Question 2
Wilco Corporation has the following account balances at December 31, 2014.
Common stock, $5 par value
$510,000
Treasury stock
90,000
Retained earnings
2,340,000
Paid-in capital in excess of par—common stock
1,320,000
Prepare Wilco’s December 31, 2014, stockholders’ equity section. (Enter account name only and do not provide descriptive information.)
WILCO CORPORATION
Stockholders’ Equity
December 31, 2014
$
:
$
Question 4
Ravonette Corporation issued 300 shares of $10 par value common stock and 100 shares of $50 par value preferred stock for a lump sum of $13,500. The common stock has a market price of $20 per share, and the preferred stock has a market price of $90 per share.
Prepare the journal entry to record the issuance. (Round answers to 0 decimal places, e.g., 1520. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)
Account Titles and Explanation
Debit
Credit
Question 5
The outstanding capital stock of Edna Millay Corporation consists of 2,000 shares of $100 par value, 8% preferred, and 5,000 shares of $50 par value common.
Assuming that the company has retained earnings of $90,000, all of which is to be paid out in dividends, and that preferred dividends were not paid during the 2 years preceding the current year, state how much each class of stock should receive under each of the following conditions.
(a) The preferred stock is noncumulative and nonparticipating. (Round answers to 0 decimal places, e.g. $38,487.)
Preferred
Common
$
$
(b) The preferred stock is cumulative and nonparticipating. (Round answers to 0 decimal places, e.g. $38,487.)
Preferred
Common
$
$
(c) The preferred stock is cumulative and participating. (Round the rate of participation to 4 decimal places, e.g.1.4278%. Round answers to 0 decimal places, e.g. $38,487.)
Preferred
Common
$
$
Matt Schmidt Company’s ledger shows the following balances on December 31, 2014.
7% Preferred Stock—$10 par value, outstanding 20,000 shares
$ 200,000
Common Stock—$100 par value, outstanding 30,000 shares
3,000,000
Retained Earnings
630,000
Assuming that the directors decide to declare total dividends in the amount of $366,000, determine how much each class of stock should receive under each of the conditions stated below. One year‘s dividends are in arrears on the preferred stock.
(a) The preferred stock is cumulative and fully participating. (Round the rate of participation to 4 decimal places, e.g.1.4278%. Round answers to 0 decimal places, e.g. $38,487.)
Preferred
Common
$
$
(b) The preferred stock is noncumulative and nonparticipating. (Round answers to 0 decimal places, e.g. $38,487.)
Preferred
Common
$
$
(c) The preferred stock is noncumulative and is participating in distributions in excess of a 10% dividend rate on the common stock. (Round the rate of participa ...
Exercise 8-15Shania Twain Company was formed on December 1, 2013.docxgitagrimston
Exercise 8-15
Shania Twain Company was formed on December 1, 2013. The following information is available from Twain’s inventory records for Product BAP.
Units
Unit Cost
January 1, 2014 (beginning inventory)
600
$ 8
Purchases:
January 5, 2014
1,200
9
January 25, 2014
1,300
10
February 16, 2014
800
11
March 26, 2014
600
12
A physical inventory on March 31, 2014, shows 1,600 units on hand.
Prepare schedules to compute the ending inventory at March 31, 2014, under FIFO inventory methods. (Round answer to 0 decimal places, e.g. 2,760.)
FIFO
Ending Inventory at March 31, 2014
$
Prepare schedules to compute the ending inventory at March 31, 2014, under LIFO inventory methods. (Round answer to 0 decimal places, e.g. 2,760.)
LIFO
Ending Inventory at March 31, 2014
$
Calculate average-cost per unit. (Round answer to 2 decimal places, e.g. 2.76.)
Weighted average-cost per unit
$
Prepare schedules to compute the ending inventory at March 31, 2014, under Weighted-average inventory methods. (Round answer to 0 decimal places, e.g. 2,760.)
