Specific competition strategies for V energy
In: Operations Management
Comprehensive
Information concerning Kinson Corporation's intangible assets is as follows:
On January 1, 2016, Kinson signed an agreement to operate as a franchisee of Rapid Copy Service Inc. for an initial franchise fee of $96,000. Of this amount, $24,000 was paid when the agreement was signed, and the balance is payable in 4 annual payments of $18,000 each beginning January 1, 2017. The agreement provides that the down payment is not refundable and no future services are required of the franchisor. The present value at January 2, 2016, of the 4 annual payments discounted at 14% (the implicit rate for a loan of this type) is $52,400. The agreement also provides that 5% of the revenue from the franchise must be paid to the franchisor annually. Kinson's revenue from the franchise for 2016 was $920,000. Kinson estimates the useful life of the franchise to be 10 years.
Kinson incurred $68,000 of experimental and development costs in its laboratory to develop a patent, which was granted on January 2, 2016. Legal fees and other costs associated with registration of the patent totaled $15,120. Kinson estimates that the useful life of the patent will be 10 years.
A trademark was purchased from Walton Company for $30,000 on July 1, 2013. Expenditures for successful litigation in defense of the trademark totaling $8,500 were paid on July 1, 2016. Kinson estimates that the useful life of the trademark will be 25 years from the date of acquisition.
Required:
1. Prepare a schedule showing the intangible assets section of Kinson's balance sheet at December 31, 2016. Round final answers to the nearest dollar.
| Kinson Corporation | |
| Intangible Assets Section of Balance Sheet | |
| December 31, 2016 | |
| Franchise from Rapid Copy Service, Inc., net (Schedule 1) | $ |
| Patent, net (Schedule 2) | |
| Trademark, net (Schedule 3) | |
| Total intangible assets | $ |
Schedule 1: Show supporting computations for the franchise.
| Computation of Franchise from Rapid Copy Service, Inc. | |
| Schedule 1 | |
| Cost of franchise at January 1, 2016 | $ |
| Amortization of franchise for 2016 | |
| Franchise balance, December 31, 2016 | $ |
Schedule 2: Show supporting computations for the patent.
| Computation of Patent | |
| Schedule 2 | |
| Capitalized cost of patent at January 2, 2016 | $ |
| Amortization of patent for 2016 | |
| Patent balance, December 31, 2016 | $ |
Schedule 3: Show supporting computations for the trademark. Round computations and final answers to the nearest dollar.
| Computation of Trademark | |
| Schedule 3 | |
| Cost of trademark at July 1, 2013 | $ |
| Amortization through December 31, 2015 | |
| Amortization for period January 1 - June 30, 2016 | |
| Cost of successful litigation in defense of trademark, July 1, 2016 | |
| Balance, July 1, 2016 | $ |
| Amortization for period July 1 - December 31, 2016 | |
| Balance, December 31, 2016 | $ |
2. Prepare a schedule showing all expenses resulting from the transactions that would appear on Kinson's income statement for the year ended December 31, 2016. Enter all amounts as positive numbers.
| Kinson Corporation | |
| Expenses Resulting from Intangible Assets Transactions | |
| For the Year Ended December 31, 2016 | |
| Franchise from Rapid Copy Service, Inc. | |
| Amortization of franchise (Schedule 1) | $ |
| Franchise fee on revenues from operations | |
| Imputed interest expense on unpaid balance of initial franchise fee | |
| Amortization of patent (Schedule 2) | |
| Amortization of trademark (from Schedule 3) | |
| Total expenses | $ |
In: Accounting
Fancy Company is a wholesaler distributor of automotive replacement parts. Initial amounts taken from accounting records on December 31, 2016 are as follows: Inventory on December 31, based on physical count, P1,250,000; accounts payable, P1,000,000; sales, P9,000,000.Parts held on consignment from another company to Fancy, the consignee, amounting to P165,000 were included in the physical count on December 31, 2016, and in accounts payable on December 31, 2016.P20,000 of parts which were purchased and paid for in December 2016, were sold in the last week of 22016 and appropriately recorded as sales of P28,000. The parts were included in the physical count on December 31, 2016 because the parts were on the loading dock waiting to be picked up by the customers Parts in transit on December 31, 2016 to customers shipped FOB shipping point on December 28 2016 amounted to P34,000. The customer received the parts on January 6, 2017. Sales of P40,000 to customers for the parts were recorded by Fancy on January 2, 2017Retailers were holding P210,000 at cost and P250,000 at retail of goods on consignment from Fancy Company on December 31, 2016Goods were in transit from a vendor to Fancy Company on December 31, 2016. The cost of goods was P25,000. The goods were shipped FOB shipping point on December 31, 2016.What is the correct amount of inventory?
