A battery is constructed based on the oxidation of magnesium and the reduction of Cu2+. The initial concentrations of Mg2+ and Cu2+ are 1.1×10−4 M and 1.6 M , respectively, in 1.0-liter half-cells.

PART A: What is the initial voltage of the battery?

PART B: What is the voltage of the battery after delivering 4.7 A for 8.0 h ?

PART C: How long can the battery deliver 4.7 A before going dead?

Waterways Corporation is preparing its budget for the coming year, 2020. The first step is to plan for the first quarter of that coming year. The company has gathered information from its managers in preparation of the budgeting process.

Waterways likes to keep 10% of the next month’s unit sales in ending inventory. All sales are on account. 85% of the Accounts Receivable are collected in the month of sale, and 15% of the Accounts Receivable are collected in the month after sale. Accounts receivable on December 31, 2019, totaled $185,400.

Direct Materials

Direct materials cost 80 cents per pound. Two pounds of direct materials are required to produce each unit.

Waterways likes to keep 5% of the materials needed for the next month in its ending inventory. Raw Materials on December 31, 2019, totaled 11,380 pounds. Payment for materials is made within 15 days. 50% is paid in the month of purchase, and 50% is paid in the month after purchase. Accounts Payable on December 31, 2019, totaled $104,585.

Other Information

The Cash balance on December 31, 2019, totaled $100,000, but management has decided it would like to maintain a cash balance of at least $700,000 beginning on January 31, 2020. Dividends are paid each month at the rate of $2.70 per share for 5,180 shares outstanding. The company has an open line of

1) For the first quarter of 2017, prepare a sales budget.

2) For the first quarter of 2017, prepare a production budget.

3) For the first quarter of 2017, prepare a direct materials budget. (Round cost per pound to 2 decimal places, e.g. 0.25 and all other answers to 0 decimal places, e.g. 2,520.)

4) For the first quarter of 2017, prepare a direct labor budget. (Round time per unit to nearest hour, e.g. 30 minutes will be rounded to 0.5 hours)

5) For the first quarter of 2017, prepare a manufacturing overhead budget. (Round overhead rate to 2 decimal places, e.g. 5.25 and all other answers to 0 decimal places, e.g. 2,520. List Variable Costs first.)

6)  For the first quarter of 2017, prepare a selling and administrative budget. (Enter per unit expenses rounded to 2 decimal places. E.g. 1.25)

7) For the first quarter of 2017, prepare a schedule for expected cash collections from customers. (Do not leave any answer field blank. Enter 0 for amounts.)

8)For the first quarter of 2017, prepare a schedule for expected payments for materials purchases. (Round answers to 0 decimal places, e.g. 2,520. Do not leave any answer field blank. Enter 0 for amounts.)

9) For the first quarter of 2017, prepare a cash budget. (Round answers to 0 decimal places, e.g. 2,520. Do not leave any answer field blank. Enter 0 for amounts.)

credit with Romney’s Bank. The terms of the agreement requires borrowing to be in $1,000 increments at 9% interest. Waterways borrows on the first day of the month and repays on the last day of the month. A $550,000 equipment purchase is planned for February.

A futures market is a central financial exchange where people can trade standardized futures contracts. A futures exchange provides physical or electronic trading venues, which can be organized as non-profit member-owned organizations or for-profit organizations. Futures exchanges can also be integrated under other types of exchanges, such as stock markets, options markets and bond markets.

Futures contracts are sometimes used by corporations and investors as a hedging strategy. Hedging refers to a range of investment strategies that are meant to decrease the risk experienced by investors and corporations.

Questions;

The futures market is referred to as an auction market, whereby producers and suppliers of commodities endeavour to avoid market volatility; in other words, producers and suppliers negotiate contracts with an investor who agrees to take on probable risk and reward, based on the expected volatility of the market.

1. Critically discuss the theoretical concept of futures contracts as a risk management tool, used by any would be investor to decrease future risk exposure or market volatility.                                                                                                                              

2. Review   and discuss the collapse of the Futures Oil Market, which   fell into the negative realm in May 2020.                                                                                      

What were the main reasons for this fall into the negative realm? Critically discuss.

