|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
||||
In: Accounting
|
Comparative balance sheets for 2016 and 2015 and a statement of income for 2016 are given below for Metagrobolize Industries. Additional information from the accounting records of Metagrobolize also is provided. |
|
METAGROBOLIZE INDUSTRIES Comparative Balance Sheets December 31, 2016 and 2015 ($ in 000s) |
||||
| 2016 | 2015 | |||
| Assets | ||||
| Cash | $ | 500 | $ | 250 |
| Accounts receivable | 550 | 290 | ||
| Inventory | 700 | 400 | ||
| Land | 700 | 650 | ||
| Building | 800 | 800 | ||
| Less: Accumulated depreciation | (250) | (215) | ||
| Equipment | 3,000 | 2,750 | ||
| Less: Accumulated depreciation | (355) | (320) | ||
| Patent | 1,000 | 1,150 | ||
| $ | 6,645 | $ | 5,755 | |
| Liabilities | ||||
| Accounts payable | $ | 800 | $ | 550 |
| Accrued expenses payable | 250 | 220 | ||
| Lease liability—land | 150 | 0 | ||
| Shareholders' Equity | ||||
| Common stock | 2,660 | 2,500 | ||
| Paid-in capital—excess of par | 600 | 560 | ||
| Retained earnings | 2,185 | 1,925 | ||
| $ | 6,645 | $ | 5,755 | |
|
METAGROBOLIZE INDUSTRIES Income Statement For the Year Ended December 31, 2016 ($ in 000s) |
||||
| Revenues | ||||
| Sales revenue | $ | 3,020 | ||
| Gain on sale of land | 80 | $ | 3,100 | |
| Expenses | ||||
| Cost of goods sold | $ | 1,000 | ||
| Depreciation expense—building | 35 | |||
| Depreciation expense—equipment | 440 | |||
| Loss on sale of equipment | 20 | |||
| Amortization of patent | 150 | |||
| Operating expenses | 600 | 2,245 | ||
| Net income | $ | 855 | ||
| Additional information from the accounting records: | |
| a. | During 2016, equipment with a cost of $450,000 (90% depreciated) was sold. |
| b. |
The statement of shareholders' equity reveals reductions of $200,000 and $395,000 for stock dividends and cash dividends, respectively. |
| Required: | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Prepare the statement of cash flows of Metagrobolize for the year ended December 31, 2016. Present cash flows from operating activities by the direct method. (Enter your answers in thousands (i.e., 5,000 should be entered as 5). Amounts to be deducted should be indicated with a minus sign.)
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
In: Accounting
|
The comparative balance sheets for 2016 and 2015 and the income statement for 2016 are given below for Arduous Company. Additional information from Arduous’s accounting records is provided also. |
|
ARDUOUS COMPANY Comparative Balance Sheets December 31, 2016 and 2015 ($ in millions) |
||||
| 2016 | 2015 | |||
| Assets | ||||
| Cash | $ | 146 | $ | 96 |
| Accounts receivable | 205 | 224 | ||
| Investment revenue receivable | 23 | 19 | ||
| Inventory | 222 | 215 | ||
| Prepaid insurance | 21 | 28 | ||
| Long-term investment | 203 | 140 | ||
| Land | 241 | 165 | ||
| Buildings and equipment | 427 | 430 | ||
| Less: Accumulated depreciation | (109) | (150) | ||
| Patent | 43 | 47 | ||
| $ | 1,422 | $ | 1,214 | |
| Liabilities | ||||
| Accounts payable | $ | 65 | $ | 95 |
| Salaries payable | 23 | 33 | ||
| Bond interest payable | 25 | 19 | ||
| Income tax payable | 27 | 32 | ||
| Deferred income tax liability | 41 | 23 | ||
| Notes payable | 38 | 0 | ||
| Lease liability | 97 | 0 | ||
| Bonds payable | 230 | 305 | ||
| Less: Discount on bonds | (37) | (46) | ||
| Shareholders’ Equity | ||||
| Common stock | 455 | 425 | ||
| Paid-in capital—excess of par | 115 | 100 | ||
| Preferred stock | 90 | 0 | ||
| Retained earnings | 277 | 228 | ||
| Less: Treasury stock | (24) | 0 | ||
| $ | 1,422 | $ | 1,214 | |
| ARDUOUS
COMPANY Income Statement For Year Ended December 31, 2016 ($ in millions) |
||||||
| Revenues and gain: | ||||||
| Sales revenue | $ | 557 |
|
|||
| Investment revenue | 28 | |||||
| Gain on sale of treasury bills | 4 | $ | 589 | |||
| Expenses and loss: | ||||||
| Cost of goods sold | 195 | |||||
| Salaries expense | 88 | |||||
| Depreciation expense | 9 | |||||
| Patent amortization expense | 4 | |||||
| Insurance expense | 22 | |||||
| Bond interest expense | 43 | |||||
| Loss on machine damage | 30 | |||||
| Income tax expense | 51 | 442 | ||||
| Net income | $ | 147 | ||||
| Additional information from the accounting records: | |
| a. |
Investment revenue includes Arduous Company’s $23 million share of the net income of Demur Company, an equity method investee. |
| b. |
Treasury bills were sold during 2016 at a gain of $4 million. Arduous Company classifies its investments in Treasury bills as cash equivalents. |
| c. |
A machine originally costing $100 million that was one-half depreciated was rendered unusable by a flood. Most major components of the machine were unharmed and were sold for $20 million. |
| d. |
