A hydrogen-rich gas stream contains 1.0 mole % carbon monoxide. It is desired to use a microporous ceramic membrane for separating carbon monoxide (CO) from hydrogen gas at a pressure of 1 atm and a temperature of 400C. The average pore diameter of the membrane is 15 nm and the void fraction is 0.30.

a) Estimate the molecular diffusivity of CO in a mixture with H2

b) Determine the Knudsen diffusion coefficient and the effective diffusion coefficient for CO in the membrane

Which of the following is true? a. During the contractionary phase of the business cycle, the rate of unemployment is generally quite low b. A depression is a recession that is mild and relatively brief c. The stages of a business cycle are contraction, recession, expansion, boom d. GDP includes spending on recreation and travel, but it does not cover leisure time

Tonight, you and your friends are planning to see Captain America for which you have a $3 off coupon. Without the coupon, the ticket is $10. Once you are at the cinema, your friends now want to see Black Panther. Both movies start and end at the same time. Assume that you have nothing else to do. If you decide to see Black Panther with your friends, what is your opportunity cost?

a. the value of seeing Captain America + $3 b. $10 c. $3 d. the value of seeing Captain America + $10

Which of the following statements about GDP is not correct? a. Real GDP will increase when prices increase or output increases b. Nominal GDP equals real GDP in the base year c. Nominal GDP values production at current prices, whereas real GDP values production at constant prices d. The GDP deflator is the ratio of nominal GDP to real GDP multiplied by 100 Productive efficiency means that a. if all available resources are being used, it is possible to produce more products and services b. given the available inputs and technology, it is impossible to produce more of one good without decreasing the quantity that is produced of another good c. the particular mix of goods being produced represents the equal distribution of resources among different industries d. the particular mix of goods being produced represents the allocation that society most desires

Case Study

Eskom: our biggest threat

Eskom is by far the largest of South Africa’s many state owned companies. This near monopoly power utility is in crisis. It’s the single largest threat to South Africa’s economy, according to a former minister of finance. The Conversation Africa spoke to Adjunct Professor Rod Crompton about why this is the case and what can be done.

How is power generated and distributed in South Africa?

Electricity markets in most countries consist of three parts: generation, transmission and distribution. Most electricity is generated by using heat to boil water to create steam which in turn spins a turbine that generates electricity.

South Africa’s cheap and abundant coal resources made coal generated electricity an obvious choice for many years. Initially, power stations were owned by municipalities and large mining and industrial concerns. But as the costs of recapitalisation emerged, government was persuaded to take over responsibility for power.

Eskom is among the biggest power utilities in the world, famous for its ability to handle vast tonnages of low grade coal. Eskom accounts for over 90% of power generating capacity. Its power plants are mostly coal with one nuclear station and some pumped storage (water). Only a few minor power generators have remained outside Eskom’s fold.

More recently, international climate change pressure caused government to introduce renewable power generation through bidding rounds. These private investors were given 20 year price guarantees underwritten by government – some at exorbitant prices. Nevertheless, as these technologies became more globally popular, some of them – solar (photo voltaic) and wind power – emerged as the lowest cost generators.

All power generation is tied into Eskom’s national transmission grid that moves electricity from generation stations to demand areas. Transmission is a natural monopoly. If you want to use the transmission grid you need Eskom’s permission. Transmission lines end where high voltage power is stepped down to distribution networks until it reaches residential customers – at 220 volts. In many areas Eskom sells to municipal distributors.

So, Eskom is a vertically integrated near monopoly responsible for generation, transmission and distribution. In many countries competition between power generators has been encouraged to drive down prices. Transmission, being a natural monopoly, remains just that; but like toll roads they are open to all who obey the "road rules" and pay the toll. The same goes for distribution to a lesser extent.

Source: https://www.wits.ac.za/news/latest-news/opinion/2019/2019-02/eskom-our-biggest-threat.html SS

QUESTION 1

Apply the information in the article provided above, together with your knowledge of various market structures, to explain the market structure of Eskom in South Africa.

