Problem 16-10 Net operating loss carry back and carryforward; multiple differences [LO16-2, 16-4, 16-7] Fores Construction Company reported a pretax operating loss of $180 million for financial reporting purposes in 2016. Contributing to the loss were (a) a penalty of $5 million assessed by the Environmental Protection Agency for violation of a federal law and paid in 2016 and (b) an estimated loss of 20 million from accruing a loss contingency. The loss will be tax deductible when paid in 2017. The enacted tax rate is 40%. There were no temporary differences at the beginning of the year and none originating in 2016 other than those described above. Taxable income in Fores’s two previous years of operation was as follows: 2014 $ 90 million 2015 40 million Required: 1. Prepare the journal entry to recognize the income tax benefit of the net operating loss in 2016. Fores elects the carryback option. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answers in millions (i.e., 10,000,000 should be entered as 10).) 2. What is the net operating loss reported in 2016 income statement? (Enter your answers in millions (i.e., 10,000,000 should be entered as 10).) 3. Prepare the journal entry to record income taxes in 2017 assuming pretax accounting income is $85 million. No additional temporary differences originate in 2017. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answers in millions (i.e., 10,000,000 should be entered as 10).)
In: Accounting
Flounder Company is in the process of preparing its financial
statements for 2017. Assume that no entries for depreciation have
been recorded in 2017. The following information related to
depreciation of fixed assets is provided to you.
|
1)Flounder purchased equipment on January 2, 2014, for $76,900. At that time, the equipment had an estimated useful life of 10 years with a $4,900 salvage value. The equipment is depreciated on a straight-line basis. On January 2, 2017, as a result of additional information, the company determined that the equipment has a remaining useful life of 4 years with a $3,100 salvage value. |
||
| 2)During 2017, Flounder changed from the double-declining-balance method for its building to the straight-line method. The building originally cost $280,000. It had a useful life of 10 years and a salvage value of $28,000. The following computations present depreciation on both bases for 2015 and 2016. |
|
2016 |
2015 |
|||
| Straight-line | $25,200 | $25,200 | ||
| Declining-balance | 44,800 | 56,000 |
|
3)Flounder purchased a machine on July 1, 2015, at a cost of $110,000. The machine has a salvage value of $16,000 and a useful life of 8 years. Flounder’s bookkeeper recorded straight-line depreciation in 2015 and 2016 but failed to consider the salvage value. Prepare the journal entries to record depreciation expense for 2017 and correct any errors made to date related to the information provided. (Ignore taxes.) (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) Show comparative net income for 2016 and 2017. Income before depreciation expense was $280,000 in 2017, and was $310,000 in 2016. (Ignore taxes.) |
In: Accounting
During 2016, Dana Company decided to begin investing its idle cash in marketable securities. The information contained below relates to Dana’s 2016 marketable security transactions:
| Feb. 3 | Purchased 3,000 shares of Blair Company common stock for $12 per share. |
| Apr. 1 | Purchased $20,000 face value of Solomon Inc. 12% bonds at par plus accrued interest; interest on the bonds is payable each June 30 and December 31. |
| Jun. 30 | Received the semiannual interest on the Solomon bonds and a $0.25 per share dividend on the Blair common stock. |
| Sept. 1 | Purchased 4,000 shares of Woodman Corporation common stock for $22 per share. |
| Nov. 1 | Purchased $30,000 face value of Edwards Company 11% bonds at par plus accrued interest; interest on the bonds is payable each June 1 and December 1. |
| Dec. 1 | Received the interest on the Edwards bonds and sold the bonds for $30,300. |
| Dec. 30 | Received a $0.25 dividend per share on the Blair common stock and sold all the shares for $35,300. |
| Dec. 31 | Received the interest on the Solomon bonds. The following information is available concerning the year-end market prices: |
|
Security |
Quoted Market |
| Solomon 12% bonds | $20,200 |
| Woodman common (per share) | 23 |
Required:
| 1. | Record Dana’s investment transactions for 2016. |
| 2. | Show the items of income or loss on temporary investments Dana reports on its 2016 income statement. |
| 3. | Show the carrying value of Dana’s investment account on its December 31, 2016, balance sheet. |
In: Accounting
Q.1. Operating torques in analogue instruments are
(a) deflecting and control (b) deflecting and damping (c) deflecting, control and damping (d) vibration and balancing
Q.2. An instrument transformer is used to extend the range of
(a) induction instrument (b) electrostatic instrument (c) moving coil instrument (d) any of the above
Q.3. A power factor meter is based on the principle of
(a) electrostatic instrument (b) Electrodynamometer instrument (c) Electro thermo type instrument (d) Rectifier type instrument.