Weighted-Average
Ending Inventory at March 31, 2014
$
Brief Exercise 9-2
Floyd Corporation has the following four items in its ending inventory.
Item
Cost
ReplacementCost
Net RealizableValue (NRV)
NRV less NormalProfit Margin
Jokers
$2,000
$2,050
$2,100
$1,600
Penguins
5,000
5,100
4,950
4,100
Riddlers
4,400
4,550
4,625
3,700
Scarecrows
3,200
2,990
3,830
3,070
Determine the final lower-of-cost-or-market inventory value for each item.
Jokers
$
Penguins
Riddlers
Scarecrows
Exercise 9-12
Mark Price Company uses the gross profit method to estimate inventory for monthly reporting purposes. Presented below is information for the month of May.
Inventory, May 1
$ 160,000
Purchases (gross)
640,000
Freight-in
30,000
Sales revenue
1,000,000
Sales returns
70,000
Purchase discounts
12,000
(a) Compute the estimated inventory at May 31, assuming that the gross profit is 30% of sales.
The estimated inventory at May 31
$
(b) Compute the estimated inventory at May 31, assuming that the gross profit is 30% of cost. (Round percentage of sales to 2 decimal places, e.g. 78.74% and final answer to 0 decimal places, e.g. 6,225.)
The estimated inventory at May 31
$
Brief Exercise 10-8
Navajo Corporation traded a used truck (cost $20,000, accumulated depreciation $18,000) for a small computer worth $3,300. Navajo also paid $500 in the transaction.
Prepare the journal entry to record the exchange. (The exchange has commercial substance.) (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)
Account Titles and Explanation
Debit
Credit
Brief Exercise 10-10
Mehta Company traded a used welding machine (cost $9,000, accumulated depreciation $3,000) for office equipment wi ...
Wilco Corporation has the following account balances at December 3.docxalanfhall8953
Wilco Corporation has the following account balances at December 31, 2012.
Common stock, $5 par value
$555,600
Treasury stock
90,720
Retained earnings
2,426,200
Paid-in capital in excess of par—common stock
1,321,900
Prepare Wilco’s December 31, 2012, stockholders’ equity section. (For preferred stock, common stock and treasury stock enter the account name only and do not provide the descriptive information provided in the question.)
WILCO CORPORATION
Stockholders’ Equity
December 31, 2012
$
:
$
Sprinkle Inc. has outstanding 10,050 shares of $10 par value common stock. On July 1, 2012, Sprinkle reacquired 107 shares at $89 per share. On September 1, Sprinkle reissued 61 shares at $90 per share. On November 1, Sprinkle reissued 46 shares at $85 per share.
Prepare Sprinkle’s journal entries to record these transactions using the cost method. (If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually.)
Date
Account Titles and Explanation
Debit
Credit
7/1/12
9/1/12
11/1/12
Graves Mining Company declared, on April 20, a dividend of $519,800, on its $5 par common stock, payable on June 1. Of this amount, $133,700 is a return of capital.
Prepare the April 20 and June 1 entries for Graves. (If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually.)
Date
Account Titles and Explanation
Debit
Credit
Apr. 20
June 1
Apr. 20 Retained Earnings = ($519,800 – $133,700) = $386,100
Abernathy Corporation was organized on January 1, 2012. It is authorized to issue 10,290 shares of 8%, $65 par value preferred stock, and 544,000 shares of no-par common stock with a stated value of $2 per share. The following stock transactions were completed during the first year.
Jan. 10
Issued 80,330 shares of common stock for cash at $6 per share.
Mar. 1
Issued 5,670 shares of preferred stock for cash at $113 per share.
Apr. 1
Issued 24,730 shares of common stock for land. The asking price of the land was $90,540; the fair value of the land was $80,330.
May 1
Issued 80,330 shares of common stock for cash at $9 per share.
Aug. 1
Issued 10,290 shares of common stock to attorneys in payment of their bill of $50,620 for services rendered in helping the company organize.
