1. At the beginning of 2017, Brignt Co. purchased a truck for $84,000 with an estimated useful life of 7 years and an estimated salvage value of $7,000. For financial reporting purposes, the truck is being depreciated using the straight-line method; for tax purposes, the double-declining-balance method is being used. Bright Co.'s tax rate is 34% for 2017 and all future years.

a) At the end of 2017, what are the book bases and the tax basis of the truck?

Truck's Book Basis is: __________

Truck's Tax Basis is: ____________

Tile Co. Income Statement Budget

sales volume, unit: 3,000 Sales: 18.00 Variable product: 6.50 variable selling and admin: 3.50 contribution margin: 8.00 fixed product: 2.00 fixed variable selling and admin: 0.70 operating income: 5.30

Tile Co. is budgeting for next year. Their initial budget is shown above. If they wish to budget for 8,000 units, what would the new budgeted profit be? Enter as a whole number, no commas and no dollar signs.

The equilibrium constant, K, for the following reaction is 3.35×10-2 at 629 K.

COCl2(g) <---->CO(g) + Cl2(g)

An equilibrium mixture of the three gases in a 11.0 L container at 629 K contains 0.217 M COCl2, 8.52×10-2 M CO and 8.52×10-2 M Cl2. What will be the concentrations of the three gases once equilibrium has been reestablished, if the equilibrium mixture is compressed at constant temperature to a volume of 5.95 L?

Your client, FNP Ltd, engaged the services of Z and Co., a firm of real estate valuers, to perform a valuation of all real estate held by the company. As a result of this revaluation, property values on the balance sheet were significantly increased, leading to material increase in net assets backing per share.

Require;

Describe the audit procedures that would be required with respect to the valuations performed by Z and Co.

Assume that you are not satisfied with the results of procedures performed. Explain what alternative procedures could be performed.

At 1 atm and 25 ˚C the molar entropy change for the reaction CO(g) + 1 2 O2(g)  CO2(g) (1) is ΔSo = - 86.46 J K-1. The molar heat capacities at constant pressure at 1 atm and 25 ˚C for CO, O2, and CO2 are, respectively, 29.123, 29.362, and 37.12 J K-1 mol-1. Assume that the heat capacities are independent of temperature and calculate the entropy change for reaction (1) at 100 ˚C and 1 atm.

Spartan Co. has the following selected securities outstanding all year:

Preferred stock, cumulative, 5%, $100 par, 3,000 shares

Common stock, $1 par, 18,000 shares

Bonds payable, $80,000 value, 7%, convertible into 2,000 shares of common stock

Net income for the year is $79,200; the income tax rate is 30%.

What is Spartan Co.'s diluted EPS, rounded.?

Question 1 options:

A system containing 2 moles of CO 2 (g) is initially at 25 0 C and 10atm and is confined to a cylinder that has a cross section of 10 cm 2 . The system expands adiabatically against an external pressure of 1 atm until the piston has moved upwards through 20cm. Assume that CO 2 is an ideal gas with C v,m = 28.8 J/K mol. Calculate q, w, Δ U, Δ T and Δ S.

Bob Company has 46 million shares outstanding trading for $11 per share. Bob Co also has $97 million in outstanding debt. Suppose​ Bob Co equity cost of capital is 17%​, its debt cost of capital is 9%​, and a corporate tax rate is 30%.

a. What is​ Bob Co's unlevered cost of​ capital?

b. What is​ Bob Co's after-tax debt cost of​ capital?

c. What is​ Bob Co's weighted average cost of​ capital?

ABC Co. purchased a machine on April 1, 2014 for $82,000 with an estimated useful life of 6 years and salvage value of $4,000.  They sold the machine on July 1, 2019, for $15,000.  Assuming ABC Co. uses the straight line method of depreciating its assets, the journal entry to record the sale of the machine would include a: