Problem 2-44A

Tombert Company is a manufacturer of computers. Its controller resigned in October 2016. An inexperienced assistant accountant has prepared the following income statement for the month of October 2016.

Prior to October 2016, the company had been profitable every month. The company’s president is concerned about the accuracy of the income statement. As his friend, he has asked you to review the income statement and make necessary corrections. After examining other manufacturing cost data, you have acquired the following additional information.

1. Inventory balances at the beginning and end of October were as follows:

2. Only 80% of the utilities expense and 51% of the insurance expense apply to factory operations. The remaining amounts should be charged to selling and administrative activities.

Calculate the following:

1. Prepare a schedule of the cost of goods manufactured for October 2016. (Round answers to 0 decimal places, e.g. 125.)

2.

Prepare a correct income statement for October 2016. (Round answers to 0 decimal places, e.g. 125. Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).)

The long-term liabilities section of CPS Transportation’s December 31, 2015, balance sheet included the following:

a.  A lease liability with 15 remaining lease payments of $10,000 each, due annually on January 1:

The incremental borrowing rate at the inception of the lease was 11% and the lessor’s implicit rate, which was known by CPS Transportation, was 10%.

b.  A deferred income tax liability due to a single temporary difference. The only difference between CPS Transportation’s taxable income and pretax accounting income is depreciation on a machine acquired on January 1, 2015, for $500,000. The machine’s estimated useful life is five years, with no salvage value. Depreciation is computed using the straight-line method for financial reporting purposes and the MACRS method for tax purposes. Depreciation expense for tax and financial reporting purposes for 2016 through 2019 is as follows:

The enacted federal income tax rates are 35% for 2015 and 40% for 2016 through 2019. For the year ended December 31, 2016, CPS’s income before income taxes was $900,000.

On July 1, 2016, CPS Transportation issued $800,000 of 9% bonds. The bonds mature in 20 years and interest is payable each January 1 and July 1. The bonds were issued at a price to yield the investors 10%. CPS records interest at the effective interest rate.

Required:

1.  Determine CPS Transportation’s income tax expense and net income for the year ended December 31, 2016.

2.  Determine CPS Transportation’s interest expense for the year ended December 31, 2016.

3.  Prepare the long-term liabilities section of CPS Transportation’s December 31, 2016, balance sheet.

Requirements (Part one):Prepare an income statement for Petunia's Posies​, a​ merchandiser, for the year ended December​ 31, 2016.

Part One​: In 2015​, Petunia Conway opened Petunia's Posies​, a small retail shop selling floral arrangements

On December​ 31, 2016​, her accounting records show the​ following:

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Requirements (Part two):

Part Two​: Petunia's Posies was so successful that Petunia decided to manufacture her own brand of floral​ supplies: Floral Mart Manufacturing.

At the end of December 2017​, her accounting records show the​following:

Part​ Three: Show the ending inventories that would appear on these balance​ sheets:

In Python And Use List comprehension to solve this question

Given a file like this:

Blake 4

Bolt 1

De Grasse 3

Gatlin 2

Simbine 5

Youssef Meite 6

Your program when completed should produce output like this:

>>>

In the 2016 100 yard dash the top finishers were:

Blake

Bolt

De Grasse

Gatlin

Simbine

Youssef Meite

The people with a two part name are: ['De Grasse', 'Youssef Meite']

The top three finishers were: ['Bolt', 'De Grasse', 'Gatlin']

Your mission will be to do the following:

1. Develop algorithms to solve all remaining steps in this problem.

2. Use a list comprehension to load the data from a file named “runners.txt”.

3. Use the information read in from the file to print out the names of the top 6 finishers formatted as shown in the example above.

4. Use a list comprehension to create a list of the names that have two parts to them.

5. Use a list comprehension to create a list of the people who finished in the top the positions.

4. For the Japanese wind lens turbine, the effect of the shroud is to reduce the downstream pressure, e.g., in the rotor wake, say by ?P. Show by modifying the Betz limit, how power production can actually be greater than the Betz limit. Your power production should be a function of a = v4/V. Assume v4 and S4 are known. Get it as close as you can. In the process, recognize that the wind speed at the rotor plane and even in the wake region are greater than the measured wind speed in free stream. Consider the stream tube below. Follow the same methodology used to derive the Betz limit.

(i). Relate all mass flows at each section to the downstream mass flow rate at section 4.

(ii). Apply conservation of mass to relate section areas to S4.

(iii). Apply conservation of linear momentum applied to and Bernouli’s equation to calculate the drag force, D, across the rotor plan.

(iv). Equate these expressions for Drag.

(v). Use conservation of energy to estimate power production as a function of a = v¬4 / V.

Please answer the following questions about the pictured circuit.

A circuit with two batteries, and two loops (three loops if you count the outer loop). The central section has resistor of 5-ohms. The left loop has a 10-V battery with its positive terminal facing up and 5-ohm resistor. The right loop has a 15_V battery with its positive terminal facing down and the third 5-ohm resistor. The current through the 15.0-V battery is I15 = 8 3 A = 2.667 A. What is the current (magnitude and direction) through the 10.0-V battery? (Please enter your numerical answer in decimal form; WebAssign will not accept a fraction.) I10 =__________ A, up/down

through the 10.0-V battery What is the current (magnitude and direction) through the central 5.00-Ω resistor in the circuit (the 5.00-Ω resistor that runs vertically)? (Please enter your numerical answer in decimal form; WebAssign will not accept a fraction.)

I5 = ___________A, up/down through the central 5.00-Ω resistor

Question: Business Law (Topic Consideration)

1.) In the landmark case, Hamer v. Sidway, what were the promises exchanged between the uncle and the nephew? Did the nephew live up to his promise? If so, why didn’t he receive anything from the uncle? What did the nephew give up in exchange for his uncle’s promise? According to the court, why was this sufficient? If this case were to occur today, would the outcome be the same? Why or why not?

2. Read the “You Be The Judge” section of the chapter (Kim v. Son). If you were the judge, how would you rule? Why? Explain.

3. In the Landmark Case, Alaska Packers’ Assoc. v. Domenico, why didn’t the court enforce the APA’s agreement to pay the workers double the original contract amount? What was the legal reason?

4. Briefly explain, what is an accord and satisfaction? In Henches v. Taylor, did Taylor’s check create an accord and satisfaction? Why or why not? What should Henches have done in this case if he didn’t want to create an accord and satisfaction?

1. Derive the expressions of the average load voltage and current in single-phase full-wave controlled rectifier (bridge rectifier) and resistive load. Draw the waveforms of supply voltage, output voltage, output current and thyristor current.   
2. In a single-phase full-wave controlled rectifier (bridge rectifier) and resistive load, it is desired to get an average load voltage of 50 V. Determine the firing angle if the ac supply voltage is 150 V. If the average load power is 300W, calculate the average load current and. Design the thyristor.
3. Derive the expressions of the average load voltage in single-phase full-wave controlled rectifier (bridge rectifier) and highly inductive load. Draw the waveforms of supply voltage, output voltage, output current and thyristor current.
4. In a single-phase full-wave controlled rectifier (bridge rectifier) and resistive load, it is desired to get an average load voltage of 90 V. Determine the firing angle if the ac supply voltage is 230 V. If the average load power is 270 W, calculate the load current and. Design the thyristor.      Please solve all questions

Diablo Company reported the following information for 2016 and 2017:

Prepaid insurance, 31 December 2016 $15 000

Prepaid insurance, 31 December 2017 10 500

Insurance expense—2017 $31 000

How much cash was paid for insurance during 2017?