Sept. 1
Issued 10,290 shares of common stock for cash at $11 per share.
Nov. 1
Issued 1,940 shares of preferred stock for cash at $115 per share.
Prepare the journal entries to record the above transactions. (If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually.)
Date
Account Titles and Explanation
Debit
Credit
Jan. 10
M.
Problem 1Problem 1 - Constant-Growth Common StockWhat is the value.docxChantellPantoja184
Problem 1Problem 1 - Constant-Growth Common StockWhat is the value of a common stock if the firm's earnings and dividends are growing annually at 10%, the current dividend is $1.32,and investors require a 15% return on investment?What is the stock's rate of return if the market price of the stock is $35?
Problem 2Problem 2 - Preferred Stock Price and ReturnA firm has preferred stock outstanding with a $1,000 par value and a $40 annual dividend with no maturity. If the required rate of return is 9%, what is the price of the preferred stock?The market price of a firm's preferred stock is $24 and pays an annual dividend of $2.50. If the stock's par value is $1,000 and it has no maturity, what is the return on the preferred stock?
Problem 3Problem 3 - Bond Valuation and YieldA bond has a par value of $1,000, pays $50 semiannually and has a maturity of 10 years.If the bond earns 12% per year, what is the price of the bond?RateNperPMTFVTypePVWhat is the yield to maturity for the bond?NperPMTPVFVTypeRateWhat would be the bond's price if the rate earned declined to 8% per year?RateNperPMTFVTypePVIf the maturity period is reduced to 5 years and the required rate of return is 8%, what would be the price of the bond?RateNperPMTFVTypePVWhat is the yield to maturity for the bond when the maturity is 5 years and the required rate of return is 8%?NperPMTPVFVTypeRateWhat generalizations about bond prices, interest rates and maturity periods can be made based on the calculations made above?
Problem 4Problem 4 - Callable BondsThe following bonds have a par value of $1,000 and the required rate of return is 10%.Bond XY: 5¼ percent coupon, with interest paid annually for 20 yearsBond AB: 14 percent coupon, with interest paid annually for 20 yearsWhat is each bond's current market price?Bond XYBond ABRateNperPMTFVTypePVIf current interest rates are 9%, which bond would you expect to be called? Explain.
Exercise 10-5
During the month of March, Olinger Company’s employees earned wages of $69,500. Withholdings related to these wages were $5,317 for Social Security (FICA), $8,145 for federal income tax, $3,366 for state income tax, and $434 for union dues. The company incurred no cost related to these earnings for federal unemployment tax but incurred $760 for state unemployment tax.
Prepare the necessary March 31 journal entry to record salaries and wages expense and salaries and wages payable. Assume that wages earned during March will be paid during April. (Credit account titles are automatically indented when amount is entered. Do not indent manually.)
Date
Account Titles and Explanation
Debit
Credit
Mar. 31
SHOW LIST OF ACCOUNTS
LINK TO TEXT
Prepare the entry to record the company’s payroll tax expense. (Credit account titles are automatically indented when amount is entered. Do not indent manually.)
Date
Account Titles and Explanation
Debit
Credit
Mar. 31
===========================================
E.
Fred and George have been in partnership for many years. The partn.docxbudbarber38650
Fred and George have been in partnership for many years. The partners, who share profits and losses on a 60:40 basis, respectively, wish to retire and have agreed to liquidate the business. Liquidation expenses are estimated to be $10,000. At the date the partnership ceases operations, the balance sheet is as follows:
Cash
$
100,000
Liabilities
$
80,000
Noncash assets
200,000
Fred, capital
100,000
George, capital
120,000
Total assets
$
300,000
Total liabilities and capital
$
300,000
1.
Prepare journal entries for the following transactions: (Do not round intermediate calculations. If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)
a.
Distributed safe cash payments to the partners.
b.
Paid $40,000 of the partnership’s liabilities.
c.