Chapter 24-Problems

1. PR.24-02.ALGO
2. PR.24-03.ALGO

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   Profit Center Responsibility Reporting for a Service Company

   Thomas Railroad Company organizes its three divisions, the North (N), South (S), and West (W) regions, as profit centers. The chief executive officer (CEO) evaluates divisional performance using income from operations as a percent of revenues. The following quarterly income and expense accounts were provided from the trial balance as of December 31:

   Revenues—N Region	$868,700
   Revenues—S Region	1,063,800
   Revenues—W Region	1,840,300
   Operating Expenses—N Region	550,500
   Operating Expenses—S Region	633,100
   Operating Expenses—W Region	1,112,900
   Corporate Expenses—Dispatching	424,800
   Corporate Expenses—Equipment Management	223,600
   Corporate Expenses—Treasurer’s	132,100
   General Corporate Officers’ Salaries	291,800

   The company operates three service departments: the Dispatching Department, the Equipment Management Department, and the Treasurer’s Department. The Treasurer’s Department and general corporate officers’ salaries are not controllable by division management. The Dispatching Department manages the scheduling and releasing of completed trains. The Equipment Management Department manages the inventories of railroad cars. It makes sure the right freight cars are at the right place at the right time. The Treasurer’s Department conducts a variety of services for the company as a whole. The following additional information has been gathered:

   	North		South		West
   Number of scheduled trains	4,400		5,300		8,000
   Number of railroad cars in inventory	1,300		2,100		1,800

   Required:

   1. Prepare quarterly income statements showing income from operations for the three regions. Use three column headings: North, South, and West. Do not round your interim calculations.

   Thomas Railroad Company
   Divisional Income Statements
   For the Quarter Ended December 31
   	North	South	West
   Revenues	$	$	$
   Operating expenses
   Income from operations before service department charges	$	$	$
   Less service department charges:
   Dispatching	$	$	$
   Equipment Management
   Total service department charges	$	$	$
   Income from operations	$	$	$

   2. What is the profit margin of each division? Round to one decimal place.

   Region	Profit Margin
   North Region	%
   South Region	%
   West Region	%

   Identify the most successful region according to the profit margin.
   

   3. What would you include in a recommendation to the CEO for a better method for evaluating the performance of the divisions?

   1. The method used to evaluate the performance of the divisions should be reevaluated.
   2. A better divisional performance measure would be the rate of return on investment (income from operations divided by divisional assets).
   3. A better divisional performance measure would be the residual income (income from operations less a minimal return on divisional assets).
   4. None of these choices would be included.
   5. All of these choices (a, b & c) would be included.

The force constant for CO is 1860 N/m-1. determine the value of the zero point energy of CO in Joules/molecule and kJ/mole. Show why the answer is 12.84 kJ/mole

Enter the following balances in a general ledger format as of December 1.
11-cash $161,800. 12- Accounts Receivable 12,940. 14- Maintenance Supplies 10,850. 15- Office Supplies 4,900. 16- Office Equipment 28,500. 17- Accum.Depr-Office Equipment 6,900. 18-Vehicles 95,000. 19- Accum.Depr.-Vehicles14,700. 21-Accounts Payable 3,920. 31- S.Holmes Capital 289,250.
32- S.Holmes, Drawing _ 41- Fees Earned _ 51- Drivers Salaries expense_ 52- Maintenance Supplies Exp. _ 53- Fuel Expense_ 53- Office Salaries Expense_ 62- Rent Expense _ 63- Advertising Expense_ 64- Micellaneous Administrative Expense_
Question 1- Journalize the transactions for December using Cash receipts journal,Purchases journal, with colums for Accounts Payable,Maintenance Supplies,Office Supplies and other Accounts.
Single-colum revenue journal,cash payments journal and two-colum general journal.Assume that the daily postings to individual accounts in the accounts payable subsidiary ledger and the accounts receivable subsidiary ledger have been made.
Question 2- Post the appropriate individual entries to the general ledger.
Question -4 Total each of the colums of special journals and post the appropriate totals to the general ledger; insert the account balances.
Question -3 Prepare a trial balance.

