Question & Answer

An 92% aluminum-8% copper alloy casting is made in a sand mold using a sand core that weighs 20 kg. Determine the buoyancy force in Newtons tending to lift the core during pouring. Sand density = 1.6

1.      :  What does nice mean to you? Is being considered nice a good trait for managers to have or is it the kiss of death?

Why is friction generally undesirable in metal forming operations?

1.    : By the time an online or mobile business starts noticeably losing customers, it is often too late to turn things around. If you were the creator of a successful game app, such as Fortnite Battle Royale or League of Legends, how might you know when it was time to pivot so as to keep thriving?

Breslin Inc. made a capital contribution of investment property to its 100 percent-owned subsidiary, Crisler Company. The investment property had a fair market value of $3,000,000 and a tax basis to Breslin of $2,225,000.

Companies following international accounting standards are permitted to revalue fixed assets above the assets’ historical costs. Such revaluations are allowed under various countries’ standards and the standards issued by the IASB. Liberty International, a real estate company headquartered in the United Kingdom (U.K.), follows U.K. standards. In a recent year, Liberty disclosed the following information on revaluations of its tangible fixed assets. The revaluation reserve measures the amount by which tangible fixed assets are recorded above historical cost and is reported in Liberty’s stockholders’ equity. Liberty International Completed Investment Properties Completed investment properties are professionally valued on a market value basis by external valuers at the balance sheet date. Surpluses and deficits arising during the year are reflected in the revalution reserve. Liberty reported the following additional data. Amounts for Kimco Realty (which follows GAAP) in the same year are provided for comparison. Liberty Kimco (pounds sterling, in thousands) (dollars, in millions) Total revenues £ 741 $ 517 Average total assets 5,577 4,696 Net income 125 297 Instructions (a) Compute the following ratios for Liberty and Kimco. (1) Return on assets. (2) Profit margin on sales. (3) Asset turnover. How do these companies compare on these performance measures? (b) Liberty reports a revaluation surplus of £1,952. Assume that £1,550 of this amount arose from an increase in the net replacement value of investment properties during the year. Prepare the journal entry to record this increase. (c) Under U.K. (and IASB) standards, are Liberty’s assets and equity overstated? If so, why? When comparing Liberty to U.S. companies, like Kimco, what adjustments would you need to make in order to have valid comparisons of ratios such as those computed in (a) above?

Identify some of the changes and injuries that can occur at or immediately below the surface of a metal.

For what reasons might the long-run aggregate supply curve be (a) vertical; (b) upward sloping; (c) downward sloping?

What is the unit melting energy in welding, and what are the factors on which it depends?

Treasure Land Corporation incurred the following costs in 2014. Cost of laboratory research aimed at discovery of new knowledge $120,000 Cost of testing in search for product alternatives 100,000 Cost of engineering activity required to advance the design of a product to the manufacturing stage 210,000 $430,000 Prepare the necessary 2014 journal entry or entries for Treasure Land.

Describe the principal methods by which organic coatings are applied to a surface.

Does the kiddie tax apply to all children no matter their age?  Explain.

What is an integrated circuit?

Do the IASB and FASB conceptual frameworks differ in terms of the role of financial reporting? Explain.

1.       : Until Sheryl Sandberg was promoted to chief operating officer of Facebook in 2012, its board was composed of only men. Yet a majority of Facebook’s users are women. Given this demographic, explain how Facebook might benefit from increasing the presence of women on its corporate board.

An electron-beam welding operation will join two pieces of steel plate together. The plates are 1.00 in thick. The unit melting energy is 125 Btu/in3. The diameter of the work area focus of the beam is 0.060 in, hence the width of the weld will be 0.060 in. The accelerating voltage is 30 kV and the beam current is 35 milliamp. The heat transfer factor is 0.70 and the melting factor is 0.55. If the beam moves at a speed of 50 in/min, will the beam penetrate the full thickness of the plates?

A cylindrical billet that is 100 mm long and 50 mm in diameter is reduced by indirect (backward) extrusion to a 20 mm diameter. The die angle is 90°. The Johnson equation has a = 0.8 and b = 1.4, and the flow curve for the work metal has a strength coefficient of 800 MPa and strain hardening exponent of 0.13. Determine (a) extrusion ratio, (b) true strain (homogeneous deformation), (c) extrusion strain, (d) ram pressure, and (e) ram force.

Chemical milling is used in an aircraft plant to create pockets in wing sections made of an aluminum alloy. The starting thickness of one workpart of interest is 20 mm. A series of rectangular-shaped pockets 12 mm deep are to be etched with dimensions 200 mm by 400 mm. The corners of each rectangle are radiused to 15 mm. The part is an aluminum alloy and the etchant is NaOH. The penetration rate for this combination is 0.024 mm/min and the etch factor is 1.75. Determine (a) metal removal rate in mm3/min, (b) time required to etch to the specified depth, and (c) required dimensions of the opening in the cut and peel maskant to achieve the desired pocket size on the part.

This comment appeared in the annual report of MacCloud Inc.: “The Company could pay cash or property dividends on the Class A common stock without paying cash or property dividends on the Class B common stock. But if the Company pays any cash or property dividends on the Class B common stock, it would be required to pay at least the same dividend on the Class A common stock.” How is a property dividend accounted for in the financial records?

Devon Harris Company sells 10% bonds having a maturity value of $2,000,000 for $1,855,816. The bonds are dated January 1, 2014, and mature January 1, 2019. Interest is payable annually on January 1. Instructions Set up a schedule of interest expense and discount amortization under the straight-line method. (Round answers to the nearest cent.)

An intangible asset with an estimated useful life of 30 years was acquired on January 1, 2004, for $540,000. On January 1, 2014, a review was made of intangible assets and their expected service lives, and it was determined that this asset had an estimated useful life of 30 more years from the date of the review. What is the amount of amortization for this intangible in 2014?

Tina Bailey, a student of intermediate accounting, was heard to remark after a class discussion on segment reporting, “All this is very confusing to me. First we are told that there is merit in presenting the consolidated results, and now we are told that it is better to show segmental results. I wish they would make up their minds.” Evaluate this comment.

The designer of a polar configuration robot is considering a portion of the manipulator consisting of a rotational joint connected to its output link. The output link is 25 in long and the rotational joint has a range of 75°. The accuracy of the joint-link combination, expressed as a linear measure at the end of the link which results from rotating the joint, is specified as 0.030 in. The mechanical inaccuracies of the joint result in a repeatability error = ±0.030° of rotation. It is assumed that the link is perfectly rigid, so there are no additional errors due to deflection. (a) Show that the specified accuracy can be achieved, given the repeatability error. (b) Determine the minimum number of bits required in the binary register of the robot's control memory to achieve the specified accuracy.

Malone Company determined its ending inventory at cost and at lower-of-cost-or-market at December 31, 2013, December 31, 2014, and December 31, 2015, as shown below. Cost Lower-of-Cost-or-Market 12/31/13 $650,000 $650,000 12/31/14 780,000 712,000 12/31/15 905,000 830,000 Instructions (a) Prepare the journal entries required at December 31, 2014, and at December 31, 2015, assuming that the cost-of-goods-sold method of adjusting to lower-of-cost-or-market is used. (b) Prepare the journal entries required at December 31, 2014, and at December 31, 2015, assuming that the loss method of adjusting to lower-of-cost-or-market is used.

What is meant by the paradox of aggregates? Of what importance might they be for how we analyse macroeconomic problems?