Sold noncash assets for $220,000.
d.
Distributed safe cash payments to the partners.
e.
Paid all remaining partnership liabilities of $40,000.
f.
Paid $8,000 in liquidation expenses; no further expenses will be incurred.
g.
Distributed remaining cash held by the business to the partners.
Ex. 2
A local partnership is to be liquidated. Commissions and other liquidation expenses are expected to total $19,000. The business’s balance sheet prior to the commencement of liquidation is as follows:
Cash
$ 27,000
Liabilities
$ 40,000
Noncash assets
254,000
Simpson, capital (20%)
18,000
Hart, capital (40%)
40,000
Bobb, capital (20%)
48,000
Reidl, capital (20%)
135,000
Total assets
$281,000
Total liabilities and capital
$281,000
Prepare a predistribution plan for this partnership.
Partner
Capital Balance
Loss Allocation
Maximum loss that can be absorb
Schedule 1
Sampson
Hart
Bobb
Reidl
Schedule 2
Hart
Bobb
Reidl
Schedule 3
Bobb
Reidl
Sampson
Hart
Bobb
Reidl
Reported balances
Assumed loss
Schedule 1
Adjusted Balances
Assumed loss
Schedule 2
Adjusted balances
Assumed loss
Schedule 3
Adjusted balances
EX. 3
The Prince-Robbins partnership has the following capital account balances on January 1, 2015:
Prince, Capital
$
70,000
Robbins, Capital
60,000
Prince is allocated 80 percent of all profits and losses with the remaining 20 percent assigned to Robbins after interest of 10 percent is given to each partner based on beginning capital balances.
On January 2, 2015, Jeffrey invests $37,000 cash for a 20 percent interest in the partnership. This transaction is recorded by the goodwill method. After this transaction, 10 percent interest is still to go to each partner. Profits and losses will then be split as follows: Prince (50%), Robbins (30%), and Jeffrey (20%). In 2015, the partnership reports a net income of $15,000.
a.
Prepare the journal entry to record Jeffrey entrance into the partnership on January 2, 2015. (If no entry .
On January 1, 2014, Gottlieb Corporation issued $4,360,000 of 10-y.docxhopeaustin33688
On January 1, 2014, Gottlieb Corporation issued $4,360,000 of 10-year, 8% convertible debentures at 104. Interest is to be paid semiannually on June 30 and December 31. Each $1,000 debenture can be converted into 9 shares of Gottlieb Corporation $104 par value common stock after December 31, 2015.
On January 1, 2016, $436,000 of debentures are converted into common stock, which is then selling at $116. An additional $436,000 of debentures are converted on March 31, 2016. The market price of the common stock is then $119. Accrued interest at March 31 will be paid on the next interest date.
Bond premium is amortized on a straight-line basis.
Make the necessary journal entries for:
(a)
December 31, 2015.
(c)
March 31, 2016.
(b)
January 1, 2016.
(d)
June 30, 2016.
Record the conversions using the book value method. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Round answers to 0 decimal places, e.g. 5,275.)
No.
Date
Account Titles and Explanation
Debit
Credit
(a)
Dec. 31, 2015
(b)
Jan. 1, 2016
(c)
Mar. 31, 2016
(To record interest expense)
Mar. 31, 2016
(To record the conversion)
(d)
Jun. 30, 2016
Exercise 16-7
Illiad Inc. has decided to raise additional capital by issuing $176,800 face value of bonds with a coupon rate of 11%. In discussions with investment bankers, it was determined that to help the sale of the bonds, detachable stock warrants should be issued at the rate of one warrant for each $100 bond sold. The value of the bonds without the warrants is considered to be $148,320, and the value of the warrants in the market is $16,480. The bonds sold in the market at issuance for $162,000.