In: Accounting
The New York city that has a 12/31 fiscal year end has adopted a policy of recognizing property tax revenue consistent with the 60-day rule allowable period under GAAP. Property taxes of $600,000 (of which none are estimated to be uncollectible) are levied in October 2016 to finance the activities of fiscal year 2017. Property taxes are due in two installments June 20 and December 20. Cash collections related to property taxes are as follows:
2/15/17 for property taxes levied in 2015, due in 2016 $ 25,000
3/15/17 for property taxes levied in 2015, due in 2016 $ 15,000
4/15/17 for property taxes levied in 2015, due in 2016 $ 10,000
6/20/17 First installment of taxes levied in 2016, due 6/20/17 $350,000
12/20/17 Second installment of taxes levied in 2016, due 12/20/17 $150,000
1/15/18 for property taxes levied in 2016, due in 2017 $ 15,000
3/15/18 for property taxes levied in 2016, due in 2017 $ 10,000
4/15/18 for property taxes levied in 2016, due in 2017 $ 5,000
. The total amount of property tax revenue that should be recognized in the governmental fund financial statements in 2017 is:
|
$600,000 |
||
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$575,000 |
||
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$540,000 |
||
|
$535,000 |
In: Accounting
|
On March 31, 2016, Canseco Plumbing Fixtures purchased equipment for $66,000. Residual value at the end of an estimated four-year service life is expected to be $6,000. The company expects the machine to operate for 15,000 hours. |
| a. |
Calculate depreciation expense for 2016 and 2017 using straight line method.
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| b. |
Calculate depreciation expense for 2016 and 2017 using sum-of-the-years’-digits method.
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| c. |
Calculate depreciation expense for 2016 and 2017 using double-declining balance method.
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In: Accounting
South Sea Baubles has the following (incomplete) balance sheet and income statement.
| BALANCE SHEET AT END OF YEAR | ||||||||||||||
| (Figures in $ millions) | ||||||||||||||
| Assets | 2015 | 2016 | Liabilities and Shareholders' Equity | 2015 | 2016 | |||||||||
| Current assets | $ | 90 | $ | 140 | Current liabilities | $ | 50 | $ | 60 | |||||
| Net fixed assets | 800 | 900 | Long-term debt | 600 | 750 | |||||||||
| INCOME STATEMENT, 2016 | |||
| (Figures in $ millions) | |||
| Revenue | $ | 1,950 | |
| Cost of goods sold | 1,030 | ||
| Depreciation | 350 | ||
| Interest expense | 240 | ||
a&b. What is shareholders’ equity in 2015 and 2016? (Enter your answers in millions.)
c&d. What is net working capital in 2015 and 2016? (Enter your answers in millions.)
e. What are taxes paid in 2016? Assume the firm pays taxes equal to 35% of taxable income. (Do not round intermediate calculations. Enter your answer in millions rounded to 2 decimal places.)
f. What is cash provided by operations during 2016? (Do not round intermediate calculations. Enter your answer in millions rounded to 2 decimal places.)
g. Net fixed assets increased from $800 million to $900 million during 2016. What must have been South Sea’s grossinvestment in fixed assets during 2016? (Enter your answer in millions.)
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In: Accounting
Problem 3-6 Financial Statements (LO1,4)
South Sea Baubles has the following (incomplete) balance sheet and income statement.
| BALANCE SHEET AT END OF YEAR | ||||||||||||||
| (Figures in $ millions) | ||||||||||||||
| Assets | 2015 | 2016 | Liabilities and Shareholders' Equity | 2015 | 2016 | |||||||||
| Current assets | $ | 100 | $ | 190 | Current liabilities | $ | 70 | $ | 90 | |||||
| Net fixed assets | 900 | 1,000 | Long-term debt | 650 | 850 | |||||||||
| INCOME STATEMENT, 2016 | |||
| (Figures in $ millions) | |||
| Revenue | $ | 2,000 | |
| Cost of goods sold | 1,080 | ||
| Depreciation | 400 | ||
| Interest expense | 250 | ||
a&b. What is shareholders’ equity in 2015 and 2016? (Enter your answers in millions.)
c&d. What is net working capital in 2015 and 2016? (Enter your answers in millions.)
e. What are taxes paid in 2016? Assume the firm pays taxes equal to 35% of taxable income. (Do not round intermediate calculations. Enter your answer in millions rounded to 2 decimal places.)
f. What is cash provided by operations during 2016? (Do not round intermediate calculations. Enter your answer in millions rounded to 2 decimal places.)
g. Net fixed assets increased from $900 million to $1,000 million during 2016. What must have been South Sea’s gross investment in fixed assets during 2016? (Enter your answer in millions.)