The transactions completed by Revere Courier Company during December, the first month of the fiscal year, were as follows.
Dec 1- Issued Check No. 610 for December rent, $4,200. 2- Issued Invoice No.940 to Clifford Co. $1,740. 3- Received check for $4,800 from Ryan Co. in payment of account.
5- Purchased a vehicle on account from Platinum Motors, $37,300. 6- Purcased office equipment on account from Austin Computer Co. , $4,500. 6- Issued Invoice No. 941 to Ernesto Co., $3,870. 9- Issued Check No. 611 for fuel expense. $600. 10- Received check from Sing Co. in payment of $4,040 invoice.
10- Issued Check No.612 for $330 to Office To Go Inc. in payment of invoice. 10- Issued Invoice No.942 to Joy Co., $1,970. 11- Issued Check No. 613 for $3,090 to Essential Supply Co. in payment of account. 11- Issued Check No.614 for $500 to Porter Co. in payment of account. 12- Received check from Clifford Co. in payment of $1,740 invoice of December 2.
13- Issued Check No. 615 to Platinum Motors in payment of $37,300 balance of December 5
16- Issued Check No. 616 for $39,800 for cash purchase of a vehicle. 16- Cash fees earned for December 1-16, $20,300. 17- Issued Check No. 617 for miscellaneous administrative expense, $500. 18- Purchased maintenance supplies on account from Essentials Supply Co., $1,750. 19- Purchased the following on account from McClain Co,: maintenance supplies, $1,500; office supplies, $375. 20- Issued Check No. 618 in payment of advertising expense, $1,780. 20- Used $3,200 maintenance supplies to repair delivery vehicles. 23- Purchased office supplies on account from Office To Go Inc, $400. 24- Issued Invioce No. 943 to Sing Co. $6,100. 24- Issued Check No. 619 to S. Holmes as personal withdrawal, $3,000. 25- Issued Invoice No. 944 to Ernesto Co. $5,530. 25- Received Check for $4,100 from Ryan Co. in payment of balance. 26- Issued check No.620 to Austin Computer Co. in payment of $4,500 invoice of December 6. 30- Issued check No.621 for monthly salaries as follows: drivers salaries, $16,900; office salaries,$7,100.
Dec-31.Cash fees earned for December 17-31, $18,900. 31- Issued Check No. 622 in payment for office supplies, $340.

The transactions completed by Revere Courier Company during December,the first month of the fiscal year, were as follows.
Dec 1. Issued Check No.610 for December rent, $4,200.
Dec 2. Issued Invoice No.940 to Clifford Co. $1,740.
Dec 3 Received check for $4,800 from Ryan Co. in payment of account.
Dec 5. Purchased a vehicle on account from Platinum Motors, for $37,300.
Dec 6. Purchased office equipment on account from Austin Computer Co.$4,500.
Dec 6. Issued Invoice No. 941 to Ernesto Co.$3,870.
Dec 9. Issued Check No.611 for fuel expense, $600.
Dec 10. Received Check from Sing Co. in payment of $4,040 invoice.
Dec 10. Issued Check No.612 for $330 to Office To Go Inc in payment of invoice.
Dec 10. Issued Invoice No. 942 to Joy Co. $1,970.
Dec 11. Issued Check No. 613 for $3,090 to Essential Supplies Co. in payment of account.
Dec 11. Issued Issued No.614 for $500 to Porter Co. in payment of account.
Dec 12. Received Check from Clifford Co. in payment of $1,740 invoice of December 2.
Dec 13. Issued Check No.615 to Platinum Motors in payment of $37,300 balance of December 5.
Dec 16. Issued Check No.616 for $39,800 for cash purchase of a vehicle.
Dec 16. Cash fees earned for December 1-16, $20,300.
Dec 17. Issued Check No.617 for miscellaneous administrative expense, $500.
Dec 18. Purchased maintenance supplies on account from Essentials Supply Co. $1,750.
Dec 19. Purchased the following on account from McClain Co.,: maintenance supplies, $1,500, office supplies, $375.
Dec 20. Issued Check No. 618 in payment of advertising expense, $1,780.
Dec 20. Used $3,200 maintenance supplies to repair delivery vehicles.
Dec 23. Purchased office supplies on account from Office to Go Inc, $400.
Dec 24. Issued Invoice No.943 to Sing Co., $6,100.
Dec 24. Issued Check No.619 to S. Holmes as a personal withdrawal, $3,000.
Dec 25. Issued Invoice No.944 to Ernesto Co. $5,530.
Dec 25. Received check for $4,100 from Ryan Co. in payment of balance.
Dec 26. Issued Check No. 620 to Austin Computers Co. in payment of $4,500 invoice of December 6.
Dec 30. Issued Check No. 621 for monthly salaries as follows: driver salaries, $16,900; office salaries, $7,100.
Dec 31. Cash fees earned for December 17-31, $18,900.
Dec 31. Issued Check No.622 in payment for office supplies, $340.

