Main questions. Attempt all questions, each one carry 12 marks.

Question: 1

Assume that the following facts pertain to a non-cancelable lease agreement between Coco Inc. and Bubs, Corp, a Lessee.

The lessee assumes responsibility for all executory costs, which are expected to amount to $2,000 per year. The asset will revert to the lessor at the end of the lease term. The lessee uses the straight-line depreciation method for all equipment.

Using the spreadsheet, Lease Amort Schedule found in the link below, prepare an amortization schedule that would be suitable for the lessee for the lease term.

Using the spreadsheet Journal Entries, prepare the journal entries for the lessee for 2017 and 2018 to record the lease agreement and all expenses related to the lease. Assume the Lessee’s annual accounting period ends on December 31 and that reversing entries are used when appropriate.

Use the following information to answer Part (a) and (b)

Charlie, a single taxpayer, has gross income of $115,000.

He has following expenses for 2019:

- Rent for his apartment: $14,400

- Advertising and maintenance expenses for a rental property he owns in the amount of $1,800.

- Moving expenses to change jobs (assume Tyler is not reimbursed for his expenses) :

- Cost to move furniture and home furnishings: $3,600

- House-hunting expenses: $800

- Tyler traveled 200 miles to his new residence in his personal vehicle.

- Groceries and utility expenses: $5,500

- Traditional IRA contributions: $2,500

- Alimony payments made to his ex-wife in the amount of $2,500. The divorce decree was executed on February 14, 2018.

- A property settlement paid to his ex-wife in the amount of $3,000.

Part (a)

What is Charlie's adjusted gross income (AGI) for 2019?

A. $107,700

B. $110,700

C. $108,200

D. $113,200

Part (b)

Which of the following expenses are non-deductible?

A. Rent

B. Moving Expenses

C. Groceries and Utilities

D. Property settlement

E. All of the above

6.2.6

Hap Company’s records indicated the following account balances at December 31, 2018:

Retained earnings                                                                                                            $420,000

Unrealized increased in fair value of available for sale securities                  19,000

Paid-in capital in excess of par on preferred stock                                             50,000

Paid-in capital in excess of par on common stock                                               100,000

Paid-in capital in excess of par from stock options (common)                       10,000

Paid-in capital in excess of par from treasury stock                                            8,000

Common stock ($1 par value)                                                                                     10,000

Preferred stock ($20 par value)                                                                                  20,000

Treasury Stock – Common (at Cost)                                                                          7,000

Other information:

Common stock has 100,000 shares authorized, 10,000shares issued & outstanding. Preferred stock pays a 10% dividend, is on non-cumulative on callable at $100 per share and has 10,000 shares authorized, 1,000 shares issued & outstanding. Hap has reacquired & holds 100 shares of its own common stock (treasury)

Required: prepare the stockholder’s equity section of the balance sheet for hap -in proper form, including appropriate parenthetical disclosure & subtotal

(b)    State and explain the Schulze-Hardy rules as they relate to the stability of colloids. Include in your answer a brief explanation of the empirical “sixth-power rule”.

(c)     The critical coagulation concentration (ccc) for the unknown colloidal sols X and Y are given below:

                                                                  X / mmol dm^-3                   Y / mmol dm^-3

                     NaCl                                               59.4                                      88.3

                     MgCl₂                                        0.95                                      44.6                   

(i)     From the ccc values above determine the charge on each colloidal sol X

         and Y, accounting clearly for your choice.

(ii)    Estimate the ccc values one might expect if AlCl₃ was the inert electrolyte added.

Q.-- A 1.0000 g sample of zinc metal is added to a solution containing 1.2500 g of an unknown compound of bismuth and chlorine. The reaction results in the formation of zinc chloride and metallic bismuth. When the reaction is complete, unreacted zinc remains, and this unreacted zinc is consumed by reaction with HCl. After washing and drying, the mass of bismuth metal recovered is 0.6763g

-- Calculate the experimental % of bismuth in the original unknown compound

-- If 2.300g of the unknown bismuth chloride had been used, how many grams of chlorine would you expect it to contain?

-- Determine the empirical formula of the original unknown compound

Explain generally the development of the modern picture of the atom – include the contributions from Dalton’s atomic theory, Nuclear Theory, the empirical data from the Balmer-Rydberg equation, the Bohr Model, and quantum mechanics.

Give an overview of quantum mechanics. Include the concepts of the wave function and each of the four quantum numbers.

Explain how polarity and dipole moment relate to the concept of the intermolecular attractions in substances. Compare and contrast attractive forces of hydrogen bonding, dipole-dipole interactions, and London dispersion forces. Your answer should be more in depth than just defining the three terms.

Answer the questions completely with complete calculations.

1. what is the oxidation number of elements in BrO2-, BrO3- & BrO4-, Br2, Br-?

2. In the reaction 4 NH3 (g) + 5 O2 (g) --> 4 NO (g) + 6 H2O (l)

750 g NH3 is mixed with 750 g of O2.

a. what is the amount of NO produced in this reaction?

b. Which is the limiting reagent?

c. How much of the excess reagent remains?

d. The actual yield of NO obtained was 400g. What is the % yield of NO?

3. A compound of 49.4% K, 20.3% S, and 30.3% O by mass. What is the empirical formula of the compound?

a) Is it appropriate to reject a Since normative theory prescriptions could not be confirmed through empirical observations, is it appropriate to reject it?•b)Why are financial accounting standards considered to be the outcome of a political process? Why is the process ‘political’? •c) How is a decision by a government regulator that all companies must separately disclose, in their annual financial reports, the amount of expense incurred in relation to the training of employees and that the companies must also spend at 5% of their reported profits on training employees related to the Public Interest Theory? •d) Explain the decision made by the government regulator in (c) above in terms of the Economic Interest Group Theory of regulation.