Question & Answer

A hot rolling mill has rolls of diameter = 24 in. It can exert a maximum force = 400,000 lb. The mill has a maximum horsepower = 100 hp. It is desired to reduce a 1.5 in thick plate by the maximumpossible draft in one pass. The starting plate is 10 in wide. In the heated condition, the work material has a strength coefficient = 20,000 lb/in2 and a strain hardening exponent = zero. Determine (a) maximum possible draft, (b) associated true strain, and (c) maximum speed of the rolls for the operation

At December 31, 2014, Higley Corporation has one temporary difference which will reverse and cause taxable amounts in 2015. In 2014, a new tax act set taxes equal to 45% for 2014, 40% for 2015, and 34% for 2016 and years thereafter. Instructions Explain what circumstances would call for Higley to compute its deferred tax liability at the end of 2014 by multiplying the cumulative temporary difference by: (a) 45%. (b) 40%. (c) 34%.

The financial statements of P&G are presented in Appendix 5B. The company’s complete annual report, including the notes to the financial statements, can be accessed at the book’s companion website, www. wiley.com/college/kieso. Instructions Refer to P&G’s financial statements and accompanying notes to answer the following questions. (a) Under P&G’s stock-based compensation plan, stock options are granted annually to key managers and directors. (1) How many options were granted during 2011 under the plan? (2) How many options were exercisable at June 30, 2011? (3) How many options were exercised in 2011, and what was the average price of those exercised? (4) How many years from the grant date do the options expire? (5) To what accounts are the proceeds from these option exercises credited? (6) What was the number of outstanding options at June 30, 2011, and at what average exercise price? (b) What number of diluted weighted-average common shares outstanding was used by P&G in computing earnings per share for 2011, 2010, and 2009? What was P&G’s diluted earnings per share in 2011, 2010, and 2009? (c) What other stock-based compensation plans does P&G have?

Explain how the conversion feature of convertible debt has a value (a) to the issuer and (b) to the purchaser.

Why does Congress provide tax deferral on the formation of a corporation?

Callaway Golf Co. leases telecommunication equipment. Assume the following data for equipment leased from Photon Company. The lease term is 5 years and requires equal rental payments of $31,000 at the beginning of each year. The equipment has a fair value at the inception of the lease of $138,000, an estimated useful life of 8 years, and no residual value. Callaway pays all executory costs directly to third parties. Photon set the annual rental to earn a rate of return of 10%, and this fact is known to Callaway. The lease does not transfer title or contain a bargain-purchase option. How should Callaway classify this lease?

74. Fizbo Corporation is in the business of breeding and racing horses. Fizbo has taxable income of $5,000,000 other than from these transactions. It has nonrecaptured §1231 losses of $10,000 from 2020 and $13,000 from 2018.    Consider the following transactions that occur during 2024: a. A building with an adjusted basis of $300,000 is totally destroyed by fire. Fizbo receives insurance proceeds of $400,000 but does not plan to replace the building. The building was built 12 years ago at a cost of $420,000 and was used to provide lodging for employees.  b. Fizbo sells four acres of undeveloped farmland (used for grazing) for $50,000. Fizbo purchased the land 15 years ago for $15,000. c. Fizbo sells a racehorse for $250,000. The racehorse was purchased four years ago for $200,000. Total depreciation taken on the racehorse was $160,000.  d. Fizbo exchanges equipment that was purchased three years ago for $300,000 for $100,000 of IBM common stock. The adjusted basis of the equipment is $220,000. If straight-line depreciation had been used, the adjusted basis would be $252,000. e. On November 1, Fizbo sold XCON stock for $50,000. Fizbo had purchased the stock on December 12, 2023, for $112,000.   Part (1): After all netting is complete, what is Fizbo’s total amount of income from these transactions to be treated as ordinary income or loss? What is its capital gain or loss?   Part (2):  What is Fizbo’s taxable income for the year after including the effects of these transactions?

What is the difference between a track and a land on a printed circuit board?

Could US action to protect its steel industry from foreign competition be justified in terms of the interests of the USA as a whole (as opposed to the steel industry in particular)?

Use the information provided in BE12-7. Assume that the fair value of the division is estimated to be $750,000 and the implied goodwill is $350,000. Prepare Waters’ journal entry, if necessary, to record impairment of the goodwill.

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

According to the video on composites, list the primary purpose of the matrix and the reinforcement in a composite.

What was the growth rate in manufacturing output from (a) 2005 to 2006; (b) 2008 to 2009; 2019 to 2020?

List the most common allocation bases used in job costing and explain under what circumstances each base would be most appropriate.