Question 1- Journalize the transactuons for December using Cash Receipts journal,with colums for Accounts Payable, Maintenance Supplies, Office Supplies and Other Accounts.
Single- Colum revenue journal,Cash payments journal and two colum general journal.
Assume that the daily postings to individual accounts in the accounts payable subsidiary Ledger and account receivable subsidiary Ledger have been made.
Question 2- Post the appropriate individual entries to the general Ledger.
Question 3 - Total each of the colums of special journals and post the appropriate totals to the general Ledger, insert the account balances.
Question 4- Preparr a trail balance .

It is​ April, and Hans Anderson is planting his barley crop near​ Plunkett, Saskatchewan. He is concerned about losing his farm if his operations result in a loss at the end of the season. He expects to harvest 3,000 tonnes of barley and sell it in October. Futures contracts are available for October delivery with a futures price of $200 per tonne. Options with strike price of $200 per tonne are also​ available; puts cost $16 and calls cost $18.

a.Describe how Hans can fully hedge using futures contracts.

b. Given the strategy in a​), what will be the total net amount received by Hans​ (for all 3,000 ​tonnes) if the price of barley in October is as​ follows:i .$150 per​ tonne; ii. $200 per​ tonne; iii. $250 per tonne

c. Describe how Hans can fully hedge using options.

d. Given the strategy in ​(c​), what will be the total net amount received by Hans​ (for all​ 3,000 tonnes) if the price of barley in October is as​ follows:i. $150 per​ tonne; ii. $200 per​ tonne; iii. $250 per tonne

e. Hans has asked for your advice regarding hedging. Discuss how the each of the following individually will influence your advice.

i. Hans does not expect to have much cash available between May and September.

ii. Hans thinks there is a 25​% chance his crop will be destroyed by hail before he has a chance to harvest it.

iii.​ Hans's farming business will go bankrupt if his net revenues in October do not cover his costs. He estimates his costs will be $600,000. If his business goes​ bankrupt, Hans's bank will foreclose and take his house and farm.

iv.​ Hans's farming business will go bankrupt if his net revenues in October do not cover his costs. He estimates his costs will be $800,000. If his business goes​ bankrupt, Hans's bank will foreclose and take his house and farm.