(a) What entry should be made at the time of the issuance of the bonds and warrants? (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)
Account Titles and Explanation
Debit
Credit
(b) Prepare the entry if the warrants were nondetachable. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)
Account Titles and Explanation
Debit
Credit
Exercise 16-10
On November 1, 2014, Olympic Company adopted a stock-option plan that granted options to key executives to purchase 66,500 shares of the company’s $13 par value common stock. The options were granted on January 2, 2015, and were exercisable 2 years after the date of grant if the grantee was still an employee of the company. The options expired 6 years from date of grant. The option price was set at $50, and the fair value option-pricing model determines the total comp.
WEEK 2HW Due in LEO no later than 1100 PM on 30-AUG-2015 U.S.docxmelbruce90096
WEEK 2
H/W
Due in LEO no later than 11:00 PM on 30-AUG-2015 U.S. Eastern Time (Washington, DC)
Brief Exercise 15-1
Moby Inc. is considering two alternatives to finance its construction of a new $1.60 million plant.
(a)
Issuance of 160,000 shares of common stock at the market price of $10 per share.
(b)
Issuance of $1,600,000, 8% bonds at face value.
Complete the following table. (Round earnings per share to 2 decimal places, e.g. 0.25.)
Issue Stock
Issue Bond
Income before interest and taxes
$701,100
$701,100
Interest expense from bonds
Income before income taxes
Income tax expense (25%)
Net income
$
$
Outstanding shares
541,100
Earnings per share
$
$
Indicate which alternative is preferable.
Net income is if stock is used. However, earnings per share is than earnings per share if bonds are used because of the additional shares of stock that are outstanding.
Brief Exercise 15-2
Meera Corporation issued 3,770, 7%, 5-year, $1,000 bonds dated January 1, 2014, at 100.
Prepare the journal entry to record the sale of these bonds on January 1, 2014. (Credit account titles are automatically indented when amount is entered. Do not indent manually.)
Date
Account Titles and Explanation
Debit
Credit
Jan. 1
Top of Form
Bottom of Form
Prepare the journal entry to record the first interest payment on July 1, 2014 (interest payable semiannually), assuming no previous accrual of interest. (Credit account titles are automatically indented when amount is entered. Do not indent manually.)
Date
Account Titles and Explanation
Debit
Credit
July 1
Bottom of Form
Prepare the adjusting journal entry on December 31, 2014, to record interest expense. (Credit account titles are automatically indented when amount is entered. Do not indent manually.)
Date
Account Titles and Explanation
Debit
Credit
Dec. 31
Bottom of Form
Brief Exercise 15-4
Frankum Company has issued three different bonds during 2014. Interest is payable semiannually on each of these bonds.
1.
On January 1, 2014, 1,110, 7%, 5-year, $1,200 bonds dated January 1, 2014, were issued at face value.
2.
On July 1, $726,200, 8%, 5-year bonds dated July 1, 2014, were issued at 104.
3.
On September 1, $315,400, 6%, 5-year bonds dated September 1, 2014, were issued at 98.
Prepare the journal entries to record each bond transaction at the date of issuance. (Credit account titles are automatically indented when amount is entered. Do not indent manually.)
Date
Account Titles and Explanation
Debit
Credit
Jan. 1
July 1
Sept. 1
Brief Exercise 16-1
Ownbey Corporation purchased debt investments for $47,020 on January 1, 2014. On July 1, 2014, Ownbey received cash interest of $3,800.
Journalize the purchase and the receipt of interest. Assume that no interest has been accrued. (Credit account titles are automatically indented when amount is entered..
ill in the dollar changes caused in the Investment account and Div.docxgordienaysmythe
ill
in the dollar changes caused in the Investment account and Dividend Revenue or Investment Revenue account by each of the following transactions, assuming Crane Company uses (a) the fair value method and (b) the equity method for accounting for its investments in Hudson Company.
(Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45). Do not leave any answer field blank. Enter 0 for amounts.)
(a) Fair Value Method
(b) Equity Method
Transaction
Investment Account
Dividend Revenue
Investment Account
Investment Revenue
1.