Q.4.When using the terms "accuracy" and "precision" for measurements
a. "precision" implies less measurement error than "accuracy" b. "accuracy" implies less measurement error than "precision" c. "precision" measures the repeatability of a measurement d. both terms mean the same thing
Q.5. The bridge method commonly used for finding mutual inductance is
(A) Heaviside Campbell bridge (B) Schering bridge (C) De Sauty bridge (D) Wien bridge
Q.6. The Q-meter works on the principle of
(A) mutual inductance (B) self inductance (C) series resonance (D) parallel resonance
Q.7. A digital-to-analog converter with a full-scale output voltage of 3.5 V has a resolution close to 14 mV. Its bit size is
(A) 4 (B) 8 (C) 16 (D) 32
Q.8.Which of the following has the best accuracy
(A).MI meter (B).Moving coil meter (C).Rectifier type meter (D).Thermocouple meter
Q.9.A 0-10 A ammeter has a guaranteed accuracy of 1% of FSD.The limiting error while reading 2.5A
(A).1% (B).2% (C).4% (D).none of the above
Q.10.In a transducer the observed output deviates from the correct value by constant factor the resulting error is called
(A).Zero Error (B).Sensitivity Error (C).Non-confirmity Error (D).Hysteresis error
Q.11. If the current in a capacitor leads the voltage by 80°, the loss angle of the capacitor is
(a) 10° (b) 80° (c) 120° (d) 170°
Q.12. To avoid the effect of stray magnetic field in A.C. bridges we can use
(a) magnetic screening (b) Wagner earthing device (c) wave filters (d) any of the above
Q.13. The disc of an instrument using eddy current damping should be of
(a) conducting and magnetic material (b) non-conducting and magnetic material (c) conducting and non-magnetic material (d) none of the above
Q.14. An induction meter can handle current upto
(a) 10 A (b) 30 A (c) 60 A (d) 100 A
Q.15. Which of the following devices may be used for extending the range of instruments ?
(a) Shunts (b) Multipliers (c) Current transformers (d) Potential transformers (e) All of the above
In: Mechanical Engineering
JAVA
Given the company and Employee interface, create a findLeastPaid() method (that will do the opposite of whats below). instead of finding the the best paid convert it find the lowest paid person.
Given the Company and FullTimeEmployee classes and the Employee
interface,
write a Java program that reads in a file of full time employees
with each line of
input containing the name of the employee (String) and gross Salary
(double) and stores
them in an array list. Then using the arraylist of stored
employees, find and print the
less paid employee (name) and his/her pay. If there is more than
one such, print any one
lesst paid employee information.
---------------------------------------------------------------------------------
import java.util.*; // for the Scanner class
import java.io.*;
public class Company
{
public static void main (String[ ] args) throws
FileNotFoundException
{
new Company().run();
} // method main
/**
* Determines and prints out the best paid of the full-time
employees
* scanned in from a specified file.
*
*/
public void run() throws FileNotFoundException // see Section 2.3
{
final String INPUT_PROMPT = "Please enter the path for the file of
employees: ";
final String BEST_PAID_MESSAGE =
"\n\nThe best-paid employee (and gross pay) is ";
final String NO_INPUT_MESSAGE =
"\n\nError: There were no employees scanned in.";
String fileName;
System.out.print (INPUT_PROMPT);
fileName = new Scanner (System.in).nextLine();
Scanner sc = new Scanner (new File (fileName));
FullTimeEmployee bestPaid = findBestPaid (sc);
if (bestPaid == null)
System.out.println (NO_INPUT_MESSAGE);
else
System.out.println (BEST_PAID_MESSAGE + bestPaid.toString());
} // method run
/**
* Returns the best paid of all the full-time employees scanned
in.
*
* @param sc – the Scanner object used to scan in the
employees.
*
* @return the best paid of all the full-time employees scanned
in,
* or null there were no employees scanned in.
*
*/
public FullTimeEmployee findBestPaid (Scanner sc)
{
FullTimeEmployee full,
bestPaid = new FullTimeEmployee();
while (sc.hasNext())
{
full = getNextEmployee (sc);
if (full.getGrossPay() > bestPaid.getGrossPay())
bestPaid = full;
} //while
if (bestPaid.getGrossPay() == 0.00)
return null;
return bestPaid;
} // method findBestPaid
/**
* Returns the next full-time employee from the file scanned by a
specified Scanner
* object.
*
* @param sc – the Scanner object over the file.
*
* @return the next full-time employee scanned in from sc.
*
*/
protected /*private*/ FullTimeEmployee getNextEmployee (Scanner
sc)
{
Scanner lineScanner = new Scanner (sc.nextLine());
String name = lineScanner.next();
double grossPay = lineScanner.nextDouble();
return new FullTimeEmployee (name, grossPay);
} // method getNextEmployee
} // class Company
---------------------------------------------------------------------------------
import java.text.DecimalFormat;
public interface Employee
{
final static DecimalFormat MONEY = new DecimalFormat ("
$0.00");
// a class constant used in formatting a value in dollars and
cents
/**
* Returns this Employee object’s name.