Temporary differences between pretax accounting income and taxable income caused the deferred income tax liability to increase by $18 million. |
| e. |
The preferred stock of Tory Corporation was purchased for $40 million as a long-term investment. |
| f. |
Land costing $76 million was acquired by issuing $38 million cash and a 14%, four-year, $38 million note payable to the seller. |
| g. |
The right to use a building was acquired with a 15-year lease agreement; present value of lease payments, $97 million. |
| h. |
$75 million of bonds were retired at maturity. |
| i. | In February, Arduous issued a stock dividend (4 million shares). The market price of the $5 par value common stock was $7.50 per share at that time. |
| j. |
In April, 1 million shares of common stock were repurchased as treasury stock at a cost of $24 million. |
| Required: | |
|
Prepare the statement of cash flows for Arduous Company using the indirect method. (Amounts to be deducted should be indicated with a minus sign. Do not round your intermediate calculations. Enter your answers in millions (i.e., 10,000,000 should be entered as 10.).) |
In: Accounting
Kaa & Shere Khan Company has a non-contributory, defined benefit pension plan. Kaa’s incremental borrowing rate is 7%. The accounting period ends 31 December 2016. Pension plan data to be used for accounting purposes in 2016 are as follows:
Fair value of plan assets, Dec 31, 2015 $6,258,000
Defined benefit obligation, Dec 31, 2015 $7,299,000
Actual return on plan assets for 2016 $61,100
Actuarial revaluation dated Dec 31, 2016 $(806,900)
(due to mortality assumption changes)
Funding payment at year end 2016 $250,000
Benefits paid to retirees in 2016 $105,000
Current service cost for 2016 $233,400
Required:
In: Accounting
A student decides to set up an experiment that night before performing the experiment. A 0.40 g sample of sodium hydroxide in a 250 mL beaker that has a mass of 112.58 g. The beaker is allowed to stand open (exposed to air) for 24 hr. At that time, the student observes that the beaker contains a dry, white residue and the total mass of the beaker and the residue is 113.09 g. He proposes that a reaction must have occurred between the sodium hydroxide and the carbon dioxide in the air. The possible reactions are:
sodium hydroxide(s) + carbon dioxide( g) -> sodium carbonate (s)
sodium hyroxide (s) + carbon dioxide (g) -> sodium carbonate (S) + water (g)
sodium hydroxide (s) -> sodium oxide (s) + water (g)
Write the balanced chemical equations for the above reactions.
Determine the amount of solid product expected in each reaction.
Based on these calculations, which of the above reactions would you predict is correct? Show all the work including chemical equations and explain your choice. Thank you.
In: Chemistry
Experiment 8 – Air and the Ideal Gas Laws
This experiment will follow the procedure outlined in Experiment 8 in the lab manual. You may find it useful to review the Gas Laws in the lecture text before lab along with the lab manual Introduction, Theory and Procedure.
1. Define an ideal gas and how this definition is related to the Kinetic Molecular Theory of Gasses. Provide at least one citation for this question.
2. Define a real gas and how this definition is related to the Kinetic Molecular Theory of Gasses. Provide at least one citation for this question.
3. Discuss under what set of conditions a real gas is most likely to deviate from ideal behavior and why.
4. Using Equations 8.4 and 8.6, calculate the volume of 0.523 moles of water vapor at 300 K and 0.986 atm – you must show all work, including necessary unit conversions. Compare the value obtained from both equations and explain how your results compare to the theory discussed in the lab manual.
In: Chemistry
experiment: colligative properties
Water cannot be used as the solvent for this experiment. For what types of molecular substances - give specific examples - could water be used as a suitable solvent to determine a molecular weight?
Can water be used to determine the formula weights of all ionic compounds? What are the limitations, if any?
Why does the slope of the mixed solution continue to decrease rather than reaching a plateau like that observed for the pure liquid? Hint: When the solution freezes the solid is pure solvent.
In: Chemistry
Experiment 3: Charging by Contact and Induction
In this experiment, you will charge pith balls by contact and
induction.
Materials
Electrostatics Kit
Masking Tape
Monofilament Line
Paperclip
Wooden Block with Slit
*Metal Object (ex. Doorknob)
*You Must Provide
Procedure
1. Tear one small piece of masking tape from the roll
(approximately 5 cm).
2. Create a small, closed loop with the tape, leaving
the sticky side on the outside of the loop.