Entries into T Accounts and Trial Balance Connie Young, an architect, opened an office on October 1, 2019. During the month, she completed the following transactions connected with her professional practice: Transferred cash from a personal bank account to an account to be used for the business, $45,900. Paid October rent for office and workroom, $4,600. Purchased used automobile for $30,000, paying $6,900 cash and giving a note payable for the remainder. Purchased office and computer equipment on account, $9,200. Paid cash for supplies, $2,200. Paid cash for annual insurance policies $3,100. Received cash from client for plans delivered, $11,500. Paid cash for miscellaneous expenses, $1,230. Paid cash to creditors on account, $2,660. Paid $370 on note payable. Received invoice for blueprint service, due in November, $1,500. Recorded fees earned on plans delivered, payment to be received in November, $7,900. Paid salary of assistants, $2,400. Paid gas, oil, and repairs on automobile for October, $600. Required: 1. Record the above transactions (in chronological order) directly into the T accounts. To the left of the amount entered in the accounts, select the appropriate letter to identify the transaction. 2. Determine accounts balances of the T accounts. Accounts containing a single entry only (such as Prepaid Insurance) do not need a balance. Cash Bal. Accounts Receivable Supplies Prepaid Insurance Automobiles Equipment Accounts Payable Bal. Notes Payable Bal. Connie Young, Capital Professional Fees Bal. Salary Expense Blueprint Expense Rent Expense Automobile Expense Miscellaneous Expense 3. Prepare an unadjusted trial balance for Connie Young, Architect, as of October 31, 2019. For those boxes in which no entry is required, leave the box blank. Connie Young, Architect Unadjusted Trial Balance October 31, 2019 Debit Balances Credit Balances 4. Determine the net income or net loss for October. $

Entries into T Accounts and Trial Balance Connie Young, an architect, opened an office on October 1, 2019. During the month, she completed the following transactions connected with her professional practice: Transferred cash from a personal bank account to an account to be used for the business, $55,600. Paid October rent for office and workroom, $5,600. Purchased used automobile for $36,000, paying $8,300 cash and giving a note payable for the remainder. Purchased office and computer equipment on account, $11,100. Paid cash for supplies, $2,670. Paid cash for annual insurance policies $3,700. Received cash from client for plans delivered, $13,900. Paid cash for miscellaneous expenses, $1,500. Paid cash to creditors on account, $3,220. Paid $440 on note payable. Received invoice for blueprint service, due in November, $1,800. Recorded fees earned on plans delivered, payment to be received in November, $9,600. Paid salary of assistants, $2,900. Paid gas, oil, and repairs on automobile for October, $720. Required: 1. Record the above transactions (in chronological order) directly into the T accounts. To the left of the amount entered in the accounts, select the appropriate letter to identify the transaction. 2. Determine accounts balances of the T accounts. Accounts containing a single entry only (such as Prepaid Insurance) do not need a balance. Cash Bal. Accounts Receivable Supplies Prepaid Insurance Automobiles Equipment Accounts Payable Bal. Notes Payable Bal. Connie Young, Capital Professional Fees Bal. Salary Expense Blueprint Expense Rent Expense Automobile Expense Miscellaneous Expense 3. Prepare an unadjusted trial balance for Connie Young, Architect, as of October 31, 2019. For those boxes in which no entry is required, leave the box blank. Connie Young, Architect Unadjusted Trial Balance October 31, 2019 Debit Balances Credit Balances 4. Determine the net income or net loss for October. $

Schedule of Cash Collections of Accounts Receivable

OfficeMart Inc. has "cash and carry" customers and credit customers. OfficeMart estimates that 30% of monthly sales are to cash customers, while the remaining sales are to credit customers. Of the credit customers, 20% pay their accounts in the month of sale, while the remaining 80% pay their accounts in the month following the month of sale. Projected sales for the next three months are as follows:

The Accounts Receivable balance on September 30 was $84,000.

Prepare a schedule of cash collections from sales for October, November, and December. Round all calculations to the nearest whole dollar.

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Horizon Financial Inc. was organized on February 28. Projected selling and administrative expenses for each of the first three months of operations are as follows:

Depreciation, insurance, and property taxes represent $24,000 of the estimated monthly expenses. The annual insurance premium was paid on February 28, and property taxes for the year will be paid in June. 75% of the remainder of the expenses are expected to be paid in the month in which they are incurred, with the balance to be paid in the following month.

Prepare a schedule of cash payments for selling and administrative expenses for March, April, and May.