At the beginning of Year 1, Crane bought 25% of Hudson's common stock at its book value. Total book value of all Hudson's common stock was $850,000 on this date.
2.
During Year 1, Hudson reported $54,000 of net income and paid $27,000 of dividends.
3.
During Year 2, Hudson reported $31,500 of net income and paid $20,000 of dividends.
4.
During Year 3, Hudson reported a net loss of $12,000 and paid $3,800 of dividends.
5.
Indicate the Year 3 ending balance in the Investment account, and cumulative totals for Years 1, 2, and 3 for dividend revenue and investment revenue.
Exercise 122 (Part Level Submission)
The following information is available for Irwin Company for 2018:
Net Income
$119,000
Realized gain on sale of available-for-sale debt securities
10,000
Unrealized holding gain arising during the period on available-for-sale debt securities
30,000
Reclassification adjustment for gains included in net income
7,500
(a)
Determine other comprehensive income for 2018.
Other comprehensive income
$
Exercise 123
On January 2, 2018, Tylor Company issued a 4-year, $600,000 note at 8% fixed interest, interest payable semiannually. Tylor now wants to change the note to a variable rate note. As a result, on January 2, 2018, Tylor Company enters into an interest rate swap where it agrees to receive 8% fixed and pay LIBOR of 5.5% for the first 6 months on $600,000. At each 6-month period, the variable interest rate will be reset. The variable rate is reset to 6.6% on June 30, 2018.
Compute the net interest expense to be reported for this note and related swap transaction as of June 30, 2018.
Net interest expense
$
LINK TO TEXT
Compute the net interest expense to be reported for this note and related swap transaction as of December 31, 2018.
Net interest expense
$
Brief Exercise 17-2
Pina Company purchased, on January 1, 2017, as an available-for-sale security, $65,000 of the 8%, 5-year bonds of Chester Corporation for $60,072, which provides
an
10% return.
Prepare Pina’s journal entries for (a) the purchase of the investment, (b) the receipt of annual interest and discount amortization, and (c) the year-end fair value adjustment. (Assume a zero balance in the Fair Value Adjustment account.) The bonds have a year-end fair value of $61,750.
(Round answers to 0 decimal places, e.g. 1,225..
Brief Exercise 15-4Ravonette Corporation issued 375 shares of $1.docxAASTHA76
Brief Exercise 15-4
Ravonette Corporation issued 375 shares of $15 par value common stock and 110 shares of $48 par value preferred stock for a lump sum of $20,025. The common stock has a market price of $30 per share, and the preferred stock has a market price of $100 per share.
Prepare the journal entry to record the issuance. (Round answers to 0 decimal places, e.g., 1520. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)
Account Titles and Explanation
Debit
Credit
Cash
20025
Preferred Stock
Paid-in Capital in Excess of Par - Preferred Stock
Common Stock
Paid-in Capital in Excess of Par - Common Stock
Exercise 15-12
Lotoya Davis Corporation has 10.12 million shares of common stock issued and outstanding. On June 1, the board of directors voted an 62 cents per share cash dividend to stockholders of record as of June 14, payable June 30.
(a) Prepare the journal entry for each of the dates above assuming the dividend represents a distribution of earnings. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)
Date
Account Titles and Explanation
Debit
Credit
6/1
6/14
6/30
(b) How would the entry differ if the dividend were a liquidating dividend? (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)
Account Titles and Explanation
Debit
Credit
Warning
Exercise 15-19
Shown below is the liabilities and stockholders’ equity section of the balance sheet for Jana Kingston Company and Mary Ann Benson Company. Each has assets totaling $4,418,100.
Jana Kingston Co.
Mary Ann Benson Co.
Current liabilities
$315,600
Current liabilities
$754,600
Long-term debt, 10%
1,281,000
Common stock ($20 par)
2,945,000
Common stock ($20 par)
2,103,000
Retained earnings (Cash dividends, $328,900)
718,500
Retained earnings (Cash dividends, $227,700)
718,500
$4,418,100
$4,418,100
For the year, each company has earned the same income before interest and taxes.
