On June 1, 2020, BlueSky Company provided services to GreenGrass Company and received a 1-year, 8%, $150,000 note, due May 31, 2021. Interest is payable at maturity. BlueSky records adjusting entries annually at December 31.

a. Compute the total interest on the note. How much interest revenue will be recognized in 2020? In 2021?

b. Record the June 1, 2020, journal entry for BlueSky.

c. Record the December 31, 2020, adjusting journal entry for BlueSky.

d. BlueSky’s 2020 preliminary net income of $100,000 was computed without including any amounts related to the receipt of the note or the 12-31-20 adjusting entry. Determine the correct amount of 2020 net income. Ignore taxes.

e. On BlueSky’s December 31, 2019, balance sheet, retained earnings was reported at $300,000. In 2020, the company paid $40,000 in dividends. What is the December 31, 2020, retained earnings balance?

f. What amount(s) will BlueSky report on the December 31, 2020, balance sheet related to the note? How will these amounts be classified?

e. Record the May 31, 2021, journal entry for BlueSky for the receipt of principal and interest.

Monty Company sponsors a defined benefit pension plan. The corporation’s actuary provides the following information about the plan.

(a) Compute the actual return on the plan assets in 2020.

(b) Compute the amount of the other comprehensive income (G/L) as of December 31, 2020. (Assume the January 1, 2020, balance was zero.) (Enter loss using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).)

(c) Compute the amount of net gain or loss amortization for 2020 (corridor approach).

(d) Compute pension expense for 2020.

Pacifica Papers Inc. needed to conserve cash, so instead of a cash dividend, the board of directors declared a 10% common share dividend on June 30, 2020, distributable on July 15, 2020. Because performance during 2020 was better than expected, the company’s board of directors declared a $1.20 per share cash dividend on November 15, 2020, payable on December 1, 2020, to shareholders of record on November 30, 2020. The equity section of Pacifica’s December 31, 2019, balance sheet showed:

Required:
1. Journalize the declaration of the share dividend. The market prices of the shares were $17.90 on June 30, 2020, and $19.80 on July 15, 2020. Assume share dividends account is used when dividends are declared.

2.Journalize the declaration of the cash dividend. Assume share dividends account is used when dividends are declared.

3. Prepare the equity section of the balance sheet at December 31, 2020, assuming profit earned during the year was $3,389,000.

20. Most of the early trade unions attempted to negotiate _______ agreements with employers. A. closed-shop B. open-shop C. craft-internship D. union-shop

1:            Is PID control used in Feed Forward or Feed Back control?

2:            Explain how Open Loop Tuning differs from Closed Loop Tuning.

At a certain temperature, the Kp for the decomposition of H2S is 0.721.

Initially, only H2S is present at a pressure of 0.256 atm in a closed container. What is the total pressure in the container at equilibrium?

a) Prove that an isolated point of set A is a boundary point of A (where A is a subset of real numbers).

b) Prove that a set is closed if and only if it contains all its boundary points

1.   Draw and carefully and thoroughly label a block diagram of an “open loop” control system.

2. Draw and carefully and thoroughly   label a block diagram of a  “closed loop” control system.

For TFP to be the primary cause of business cycles, what must hold with respect to substitution and income effects for leisure? Explain in the context of 1-period, closed economy model.