*
* @return this Employee object’s name.
*
*/
String getName();
/**
* Returns this Employee object’s gross pay.
*
* @return this Employee object’s gross pay.
*
*/
double getGrossPay();
/**
* Returns a String representation of this Employee object with the
name
* followed by a space followed by a dollar sign followed by the
gross
* weekly pay, with two fractional digits (rounded).
*
* @return a String representation of this Employee object.
*
*/
String toString();
} // interface Employee
---------------------------------------------------------------------------------
public class FullTimeEmployee implements Employee
{
protected /*private*/ String name;
protected /*private*/ double grossPay;
public FullTimeEmployee()
{
final String EMPTY_STRING = "";
name = EMPTY_STRING;
grossPay = 0.00;
} // default constructor
/**
* Initializes this FullTimeEmployee object's name and gross pay
from a
* a specified name and gross pay.
*
* @param name - the specified name.
* @param grossPay - the specified gross pay.
*
*/
public FullTimeEmployee (String name, double grossPay)
{
this.name = name;
this.grossPay = grossPay;
} // 2-parameter constructor
/**
* Returns the name of this FullTimeEmployee object.
*
* @return the name of this FullTimeEmployee object.
*
*/
public String getName()
{
return name;
} // method getName
/**
* Returns the gross pay of this FullTimeEmployee object.
*
* @return the gross pay of this FullTimeEmployee object.
*
*/
public double getGrossPay()
{
return grossPay;
} // method getGrossPay
/**
* Returns a String representation of this FullTimeEmployee object
with the
* name followed by a space followed by a dollar sign followed by
the gross
* weekly pay, with two fractional digits (rounded), followed by "
FULL TIME".
*
* @return a String representation of this FullTimeEmployee
object.
*
*/
public String toString()
{
final String EMPLOYMENT_STATUS = " FULL TIME";
return name + MONEY.format (grossPay) + EMPLOYMENT_STATUS;
// the format method returns a String representation of
grossPay.
} // method toString
} // class FullTimeEmployee
In: Computer Science
JAVA
Given the company and Employee interface, create a
findLeastPaid() method (that will do the opposite of whats
below). instead of finding the the best paid convert it
find the lowest paid person.
write a Java program that reads in a file of full time employees
with each line of
input containing the name of the employee (String) and gross Salary
(double) and stores
them in an array list. Then the arraylist of stored employees, find
and print the
less paid employee (name) and his/her pay. If there is more than
one such, print any one
lesst paid employee information.
---------------------------------------------------------------------------------
import java.util.*; // for the Scanner class
import java.io.*;
public class Company
{
public static void main (String[ ] args) throws
FileNotFoundException
{
new Company().run();
} // method main
/**
* Determines and prints out the best paid of the full-time
employees
* scanned in from a specified file.
*
*/
public void run() throws FileNotFoundException // see Section 2.3
{
final String INPUT_PROMPT = "Please enter the path for the file of
employees: ";
final String BEST_PAID_MESSAGE =
"\n\nThe best-paid employee (and gross pay) is ";
final String NO_INPUT_MESSAGE =
"\n\nError: There were no employees scanned in.";
String fileName;
System.out.print (INPUT_PROMPT);
fileName = new Scanner (System.in).nextLine();
Scanner sc = new Scanner (new File (fileName));
FullTimeEmployee bestPaid = findBestPaid (sc);
if (bestPaid == null)
System.out.println (NO_INPUT_MESSAGE);
else
System.out.println (BEST_PAID_MESSAGE + bestPaid.toString());
} // method run
/**
* Returns the best paid of all the full-time employees scanned
in.
*
* @param sc – the Scanner object used to scan in the
employees.
*
* @return the best paid of all the full-time employees scanned
in,
* or null there were no employees scanned in.
*
*/
public FullTimeEmployee findBestPaid (Scanner sc)
{
FullTimeEmployee full,
bestPaid = new FullTimeEmployee();
while (sc.hasNext())
{
full = getNextEmployee (sc);
if (full.getGrossPay() > bestPaid.getGrossPay())
bestPaid = full;
} //while
if (bestPaid.getGrossPay() == 0.00)
return null;
return bestPaid;
} // method findBestPaid
/**
* Returns the next full-time employee from the file scanned by a
specified Scanner
* object.
*
* @param sc – the Scanner object over the file.
*
* @return the next full-time employee scanned in from sc.
*
*/
protected /*private*/ FullTimeEmployee getNextEmployee (Scanner
sc)
{
Scanner lineScanner = new Scanner (sc.nextLine());
String name = lineScanner.next();
double grossPay = lineScanner.nextDouble();
return new FullTimeEmployee (name, grossPay);
} // method getNextEmployee
} // class Company
---------------------------------------------------------------------------------
import java.text.DecimalFormat;
public interface Employee
{
final static DecimalFormat MONEY = new DecimalFormat ("
$0.00");
// a class constant used in formatting a value in dollars and
cents
/**
* Returns this Employee object’s name.
