Question & Answer

Name the four subsystems in a wire EDM process.

Isabel, a calendar-year taxpayer, uses the cash method of accounting for her sole proprietorship. In late December she received a $20,000 bill from her accountant for consulting services related to her small business. Isabel can pay the $20,000 bill anytime before January 30 of next year without penalty. Assume her marginal tax rate is 37 percent this year and next year, and that she can earn an after-tax rate of return of 12 percent on her investments. When should she pay the $20,000 bill—this year or next?

How are deferred tax assets and deferred tax liabilities reported on the statement of financial position under IFRS?

What are the two basic types of clamping units?

What are the possible treatments for tax purposes of a net operating loss? What are the circumstances that determine the option to be applied? What is the proper treatment of a net operating loss for financial reporting purposes?

Surface roughness is a measurable aspect of surface texture; what does surface roughness mean?

Suppose the cutting speed in Problems 21.7 and 21.8 is 200 ft/min. From your answers to those problems, find (a) the horsepower consumed in the operation, (b) metal removal rate in in3 /min, (c) unit horsepower (hp-min/in3 ), and (d) the specific energy (in-lb/in3 )

Use the information for Rode Inc. given in IFRS19-7. Assume that it is probable that the entire net operating loss carryforward will not be realized in future years. Prepare the journal entry(ies) necessary at the end of 2014.

There are 17 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, and each 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. 7.1 Which one of the following is the most common element in the earth's crust: (a) aluminum, (b) calcium, (c) iron, (d) oxygen, or (e) silicon? 7.2 Glass products are based primarily on which one of the following minerals: (a) alumina, (b) corundum, (c) feldspar, (d) kaolinite, or (e) silica? 7.3 Which of the following contains significant amounts of aluminum oxide (three correct answers): (a) alumina, (b) bauxite, (c) corundum, (d) feldspar, (e) kaolinite, (f) quartz, (g) sandstone, and (h) silica? 7.4 Which of the following ceramics are commonly used as abrasives in grinding wheels (two best answers): (a) aluminum oxide, (b) calcium oxide, (c) carbon monoxide, (d) silicon carbide, and (e) silicon dioxide? 7.5 Which one of the following is generally the most porous of the clay-based pottery ware: (a) china, (b) earthenware, (c) porcelain, or (d) stoneware? 7.6 Which one of the following is fired at the highest temperatures: (a) china, (b) earthenware, (c) porcelain, or (d) stoneware? 7.7 Which one of the following comes closest to expressing the chemical composition of clay: (a) Al2O3, (b) Al2(Si2O5)(OH)4, (c) 3AL2O3-2SiO2, (d) MgO, or (e) SiO2? 7.8 Glass ceramics are polycrystalline ceramic structures that have been transformed into the glassy state: (a) true or (b) false? 7.9 Which one of the following materials is closest to diamond in hardness: (a) aluminum oxide, (b) carbon dioxide, (c) cubic boron nitride, (d) silicon dioxide, or (e) tungsten carbide? 7.10 Which of the following best characterizes the structure of glass-ceramics: (a) 95% polycrystalline, (b) 95% vitreous, or (b) 50% polycrystalline? 7.11 Properties and characteristics of the glass-ceramics include which of the following (two best answers): (a) efficiency in processing, (b) electrical conductor, (c) high thermal expansion, and (d) strong, relative to other glasses? 7.12 Diamond is the hardest material known: (a) true or (b) false? 7.13 Synthetic diamonds date to (a) ancient times, (b) 1800s, (c) 1950s, or (d) 1980.

1.       A management professor once said that for successful management, studying the present was most important, studying the past was next most important, and studying the future should come last. Do you agree? Why?

Describe structural-foam molding.

Explain why the price of a good is no reflection of the total value that consumers put on it.

What is the difference between a notching operation and a seminotching operation?

A bend test is used for a certain hard material. If the transverse rupture strength of the material is known to be 1000 MPa, what is the anticipated load at which the specimen is likely to fail, given that its width = 15 mm, thickness = 10 mm, and length = 60 mm?

What are the arguments for giving separate accounting recognition to the conversion feature of debentures?

Explain how the credit crisis that began in 2008 affected the default rates of junk bonds and the risk premiums offered on newly issued junk bonds. (LO2)

Yesenia is a lawyer who uses the cash method of accounting. Last year Yesenia provided a client with legal services worth $55,000, but the client could not pay the fee. This year Yesenia requested that in lieu of paying Yesenia $55,000 for the services, the client could make a $45,000 gift to Yesenia’s daughter. Yesenia’s daughter received the check for $45,000 and deposited it in her bank account. How much of this income is taxed, if any, to Yesenia? Explain.

An alloy steel Metric 10x1.5 screw (10 mm diameter, pitch p = 1.5 mm) is to be turned into a threaded hole and tightened to one/half of its proof strength. According to Table 32.2, the proof strength = 830 MPa. Determine the maximum torque that should be used if the torque coefficient = 0.18.

Assume a calendar-year corporation has positive current E&P of $120 and a deficit in accumulated E&P of ($200). Under this circumstance, a cash distribution of $100 to the corporation’s sole shareholder at year-end will not be treated as a dividend because total E&P is negative. True or false? Explain.

Taxable income and pretax financial income would be identical for Huber Co. except for its treatments of gross profit on installment sales and estimated costs of warranties. The income computations shown on page 1164 have been prepared. Taxable income 2013 2014 2015 Excess of revenues over expenses  excluding two temporary differences) $160,000 $210,000 $90,000 Installment gross profi t collected 8,000 8,000 8,000 Expenditures for warranties (5,000) (5,000) (5,000) Taxable income $163,000 $213,000 $93,000 Pretax fi nancial income 2013 2014 2015 Excess of revenues over expenses (excluding two temporary differences) $160,000 $210,000 $90,000 Installment gross profi t earned 24,000 –0– –0– Estimated cost of warranties (15,000) –0– –0– Income before taxes $169,000 $210,000 $90,000 The tax rates in effect are 2013, 40%; 2014 and 2015, 45%. All tax rates were enacted into law on January 1, 2013. No deferred income taxes existed at the beginning of 2013. Taxable income is expected in all future years. Instructions Prepare the journal entry to record income tax expense, deferred income taxes, and income taxes payable for 2013, 2014, and 2015.

What are some of the reasons why surfaces are important?

McElroy Company has the following portfolio of investment securities at September 30, 2014, its last reporting date. Trading Securities Cost Fair Value Horton, Inc. common (5,000 shares) $215,000 $200,000 Monty, Inc. preferred (3,500 shares) 133,000 140,000 Oakwood Corp. common (1,000 shares) 180,000 179,000 On October 10, 2014, the Horton shares were sold at a price of $54 per share. In addition, 3,000 shares of Patriot common stock were acquired at $54.50 per share on November 2, 2014. The December 31, 2014, fair values were Monty $106,000, Patriot $132,000, and the Oakwood common $193,000. All the securities are classified as trading. Instructions (a) Prepare the journal entries to record the sale, purchase, and adjusting entries related to the trading securities in the last quarter of 2014. (b) How would the entries in part (a) change if the securities were classified as available-for-sale?

Twenty-five jewelry pieces, each with a surface area = 0.5 in2 are to be gold plated in a batch plating operation. (a) What average plating thickness will result if 8 amps are applied for 10 min in a cyanide bath? (b) What is the value of the gold that will be plated onto each piece if one ounce of gold is valued at $900? The density of gold = 0.698 lb/in3

Emily and Tony are recently married college students.Can Emily qualify as her parents’ dependent? Explain.

Describe a scanning laser system.