Total 35 marks

3. After May 2020, what are the prospects of futures contracts as a significant risk management tool for firms? Discuss critically.

Broad bank has received a banking license from the BDDK ( Banking regulation and Supervision Agency in Turkey) in May 2020 and will begin operating as a new bank in the deposit banking market in early 2021. Broad bank With the approval of the board of directors, you started to work as the deputy general manager responsible for the strategy as of June 01, 2020. General Manager Mr. Murat said at the meeting on the day after you started working: “First of all, I congratulate you for your new job and I believe that it will make a difference with your experience and experience. Obviously, our stakeholders have great expectations about Broad Bank; especially in the first few years, we need to achieve a successful market share in the national market. For this, we should use our resources effectively. What kind of resource use strategy do you think we should follow? ”
• First, describe what the basic skill is, why it matters, and what the basic skill can count, what cannot be counted?
• Write a few (hypothetically) examples of Broad Bank's assets, abilities and basic skills?
• Then explain what outsourcing is and what it does?
• In which areas do you suggest outsourcing to Mr. Murat for Broad Bank? Why?

1. Alpha Ltd has appointed you as a manager in the budgeting department. The company has provided the following information to prepare a cash flow budget for the six months from the 1 January 2021 to 30 June 2021.

1. Alpha Ltd produces only one type of product and the projected selling price of the product is £2 for January and February and after that will be fixed at £3 for the foreseeable future.    
2. For the first three months of the year, 2,000 units will be sold per month. For the following three months, 2,500 units will be sold per month. Sales income is to be received in the month of sale.
3. Insurance costs are £200 every two months. The company will pay for insurance on 1 December 2020.
4. The company is paying 20% of sales of each month as bonus to the employees in the following month. The total sales during December 2020 will be £5,000.
5. Alpha Ltd will pay overhead costs of £2,000 each month.
6. The opening cash balance at 1 January 2021 will be £1,000.
7. The monthly cost of direct material and direct labour is estimated to be £500 and the company will pay them during each month.
8. Fixed costs of production are £100 per month, payable in the month.

1. Prepare a cash flow budget for the period 1 January 2021 to 30 June 2021 and indicate the closing balance as at 30 June 2021.

Nasi Ambeng Bagelen (NAB) in Putrajaya is a well-known restaurant that serves rice and delicacies from the original Javanese cuisine. Its well-known delicious menu makes it very popular. Due to its increasing popularity, the owner of NAB provides 100 packs of RM8 per pack of Nasi Ambeng every day to Newsagent KL Sentral in an effort to reach wider customers. On 30 th April 2020, Newsagent KL Sentral reported to NAB that two thirds of the total pack for a month’s sale had been sold. The transportation cost to deliver packed nasi ambeng from Putrajaya to Newsagent KL Sentral is RM80 daily. Newsagent KL Sentral is to remit cash to NAB after deducting a 6% commission, the costs of advertising of RM350 and RM400 to dispose the unsold nasi ambeng to every day to a food disposal centre which will be recycling the food in an environmentally friendly way.

Required:

i) Discuss the performance obligations of NAB as indicated in the above and the point in which the performance obligations are satisfied and the revenue is recognized?

ii) Compute the amount of cash to be remitted by Newsagent KL Sentral?

iii) Prepare the journal entries in the books of NAB and Newsagent KL Sentral to record the remittance of cash on 30th April 2020?

Question 1 Provisions and Contingencies                                                     

Below are three independent situations.

