On January 1, 2015, the Crocus Company began construction of a new manufacturing plant. The plant was completed on December 31, 2016. Expenditures on the project were as follows (in $ millions):

January 1, 2015 $1

July 1, 2015 54

October 1, 2015 22

February 1, 2016 30

April 1, 2016 21

September 1, 2016 20

December 31, 2016 6

On January 1, 2015, Crocus obtained a $60 million construction loan with a 6% interest rate. The loan was outstanding through the end of December, 2016. The company's other interest-bearing debt was a long-term note for $70 million with an interest rate of 8% and a bond payable for $30 million with an interest rate of 5%. The note and bond were outstanding during all of 2015 and 2016. The company's fiscal year-end is December 31.

What is the amount of interest that Crocus should capitalize in 2015, using the average interest method?

What is the amount of interest that Crocus should capitalize in 2016, using the average interest method?

ABC Inc builds and sells single-family homes. The company had the following transactions during Q1 2016 period that ended on March 31, 2016:

Purchased a single-family home on January 10, 2016 which it plans to renovate and resell. The home was purchased for $200,000 cash.

Purchased $5,000 worth of building materials at Home Depot to be used in the renovation. The purchased was paid with cash.

Hired a contractor to perform the renovation of the house. The renovation was completed on February 10, 2016 and the contractor billed ABC Inc $10,000 for this renovation. The amount was not paid as at the end of Q1 2016.

Purchased general office supplies of $1,000 cash during Q1 2016.

Sold the home for $300,000 cash on March 30^th 2016.

At the beginning of the quarter (1/1/16), ABC Inc Balance Sheet has only $300,000 in Cash and $300,000 in Owners’ Equity.

Create a transaction table for the above events (remember you must include the accounts you debit and credit).

Create ABC Inc Balance Sheet at the end of Q1 2016.

Fava Company began operations in 2015 and used the LIFO inventory method for both financial reporting and income taxes. At the beginning of 2016, the anticipated cost trends in the industry had changed, so that it adopted the FIFO method for both financial reporting and income taxes. Fava reported revenues of $300,000 and $270,000 in 2016 and 2015, respectively. Fava reported expenses (excluding income tax expense) of $125,000 and $120,000 in 2016 and 2015, which included cost of goods sold of $55,000 and $45,000, respectively. An analysis indicates that the FIFO cost of goods sold would have been lower by $8,000 in 2015. The tax rate is 30%. Fava has a simple capital structure with 15,000 shares of common stock outstanding during 2015 and 2016. It paid no dividends in either year. Required: 1. Prepare the journal entry to reflect the change. 2. At the end of 2016, prepare the comparative income statements for 2016 and 2015. Notes to the financial statements are not necessary. 3. At the end of 2016, prepare the comparative retained earnings statements for 2016 and 2015.

the voltage for the electrochemical cell shown below was .450 V.

Pt(s)|Cd(NO₃)₂ (aq)(.0100M) || Cl^- (aq) | AgCl (s)| Ag(s)

The standard reduction potentials are

Cd²⁺+2e^---> Cd (s) E^o= -.402 V

AgCl+e^---> Ag(s) + Cl^-  E^o=.222V

Calcuate the concentration of Cl^- if the cell potential was determined to be 0.605 V

An electrochemical cell is composed of pure copper and pure lead electrodes immersed in solutions of their respective divalent ions. For a 0.7 M concentration of Cu²⁺, the lead electrode is oxidized yielding a cell potential of 0.520 V. Calculate the concentration of Pb²⁺ ions if the temperature is 25˚C. The standard potentials for Cu and Pb are +0.340 V and -0.126 V.

Please show your work!

A new machine is purchased by a business for $200,000. For tax reasons, we assume the machine will lose $40,000 in value each year. If t is the number of years since the machine was purchased, and if V (t) represents the value of the machine after t years, write an equation in the form V (t)=mt+b for the value of the machine. Determine the domain and range for the function V (t).

Use the following half-reactions to write three spontaneous reactions, and calculate E cell for each reaction:

a. Au⁺ (aq) + e^- ----> Au (s) E= 1.69 V

b. N₂O (g) + 2H⁺ (aq) + 2 e^- ----> N₂ (g) + H2O (l) E= 1.77 V

c. Cr³⁺ (aq) + 3e^- ---> Cr (s) E= -0.74 V

A voltaic cell consists of Cu²⁺/Cu and Cd²⁺/Cd half-cells. Each compartment has a volume of 0.500 L with the following initial concentrations: [Cu²⁺] = 1.250 M; [Cd²⁺] = 0.250 M at 25°C. What is the [Cu²⁺] when the voltage has dropped to 0.719 V? (E⁰ for Cu²⁺/Cu = 0.340 V and E⁰ for Cd²⁺/Cd = -0.400 V.)

a bullet of mass m and speed v is fired at an initially stationary sphere. The bullet goes through the sphere, and exits with a speed of v/3. The sphere is attached to a rigid pole of length L and negligible mass. What is the minimum value of v such that the sphere will barely swing through a complete vertical circle? (Use the following as necessary: m, L, g, and M for the mass of the sphere.)