3. Secure the looped tape to one of a side of the
wooden block adjacent to the side with the slit.
4. Press the taped side of the wooden block onto a
smooth wall (or the flat side of a counter or table top) with the
slit pointing perpendicular to the wall and parallel to the
floor.
5. Unwrap the outer layer of a paperclip.
6. Use the exposed end of the paperclip to poke a hole
through the centers of two pith balls.
7. Thread one end of the monofilament line through one
of the pith balls. Tie a knot on the end that you threaded through
to keep the pith ball on the thread.
Note: If the paperclip created a larger hole, three to five knots
may need to be tied to secure the ball on the thread.
8. Repeat Step 7 on the other end of the monofilament
line with the other pith ball.
9. Once the pith balls are secured on each end of the
line, place the line in the slit of the wooden block. The pith
balls should rest at the same height.
10. Remove any charge from the acetate strip (wide and
clear) by grabbing it with your hand or rubbing it on a metal
object like a door knob. This is called grounding.
11. Test for interactions between the acetate strip and
both pith balls. Record observations of any interaction.
12. Charge the acetate strip by rubbing it with the
cotton cloth.
13. Slowly bring the plastic strip close enough to the
right pith ball so that it moves, but does not touch the plastic
strip. Once movement of the pith ball is observed move the plastic
strip away. Record your observations (e.g., how far away were the
two objects, how fast did the pith ball move, in what direction did
the pith ball move, etc.).
14. Slowly bring the plastic strip close enough to the
left pith ball so that it moves, but does not touch the plastic
strip. Once movement of the pith ball is observed move the plastic
strip away. Record your observations.
15. Hold the monofilament line above the right pith
ball and bring the ball into contact with the plastic strip.
16. Let the pith ball hang again and bring the plastic
rod close to, but without touching the right pith ball. What kind
of interaction is observed? Record your observations in Post-Lab
Question 3.
17. Hold the line above the right pith ball and bring
it close to the left pith ball. Observe what happens. Let the balls
come into contact. How does that change the interaction?
18. Grab the pith balls to ground them and take away
any charge they may have.
19. Charge the plastic rod again with the cotton.
20. Hold the line above the right pith ball with your
pointer and middle finger. Bring the right pith ball close to the
plastic rod, but do not let them touch. This time touch the left
side of the ball (the one opposite of the rod) with your thumb. Let
the ball hang again. Bring the right pith ball close to the left
pith ball. Observe what happens.
Observations
After step 10-14 we can see a movement off the balls in the
direction of the plastic strip (after rubbing it with a cotton
cloth). The balls moves as close as it can to the plastic strip
(like 2-3 cm)
When we put the plastic strip close enough to the left pith ball it
moves to the left
Step 16- they were attracted to each other (the ball and the
plastic)
Step 17- the balls a little bit attracted to each other but not too
much
Post-Lab Questions
1. Explain why the pith balls were attracted to the charged plastic strip.
2. State two observations that show the right pith ball was charged after it came into contact with the plastic rod.
3. What did you observe as you performed Step 16? Use
your results to explain what happened.
4. Draw a diagram to show how Step 13 charged the right
pith ball.
5. What is the charge of each pith ball if they are
attracted to each other? Explain your reasoning.
In: Physics
Experiment 2: Static Materials
In this experiment, you will investigate the phenomenon of static
electricity of various materials.
Materials
Electrostatics Kit Materials
*Paper (Any Kind)
*Flat Work Surface
Procedure
1. Tear the paper into small pieces (approximately the
size of a hole-punch) and scatter them in a small area on a table
or flat surface.
2. Choose one plastic strip (acetate [light blue and
transparent], vinyl [no color and transparent], or polyethylene
[white and translucent]) and one fabric (wool or cotton cloth) from
the electrostatics kit.
3. Quickly rub the fabric up and down the length of the
plastic strip for approximately 20 seconds.
4. Bring the plastic strip near the small, torn pieces
of paper.
5. Record observations about the amount picked up and
behavior of the paper in Table 2.
6. Repeat Steps 2 – 5 for five additional fabric and
plastic combinations.
Table 2: Static Electricity Properties of Various Materials
| Type of Plastic | Type of Fabric | Observations |
Post-Lab Questions
1. What happens when you bring the charged plastic strip near the paper pieces? Why does this happen?
2. Draw a free body diagram of the forces acting on the piece of paper.
3. Why does the electric force easily overcome the force of gravity and lift the paper off the surface without even touching the paper?
4. Which of the materials pick up positive charge
and which pick up negative charge? How did you determine
this?
In: Physics
Experiment #2: An experiment run found that the two enantiomers of Isoflurane do not act the same as anesthetics, in that it took a smaller amount of one to produce the same anesthetic effect as the other. What is a chiral receptor? What roles do chiral receptors play in biological systems? Does the fact that the two enantiomers of Isoflurane do not act the same support or disprove the hypothesis listed above? Explain your answer
In: Chemistry