1. ABC Ltd is a manufacturer of boats and gives warranties at the time of sale to purchasers of its boats. Pursuant to the warranty terms, ABC Ltd undertakes to make good, by repair or replacement, manufacturing defects that become apparent within three years from the date of sale.
2. ABC Ltd has a number of non-current assets, some of which require, in addition to normal ongoing maintenance, substantial expenditure on major refits/refurbishment at certain intervals or on major components that require replacement at regular intervals.
3. XYZ Ltd is a listed company that provides food to functional centres that host events such as wedding and engagement parties. After an engagement party held by one of XYZ Ltd’s customers in May 2020, 50 people became ill, possibly as a results of food poisoning from products sold by XYZ Ltd. Legal proceedings were commenced seeking damages from XYZ Ltd. XYZ Ltd disputed liability by claiming that the functional centre was at fault for handling the food incorrectly. Up to the date of 30 June 2020 (financial year-end), XYZ Ltd’s lawyers advise that it was probable that XYZ Ltd would not be found liable.

REQUIRED:

Should a liability in the form of a provision be recorded? Briefly justify your decisions.

Broad bank has received a banking license from the BDDK ( Banking regulation and Supervision Agency in Turkey) in May 2020 and will begin operating as a new bank in the deposit banking market in early 2021. Broad bank With the approval of the board of directors, you started to work as the deputy general manager responsible for the strategy as of June 01, 2020. General Manager Mr. Murat said at the meeting on the day after you started working: “First of all, I congratulate you for your new job and I believe that it will make a difference with your experience and experience. Obviously, our stakeholders have great expectations about Broad Bank; especially in the first few years, we need to achieve a successful market share in the national market. For this, we should use our resources effectively. What kind of resource use strategy do you think we should follow? ”
• First, describe what the basic skill is, why it matters, and what the basic skill can count, what cannot be counted?
• Write a few (hypothetically) examples of Broad Bank's assets, abilities and basic skills?
• Then explain what outsourcing is and what it does?
• In which areas do you suggest outsourcing to Mr. Murat for Broad Bank? Why?

Nasi Ambeng Bagelen (NAB) in Putrajaya is a well-known restaurant that serves rice and delicacies from the original Javanese cuisine. Its well-known delicious menu makes it very popular. Due to its increasing popularity, the owner of NAB provides 100 packs of RM8 per pack of Nasi Ambeng every day to Newsagent KL Sentral in an effort to reach wider customers. On 30 th April 2020, Newsagent KL Sentral reported to NAB that two thirds of the total pack for a month’s sale had been sold. The transportation cost to deliver packed nasi ambeng from Putrajaya to Newsagent KL Sentral is RM80 daily. Newsagent KL Sentral is to remit cash to NAB after deducting a 6% commission, the costs of advertising of RM350 and RM400 to dispose the unsold nasi ambeng to every day to a food disposal centre which will be recycling the food in an environmentally friendly way.

Required:

i) Discuss the performance obligations of NAB as indicated in the above and the point in which the performance obligations are satisfied and the revenue is recognized.

ii) Compute the amount of cash to be remitted by Newsagent KL Sentral.

iii) Prepare the journal entries in the books of NAB and Newsagent KL Sentral to record the remittance of cash on 30th April 2020.

On February 1, 2018, Arrow Construction Company entered into a three-year construction contract to build a bridge for a price of $8,540,000. During 2018, costs of $2,180,000 were incurred with estimated costs of $4,180,000 yet to be incurred. Billings of $2,680,000 were sent, and cash collected was $2,430,000.

In 2019, costs incurred were $2,680,000 with remaining costs estimated to be $3,870,000. 2019 billings were $2,930,000 and $2,655,000 cash was collected. The project was completed in 2020 after additional costs of $3,980,000 were incurred. The company’s fiscal year-end is December 31. Arrow recognizes revenue over time according to percentage of completion.

Required:
1. Compute the amount of revenue and gross profit or loss to be recognized in 2018, 2019, and 2020 using the percentage of completion method?
2a. Prepare journal entries for 2018 to record the transactions described (credit "various accounts" for construction costs incurred).
2b. Prepare journal entries for 2019 to record the transactions described (credit "various accounts" for construction costs incurred).
3a. Prepare a partial balance sheet to show the presentation of the project as of December 31, 2018.
3b. Prepare a partial balance sheet to show the presentation of the project as of December 31, 2019.

Also, What is construction expenses to date for 2019?