environmental management structure enhancement, key sustainability activities measurement, ongoing performance reports, manage and forecast, and reliable environmental information communication. Besides, practical, aspirational environmental goals must be established annually. In addition, responsible leadership is inevitable to coordinate economic, social, and environmental goals,which means integrating ethical considerations into decision-making process . From the perspective of good governance , enterprise risk management (ERM) approach should be intergrated for a scientific sustainability-oriented decision-making process. Then, a skilled and responsible workforce is vital to realize sustainable objectives. Only if employees perform to their full potential, it is possible to attain superior development and future sustainable growth. Training and education should be provided for them to adjust to new sustainable expectations. And a safe fair workplace where they are respected and valued is another way for a empowered, well-trained and professionally team. Besides, in brands collaboration, in order to avoid similar incidents(Nestles unethical behviors bring disaster to Cola) , brand values and performance research before cooperation is i ndispensable. Finally, to be successful, both Nestle and Coca-cola must understand clearly stakeholders concerns. In CSR efforts, stakeholder engagement and coorporation mechanism should be strengthened, including suppliers, employees, NGOs, consumers, customers, investers, governments and local communities. Through engagement , valuable feedback can be received to help us better understand their requirements and how we can perform. For example, most consumers prefer to environmental healthy products. And through collaboration with suppliers, corporations can ensure them understand sustainable development expectations and engage them into environmental performances in supply chain.