Question & Answer

: Define the management types and roles that managers perform in organizations.

Beilman Inc. reports the following pretax income (loss) for both book and tax purposes. (Assume the carryback provision is used where possible for a net operating loss.) Year Pretax Income (Loss) Tax Rate 2012 $120,000 40% 2013 90,000 40% 2014 (280,000) 45% 2015 120,000 45% The tax rates listed were all enacted by the beginning of 2012. Instructions (a) Prepare the journal entries for years 2012–2015 to record income tax expense (benefit) and income taxes payable (refundable), and the tax effects of the loss carryback and loss carryforward, assuming that based on the weight of available evidence, it is more likely than not that one-half of the benefits of the loss carryforward will not be realized. (b) Prepare the income tax section of the 2014 income statement beginning with the line “Operating loss before income taxes.” (c) Prepare the income tax section of the 2015 income statement beginning with the line “Income before income taxes.”

List the preforming operations discussed in the forming video.

Swarten Corporation issued 600 shares of no-par common stock for $8,200. Prepare Swarten’s journal entry if (a) the stock has no stated value, and (b) the stock has a stated value of $2 per share.

Faith, a resident of Florida (11th Circuit), recently found a circuit court case that is favorable to her research question.  Which two circuits would she prefer to have issued the opinion?

Discuss the relative merits of the different methods used by the All England Club to allocate tickets for Wimbledon each year.

Give some examples of mental short-cuts/heuristics that you use. Why do you use them?

The behavior of nanoscale structures is different from macroscale and even microscale structures due to two factors mentioned in the text. What are those two factors?

Explain why investor sentiment can affect stock prices. (LO3)

What is the formula for the net interest margin? Explain why it is closely monitored by banks. (LO3)

: Identify the personal challenges faced by new managers and ways of overcoming them

Describe the characteristics of multinational corporations and how they might employ the bottom-of-the-pyramid concept.

Travel Inc. sells tickets for a Caribbean cruise to Carmel Company employees. The total cruise package costs Carmel $70,000 from ShipAway cruise liner. Travel Inc. receives a commission of 6% of the total price. Travel Inc. therefore remits $65,800 to ShipAway. Prepare the entry to record the revenue recognized by Travel Inc. on this transaction.

Which circumstances might cause a stimulative monetary policy to be ineffective? (LO2)

Compare a centralized database system to a decentralized, distributed blockchain system. (LO2)

