Question & Answer

Show how Eq. (21.3) is derived from the definition of chip ratio, Eq. (21.2), and Figure 21.5(b).

Midwest Health Club (MHC) offers one-year memberships. Membership fees are due in full at the beginning of the individual membership period. As an incentive to new customers, MHC advertised that any customers not satisfied for any reason could receive a refund of the remaining portion of unused membership fees. As a result of this policy, Richard Nies, corporate controller, recognized revenue ratably over the life of the membership. MHC is in the process of preparing its year-end financial statements. Rachel Avery, MHC’s treasurer, is concerned about the company’s lackluster performance this year. She reviews the financial statements Nies prepared and tells Nies to recognize membership revenue when the fees are received. Instructions Answer the following questions. (a) What are the ethical issues involved? (b) What should Nies do?

Describe some of the fintech innovations in the financial markets. (LO5)

How is shear strength S related to tensile strength TS, on average?

1.      What do you see as the major strengths and flaws in the feedback control system used in the schools in this scenario? What changes do you recommend to overcome the flaws?

Assume Rita’s consulting business generated $13,000 in gross income for the current year. Further, assume Rita uses the actual expense method for computing her home office expense deduction.

Why would a pension fund or insurance company consider selling stock index futures? (LO3)

The barrel and screw of an extruder are generally divided into three sections; identify the sections.

Who pays the first level of tax on a C corporation’s income? What is the tax rate applicable to the first level of tax?

Solve Problem 24.26 only using maximum production rate as the objective rather than minimum piece cost. Use of a spreadsheet calculator is recommended

Describe a lockup provision and explain why it might be required by the lead underwriter. (LO3)

: Compare and contrast programmed and nonprogrammed decisions, including how they relate to the presence of certainty, uncertainty, and ambiguity.

Question: Duncan Company reports the following financial information before adjustments. Dr. Cr. Accounts Receivable $100,000 Allowance for Doubtful Accounts $ 2,000 Sales Revenue (all on credit) 900,000 Sales Returns and Allowances 50,000 Instructions Prepare the journal entry to record Bad Debt Expense assuming Duncan Company estimates bad debts at (a) 1% of net sales and (b) 5% of accounts receivable.

Finman Company designated Jill Holland as petty cash custodian and established a petty cash fund of $200. The fund is reimbursed when the cash in the fund is at $15. Petty cash receipts indicate funds were disbursed for office supplies $94 and miscellaneous expense $87. Prepare journal entries for the establishment of the fund and the reimbursement.

For the current year, LNS Corporation reported the following taxable income at the end of its first, second, and third quarters.  What are LNS’s minimum first, second, third, and fourth quarter estimated tax payments using the annualized income method?

Kathleen Battle Corporation was organized on January 1, 2014. It is authorized to issue 10,000 shares of 8%, $100 par value preferred stock, and 500,000 shares of no-par common stock with a stated value of $1 per share. The following stock transactions were completed during the first year. Jan. 10 Issued 80,000 shares of common stock for cash at $5 per share. Mar. 1 Issued 5,000 shares of preferred stock for cash at $108 per share. Apr. 1 Issued 24,000 shares of common stock for land. The asking price of the land was $90,000; the fair value of the land was $80,000. May 1 Issued 80,000 shares of common stock for cash at $7 per share. Aug. 1 Issued 10,000 shares of common stock to attorneys in payment of their bill of $50,000 for services rendered in helping the company organize. Sept. 1 Issued 10,000 shares of common stock for cash at $9 per share. Nov. 1 Issued 1,000 shares of preferred stock for cash at $112 per share. Instructions Prepare the journal entries to record the above transactions.

There are 11 correct answers in the following multiple choice questions (some questions have multiple answers that are correct). To attain a perfect score on the quiz, all correct answers must be given. Each correct answer is worth 1 point. Each omitted answer or wrong answer reduces the score by 1 point, andeach additional answer beyond the correct number of answers reduces the score by 1 point. Percentage on the quiz is based on the total number of correct answers. 33.1 Machining is never used for rapid prototyping because it takes too long: (a) true or (b) false? 33.2 Which of the following rapid prototyping processes starts with a photosensitive liquid polymer to fabricate a component (two correct answers): (a) ballistic particle manufacturing, (b) fuseddeposition modeling, (c) selective laser sintering, (d) solid ground curing, and (e) stereolithography? 33.3 Of all of the current material addition rapid prototyping technologies, which one is the most widely used: (a) ballistic particle manufacturing, (b) fused deposition modeling, (c) selective laser sintering, (d) solid ground curing, and (e) stereolithography? 33.4 Which one of the following RP technologies uses solid sheet stock as the starting material: (a) ballistic particle manufacturing, (b) fused-deposition modeling, (c) laminated-object manufacturing, (d) solid ground curing, or (e) stereolithography? 33.5 Which of the following RP technologies uses powders as the starting material (two correct answers): (a) ballistic particle manufacturing, (b) fused-deposition modeling, (c) selective laser sintering, (d) solid ground curing, and (e) three-dimensional printing? 33.6 Rapid prototyping technologies are never used to make production parts: (a) true or (b) false? 33.7 Which of the following are problems with the current material addition rapid prototyping technologies (three best answers): (a) inability of the designer to design the part, (b) inability to convert a solid part into layers, (c) limited material variety, (d) part accuracy, (e) part shrinkage, and (f) poor machinability of the starting material?

Distinguish among the following: (1) a general checking account, (2) an imprest bank account, and (3) a lockbox account.

Look through the costs and benefits that we identified from the completion of the internal market. Do the same costs and benefits arise from the enlarged EU of 27 members?

1.       : Some critics argue that Six Sigma is a collection of superficial changes that often results in doing a superb job of building the wrong product or offering the wrong service. Do you agree or disagree? Explain.

List the advantages often attributed to soldering as an industrial joining process?

How do economies of scale in banking relate to the issue of interstate banking? (LO2)

: Explain globalization and why a global mind-set is so important for managers working internationally.

Limited Brands recently repurchased 68,965,000 of its shares, paying $29 per share. The total number of shares outstanding before the redemption was 473,223,066. The total number of shares outstanding after the redemption was 404,258,066. Assume your client owned 20,000 shares of stock in Limited Brands. What is the minimum number of shares your client must tender to receive exchange treatment under the “substantially disproportionate with respect to the shareholder” change-in-ownership rules?

A sheet metal steel part with surface area = 100 cm2 is to be zinc plated. What average plating thickness will result if 15 amps are applied for 12 minutes in a chloride electrolyte solution?