1.       : Big data analytics programs (which analyze massive data sets to make decisions) use gigantic computing power to quantify trends that would be beyond the grasp of human observers. As the use of this quantitative analysis increases, do you think it may decrease the “humanity of production” in organizations? Why?

Distinguish between perfect and imperfect security markets. Explain why the existence of imperfect markets creates a need for financial intermediaries. (LO3)

Richardson Company is contemplating the establishment of a share-based compensation plan to provide long-run incentives for its top management. However, members of the compensation committee of the board of directors have voiced some concerns about adopting these plans, based on news accountsrelated to a recent accounting standard in this area. They would like you to conduct some research on this recent standard so they can be better informed about the accounting for these plans. Instructions Access the IFRS authoritative literature at the IASB website (http://eifrs.iasb.org/). (Click on the IFRS tab and then register for free eIFRS access if necessary.) When you have accessed the documents, you can use the search tool in your Internet browser to respond to the following questions. (Provide paragraph citations.) (a) Identify the authoritative literature that addresses the accounting for share-based payment compensation plans. (b) Briefly discuss the objectives for the accounting for share-based compensation. What is the role of fair value measurement? (c) The Richardson Company board is also considering an employee share-purchase plan, but the Board does not want to record expense related to the plan. What are the IFRS requirements for the accounting for an employee share-purchase plan?

Indicate whether the following items are capitalized or expensed in the current year. (a) Purchase cost of a patent from a competitor. (c) Organizational costs. (b) Research and development costs. (d) Costs incurred internally to create goodwill.

The financial statements of Marks and Spencer plc (M&S) are available at the book’s companion website or can be accessed at http://annualreport.marksandspencer.com/_assets/downloads/ Marks-and-Spencer-Annual-report-and-financial-statements-2012.pdf. Instructions Refer to M&S’s financial statements and the accompanying notes to answer the following questions. (a) Under M&S’s share-based compensation plan, share options are granted annually to key managers and directors. (1) How many options were granted during 2012 under the plan? (2) How many options were exercisable at 31 March 2012? (3) How many options were exercised in 2012, and what was the average price of those exercised? (4) How many years from the grant date do the options expire? (5) To what accounts are the proceeds from these option exercises credited? (6) What was the number of outstanding options at 31 March 2012, and at what average exercise price? (b) What number of diluted weighted-average shares outstanding was used by M&S in computing earnings per share for 2012 and 2011? What was M&S’s diluted earnings per share in 2012 and 2011? (c) What other share-based compensation plans does M&S have?

Instructions Go to the book’s companion website and use information found there to answer the following questions related to The Coca-Cola Company and PepsiCo, Inc. (a) What employee stock-option compensation plans are offered by Coca-Cola and PepsiCo? (b) How many options are outstanding at year-end 2011 for both Coca-Cola and PepsiCo? (c) How many options were granted by Coca-Cola and PepsiCo to officers and employees during 2011? (d) How many options were exercised during 2011? (e) What was the average exercise price for Coca-Cola and PepsiCo employees during 2011? (f) What are the weighted-average number of shares used by Coca-Cola and PepsiCo in 2011, 2010, and 2009 to compute diluted earnings per share? (g) What was the diluted net income per share for Coca-Cola and PepsiCo for 2011, 2010, and 2009?

Chandra was the sole shareholder of Pet Emporium, which was originally formed as an S corporation.  When Pet Emporium terminated its S election on August 31, 2023, Chandra had a stock basis and an at-risk amount of $0.  Chandra also had a suspended loss from Pet Emporium of $9,000. What amount of the suspended loss is Chandra allowed to deduct, and what is her basis in her Pet Emporium stock at the end of the post-termination transition period under the following alternative scenarios (assume Pet Emporium files for an extension to file its tax returns)?   a. Chandra makes capital contributions of $7,000 on August 30, 2024, and $4,000 on September 14, 2024.

1.       : Why do you think research has found that women receive less harsh feedback than men during performance reviews? How might that affect a woman’s career? Explain.

What is a carbon nanotube?

Last December 31, Ramon sold the 10 percent interest in the Del Sol Partnership, which he had held for two years to Garrett for $400,000. Prior to selling his interest, Ramon’s basis in Del Sol was $200,000, which included a $100,000 share of nonrecourse liabilities allocated to him. a. What is Garrett’s tax basis in his partnership interest? b. If Garrett sells his partnership interest three months after receiving it and recognizes a gain, what is the character of his gain?

In the equation for Rent's rule with C = 4.5 and m = 0.5, determine the value of nio and nc at which the number of logic gates equals the number of I/O terminals in the package.