In: Finance
Decoding the Ethics Code: A Practical Guide for Psychologists (3rd Edition), Author Celia B Fisher
Case 4. Research on Intimate Partner Violence and the Duty to Protect
Dr. Daniela Yeung, a community psychologist, has been conducting a federally funded ethnographic study of men’s attitudes toward intimate partner violence following conviction and release from prison for spousal abuse. Over the course of a year, she has had individual monthly interviews with 25 participants while they were in jail and following their release. Aiden, a 35-year-old male parolee convicted of seriously injur-ing his wife, has been interviewed by Dr. Yeung on eight occasions. The interviews have covered a range of personal topics including Aiden’s problem drinking, which is marked by blackouts and threatening phone calls made to his parents and girlfriend when he becomes drunk, usually in the evening. To her knowledge, Aiden has never followed through on these threats. It is clear that Aiden feels very comfortable discuss-ing his life with Dr. Yeung. One evening Dr. Yeung checks her answering machine and finds a message from Aiden. His words are slurred and angry: “Now that you know the truth about what I am you know that there is nothing you can do to help the evil inside me. The bottle is my savior and I will end this with them tonight.” Each time she calls Aiden’s home phone she gets a busy signal.
Ethical Dilemma
Dr. Yeung has Aiden’s address, and after 2 hours, she is considering whether or not to contact emergency services to go to Aiden’s home or to the homes of his parents and girlfriend.
Discussion Questions
1. Why is this an ethical dilemma? Which APA Ethical Principles help frame the nature of the dilemma? 2. Who are the stakeholders and how will they be affected by how Dr. Yeung resolves this dilemma? 3. Does this situation meet the standards set by the Tarasoff decision’s “duty to protect” statute (see Chapter 7)? How might whether or not Dr. Yeung’s state includes researchers under such a statute influence Dr. Yeung’s ethical decision making? How might the fact that Dr. Yeung is a research psychologist without training or licensure in clinical practice influence the ethical decision? 4. In addressing this dilemma, should Dr. Yeung consider how her decision may affect the completion of her research (e.g., the confidentiality concerns of other participants)? 5. How are APA Ethical Standards 2.01f, 3.04, 3.06, 4.01, 4.02, 4.05, and 8.01 relevant to this case? Which other standards might apply? 6. What are Dr. Yeung’s ethical alternatives for resolving this dilemma? Which alternative best reflects the Ethics Code aspirational principles and enforceable standards, legal standards, and obligations to stakeholders? Can you identify the ethical theory (discussed in Chapter 3) guiding your decision? 7. What steps should Dr. Yeung take to implement her decision and monitor its effect?
In: Psychology
1.
a)What does the author feels is music? What do you considered to be music?
b)How does surround sound work?
c)Does it depend where you are in a room for surround sound to work?
d)Why can a sub-woofer be placed almost anywhere in a room?
e)What is binaural sound? On what classic album did Pink Floyd use extensive use of binaural sound effects to put” The Lunatic inside your head?”
f)How does bone conduction allow sound to be heard?
g)What is a cochlear implant? What “Culture” was changed because of it, and what is Audism?
2.
a)You have a grandfather clock you have inherited. It currently is not working.
b)You check that the clock is working, and your push the pendulum to start the clock and hear the distinctive tick tock as it swings back and forth. Yet when you come back a half hour later, the pendulum is not moving. What reason could you give for this and how could you fix them?
c) What is Oscillation, and how can that be used to keep time?
d)How are a tuning fork and a quartz stone similar?
3
a. How does Static Friction work in Velcro?
b. How Sliding Friction work in Velcro?
4.
a) How does a moving wheel have both translational and rotational movement?
b) How does an automatic transmission sense when to change gears? How is this determined in a manual transmission vehicle?
c) If you forget to put the lug nuts on a tire and the tire comes off, what does gyroscopic rotation make the tire do?
d) Why would a moving car continue to drive if it lost a wheel?
e) Why do some vehicles have locking hubs to engage 4 wheel drive?
5. You’re a pilot for the Navy. For your airplane to be able to lift itself off the ground, it must be traveling forward with a speed of 208 km/h (130 mph).
a) The force exerted by the jet engine on the airplane causes it to accelerate down the runway. How long must the runway be for the airplane to reach its takeoff speed if the jet accelerates at a rate of 2 mile per second?
b) How does a helicopter fly that allows it to land in a smaller space then a jet?
c) Why do aircraft carriers use more jets than helicopter?
d) What is a sonic boom, and what causes it?
In: Physics