*
* @return this Employee object’s name.
*
*/
String getName();
/**
* Returns this Employee object’s gross pay.
*
* @return this Employee object’s gross pay.
*
*/
double getGrossPay();
/**
* Returns a String representation of this Employee object with the
name
* followed by a space followed by a dollar sign followed by the
gross
* weekly pay, with two fractional digits (rounded).
*
* @return a String representation of this Employee object.
*
*/
String toString();
} // interface Employee
---------------------------------------------------------------------------------
public class FullTimeEmployee implements Employee
{
protected /*private*/ String name;
protected /*private*/ double grossPay;
public FullTimeEmployee()
{
final String EMPTY_STRING = "";
name = EMPTY_STRING;
grossPay = 0.00;
} // default constructor
/**
* Initializes this FullTimeEmployee object's name and gross pay
from a
* a specified name and gross pay.
*
* @param name - the specified name.
* @param grossPay - the specified gross pay.
*
*/
public FullTimeEmployee (String name, double grossPay)
{
this.name = name;
this.grossPay = grossPay;
} // 2-parameter constructor
/**
* Returns the name of this FullTimeEmployee object.
*
* @return the name of this FullTimeEmployee object.
*
*/
public String getName()
{
return name;
} // method getName
/**
* Returns the gross pay of this FullTimeEmployee object.
*
* @return the gross pay of this FullTimeEmployee object.
*
*/
public double getGrossPay()
{
return grossPay;
} // method getGrossPay
/**
* Returns a String representation of this FullTimeEmployee object
with the
* name followed by a space followed by a dollar sign followed by
the gross
* weekly pay, with two fractional digits (rounded), followed by "
FULL TIME".
*
* @return a String representation of this FullTimeEmployee
object.
*
*/
public String toString()
{
final String EMPLOYMENT_STATUS = " FULL TIME";
return name + MONEY.format (grossPay) + EMPLOYMENT_STATUS;
// the format method returns a String representation of
grossPay.
} // method toString
} // class FullTimeEmployee
In: Computer Science
a) Name all the epimeric pairs you can find in these diastereoisomers. At what positions are they epimeric?
Using any two of these diastereoisomers as examples, name their enantiomers and anomers.
D-allose, D-altrose. D-mannose, D-glucose, D-gulose, D-galactose, D-talose, D-idose
b) Using any two of these diastereoisomers as examples, name their enantiomers and anomers.
In: Chemistry
Programming Java Homework:
Find the Highest Score (Just need the code and directions followed exactly and written in Java code)
Write a program that prompts the user to enter the number of students and each student’s name and score, and finally displays the name and score of the student with the highest score.
Use the next () method in the Scanner class to read a name, rather than using the nextLine () method.
In: Computer Science
Edit the given
program to produce the following output in c++ mode:
- Take in the name of a superhero & tell him how many villains
he/she has to defeat today - The number of villains is randomly
generated and should be a number between 11 and 42.
- Use a seed of 7.
Hint: Compile the program first before making edits
What is your name? Hello Captain America There are 42 villains you need to defeat today Oops! one of the villains was able to multiply himself by a power of 3. There are actually 74088 villains.
the program starts her
#include
<string>
//make sure that all necessary libraries are included &
correct
using namespace std;
int main() {
string name;
int number;
cout << "What is your name?" <<
endl;
cin >> name;
cout << "Hello " << name <<
endl;
cout << "There are "<< number >> "
villains you need to defeat today"<<
endl; // edit
and include any necessary code
cout << "Oops! one of the villains was able to
multiply himself by a power of 3. There are actually villains."
<< endl;
return 0;
}
In: Electrical Engineering
In Python Please
Samwell Tarly knows that in the world of Westeros, some names are
better than others. Some like Aegon Targaryen and Tyrion Lannister.
He and Citadel believe that a correct name should have the same
number of capital letters as words, for example: Bran Stark is
correct. Whereas Brienne of Tarth is not. Your task is to help read
the books and determine the correct names. Each name is strictly
composed of letters and names separated by single spaces. Input
Format Several test cases, one per line, each containing the name
of a person. No name contains more than 20 words and each word does
not contain more than 30 characters. (End of file loop) Constraints
(End of file loop)
Output Format For each name, you must print “Correct” if the name is approved, otherwise you must print “No”. Sample Input 0
Robert Baratheon
Daenerys Targaryen
Cersei lannister
Theon Greyjoy
Brienne of Tarth
Arya Stark
Melisandre
Gray worm
Jon snow
Daario NaHaris
In: Computer Science