There are 29 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 score on the quiz is based on the total number of correct answers. 13.1 The forward movement of polymer melt in an extruder barrel is resisted by drag flow, which is caused by the resistance to flow through the die orifice: (a) true or (b) false? 13.2 Which of the following are sections of a conventional extruder barrel for thermoplastics (three best answers): (a) compression section, (b) die section, (c) feed section, (d) heating section, (e) metering section, and (f) shaping section? 13.3 Which of the following processes are associated with the production of plastic sheet and film (three correct answers): (a) blown-film extrusion process, (b) calendering, (c) chill-roll extrusion, (d) doctor blade method, (e) spinning, (f) thermoforming, and (g) transfer molding? 13.4 The principal components of an injection molding machine are which two of the following: (a) clamping unit, (b) hopper, (c) injection unit, (d) mold, and (e) part ejection unit? 13.5 The parting line in injection molding is which one of the following: (a) the lines formed where polymer melt meets after flowing around a core in the mold, (b) the narrow gate sections where the parts are separated from the runner, (c) where the clamping unit is joined to the injection unit in the molding machine, or (d) where the two mold halves come together? 13.6 The function of the ejection system is which one of the following: (a) move polymer melt into the mold cavity, (b) open the mold halves after the cavity is filled, (c) remove the molded parts from the runner system after molding, or (d) separate the part from the cavity after molding? 13.7 A three-plate mold offers which of the following advantages when compared to a two-plate mold (two best answers): (a) automatic separation of parts from runners, (b) gating is usually at the base of the part to reduce weld lines, (c) sprue does not solidify, and (d) stronger molded parts? 13.8 Which of the following defects or problems is associated with injection molding (three correct answers): (a) bambooing, (b) die swell, (c) drag flow, (d) flash, (e) melt fracture, (f) short shots, or (g) sink marks? 13.9 In rotational molding, centrifugal force is used to force the polymer melt against the surfaces of the mold cavity where solidification occurs: (a) true or (b) false? 13.10 Use of a parison is associated with which one of the following plastic shaping processes: (a) bi-injection molding, (b) blow molding, (c) compression molding, (d) pressure thermoforming, or (e) sandwich molding? 13.11 A thermoforming mold with a convex form is called which one of the following: (a) a die, (b) a negative mold, (c) a positive mold, or (d) a three-plate mold? 13.12 The term encapsulation refers to which one of the following plastics shaping processes: (a) casting, (b) compression molding, (c) extrusion of hollow forms, (d) injection molding in which a metal insert is encased in the molded part, or (e) vacuum thermoforming using a positive mold? 13.13 The two most common polymer foams are which of the following: (a) polyacetal, (b) polyethylene, (c) polystyrene, (d) polyurethane, and (e) polyvinylchloride? 13.14 In which of the following properties do plastic parts often compare favorably with metals (two best answers): (a) impact resistance, (b) resistance to ultraviolet radiation, (c) stiffness, (d) strength, (e) strength-to-weight ratio, and (f) temperature resistance? 13.15 Which of the following processes are generally limited to thermoplastic polymers (two best answers): (a) blow molding, (b) compression molding, (c) reaction injection molding, (d) thermoforming, (e) transfer molding, and (f) wire coating? 13.16 Which of the following processes would be applicable to produce hulls for small boats (three best answers): (a) blow molding, (b) compression molding, (c) injection molding, (d) rotational molding, and (e) vacuum thermoforming?

If two or more firms were charging similar prices, what types of evidence would you look for to prove that this was collusion rather than coincidence?

Vargo Company has bonds payable outstanding in the amount of $500,000, and the Premium on Bonds Payable account has a balance of $7,500. Each $1,000 bond is convertible into 20 shares of preferred stock of par value of $50 per share. All bonds are converted into preferred stock. Instructions Assuming that the book value method was used, what entry would be made?

: Explain recent historical trends, including the major concepts of systems thinking and the contingency view.

Why is the term pressworking often used for sheet metal processes?

Krauss Company’s income statement for the year ended December 31, 2014, contained the following condensed information. Service revenue $840,000 Operating expenses (excluding depreciation) $624,000 Depreciation expense 60,000 Loss on sale of equipment 26,000 710,000 Income before income taxes 130,000 Income tax expense 40,000 Net income $ 90,000 Krauss’s balance sheet contained the following comparative data at December 31. 2014 2013 Accounts receivable $37,000 $54,000 Accounts payable 41,000 31,000 Income taxes payable 4,000 8,500 (Accounts payable pertains to operating expenses.) Instructions Prepare the operating activities section of the statement of cash flows using the direct method.

Presented below are transactions related to Tom Brokaw, Inc. May 10 Purchased goods billed at $15,000 subject to cash discount terms of 2/10, n/60. 11 Purchasedgoods billed at $13,200 subject to terms of 1/15, n/30. 19 Paid invoice of May 10. 24 Purchasedgoods billed at $11,500 subject to cash discount terms of 2/10, n/30. Instructions (a) Prepare general journal entries for the transactions above under the assumption that purchases are to be recorded at net amounts after cash discounts and that discounts lost are to be treated as financial expense. (b) Assuming no purchase or payment transactions other than those given above, prepare the adjusting entry required on May 31 if financial statements are to be prepared as of that date.

Based on the definition of gross income in §61 and related regulations, what is the general presumption regarding the taxability of income realized?

Based on the definition of gross income in §61, related regulations, and judicial rulings, what are the three criteria for recognizing taxable income?

Describe the concept of realization for tax purposes.