Dalton Co. follows a policy of allocating all common costs equally among its profit centers. A partial responsibility income statement for a typical month is shown below:

After evaluating these data, Dalton Co. decides to close Profit Center 3. This action eliminates all revenue, variable costs, and fixed costs traceable to Center 3, but eliminates only $35,000 in common fixed costs. Closing Profit Center 3 has no effect upon the responsibility margins of Centers 1 and 2.

Closing Profit Center 3 should cause Dalton's monthly operating income to:

Wildhorse Co.’s income statement contained the condensed information below. Wildhorse Co. Income Statement For the Year Ended December 31, 2022 Service revenue $1,358,000 Operating expenses, excluding depreciation $859,600 Depreciation expense 77,000 Loss on disposal of plant assets 22,400 959,000 Income before income taxes 399,000 Income tax expense 78,400 Net income $320,600 Wildhorse Co.’s balance sheets contained the following comparative data at December 31. 2022 2021 Accounts receivable $98,000 $84,000 Accounts payable 57,400 44,800 Income taxes payable 18,200 9,800 Accounts payable pertain to operating expenses. Prepare the operating activities section of the statement of cash flows using the indirect method. (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).)

At December 31, 2019, Moon Co. owned the following investments in capital stock of publicly traded companies as marketable securities: Cost Current Market Value Value Cola Co., Inc. (6000 shares: cost, $4 per share; market value, $5) $ 24 000 $ 30 000 Juice, Inc. (4000 shares: cost, $5 per share; market value, $3) $ 20,000 $ 12,000 Total $44,000 $42,000 In 2020, Moon engaged in the following two transactions: June 12 Sold 2,000 shares of its investment in Cola Co., Inc., at a price of $5 per share, less a brokerage commission of $200. Sept. 3 Sold 1,000 shares of its investment in Juice, Inc., at a price of $4 per share, less a brokerage commission of $200. The fair value adjustment at December 31, 2019 will include?

At the end of the year, Randy’s Parts Co. had the following items in inventory:

Required
a. Determine the amount of ending inventory using the lower-of-cost-or-market rule applied to each individual inventory item.
b. Provide the adjustment necessary to write down the inventory based on Requirement a. Assume that Randy’s Parts Co. uses the perpetual inventory system.
c. Determine the amount of ending inventory, assuming that the lower-of-cost-or-market rule is applied to the total inventory in aggregate.
d. Provide the adjustment necessary to write down the inventory based on Requirement c. Assume that Randy’s Parts Co. uses the perpetual inventory system.

On January 1 of the current year, Townsend Co. commenced operations. It operated its plant at 100% of capacity during January. The following data summarized the results for January:

a. Prepare an income statement using absorption costing.

b. Prepare an income statement using variable costing.

On January 1 of the current year, Townsend Co. commenced operations. It operated its plant at 100% of capacity during January. The following data summarized the results for January:

a. Prepare an income statement using absorption costing.

b. Prepare an income statement using variable costing.

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The following are notes receivable transactions for Wildhorse Co.:

Record the transactions for Wildhorse Co. Wildhorse Co. uses only one allowance account for both accounts and notes receivable.

Bank Reconciliation The following data were accumulated for use in reconciling the bank account of Mathers Co. for July: Cash balance according to the company's records at July 31 $22,130. Cash balance according to the bank statement at July 31, $23,520. Checks outstanding, $4,490. Deposit in transit, not recorded by bank, $3,610. A check for $170 in payment of an account was erroneously recorded in the check register as $710. Bank debit memo for service charges, $30. a. Prepare a bank reconciliation, using the format shown in Exhibit 14. Mathers Co. Bank Reconciliation July 31 Cash balance according to bank statement $ 23,520 -4,490 3,610 Adjusted balance $ Cash balance according to company's records $ Adjusted balance $ b. If the balance sheet is prepared for Mathers Co. on July 31, what amount should be reported for cash? $ c. Must a bank reconciliation always balance (reconcile)?

Methane (CH4) gas flows into a combustion chamber at a rate of 200 L/min at 1.50 atm and ambient temperature. Air is added to the chamber at 1.00 atm and the same temperature, and the gases are ignited.

a. To ensure complete combustion of CH4 to CO2(g) and H2O(g), three times as much oxygen as is necessary is reacted. Assuming air is 21 mole percent O2 and 79 mole percent N2, calculate the flow rate of air necessary to deliver the required amount of oxygen.

b. Under the conditions in part a, combustion of methane was not complete as a mixture of CO2(g) and CO(g) was produced. It was determined that 95.0% of the carbon in the exhaust gas was present in CO2. The remained was present as carbon in CO. Calculate the composition of the exhaust gas in terms of mole fraction of CO, CO2, O2, N2 and H2O. Assume CH4 is completely reacted and N2 is unreacted.