Jana Kingston Co.
Mary Ann Benson Co.
Income before interest and taxes
$1,203,000
$1,203,000
Interest expense
128,100
0
1,074,900
1,203,000
Income taxes (45%)
483,705
541,350
Net income
$591,195
$661,650
At year end, the market price of Kingston’s stock was $101 per share, and Benson’s was $63.50. Assume balance sheet amounts are representative for the entire year.
(a) Calculate the return on total assets? (Round answers to 2 decimal places, e.g. 16.85%.)
Return on total assets
Kingston Company
%
Benson Company
%
Which company is more profitable in terms of return on total assets? (b) Calculate the return on common sto ...
Exercise 8-15Shania Twain Company was formed on December 1, 2013.docxgitagrimston
Exercise 8-15
Shania Twain Company was formed on December 1, 2013. The following information is available from Twain’s inventory records for Product BAP.
Units
Unit Cost
January 1, 2014 (beginning inventory)
600
$ 8
Purchases:
January 5, 2014
1,200
9
January 25, 2014
1,300
10
February 16, 2014
800
11
March 26, 2014
600
12
A physical inventory on March 31, 2014, shows 1,600 units on hand.
Prepare schedules to compute the ending inventory at March 31, 2014, under FIFO inventory methods. (Round answer to 0 decimal places, e.g. 2,760.)
FIFO
Ending Inventory at March 31, 2014
$
Prepare schedules to compute the ending inventory at March 31, 2014, under LIFO inventory methods. (Round answer to 0 decimal places, e.g. 2,760.)
LIFO
Ending Inventory at March 31, 2014
$
Calculate average-cost per unit. (Round answer to 2 decimal places, e.g. 2.76.)
Weighted average-cost per unit
$
Prepare schedules to compute the ending inventory at March 31, 2014, under Weighted-average inventory methods. (Round answer to 0 decimal places, e.g. 2,760.)
Weighted-Average
Ending Inventory at March 31, 2014
$
Brief Exercise 9-2
Floyd Corporation has the following four items in its ending inventory.
Item
Cost
ReplacementCost
Net RealizableValue (NRV)
NRV less NormalProfit Margin
Jokers
$2,000
$2,050
$2,100
$1,600
Penguins
5,000
5,100
4,950
4,100
Riddlers
4,400
4,550
4,625
3,700
Scarecrows
3,200
2,990
3,830
3,070
Determine the final lower-of-cost-or-market inventory value for each item.
Jokers
$
Penguins
Riddlers
Scarecrows
Exercise 9-12
Mark Price Company uses the gross profit method to estimate inventory for monthly reporting purposes. Presented below is information for the month of May.
Inventory, May 1
$ 160,000
Purchases (gross)
640,000
Freight-in
30,000
Sales revenue
1,000,000
Sales returns
70,000
Purchase discounts
12,000
(a) Compute the estimated inventory at May 31, assuming that the gross profit is 30% of sales.
The estimated inventory at May 31
$
(b) Compute the estimated inventory at May 31, assuming that the gross profit is 30% of cost. (Round percentage of sales to 2 decimal places, e.g. 78.74% and final answer to 0 decimal places, e.g. 6,225.)
The estimated inventory at May 31
$
Brief Exercise 10-8
Navajo Corporation traded a used truck (cost $20,000, accumulated depreciation $18,000) for a small computer worth $3,300. Navajo also paid $500 in the transaction.
Prepare the journal entry to record the exchange. (The exchange has commercial substance.) (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)
Account Titles and Explanation
Debit
Credit
Brief Exercise 10-10
Mehta Company traded a used welding machine (cost $9,000, accumulated depreciation $3,000) for office equipment wi ...
Wilco Corporation has the following account balances at December 3.docxalanfhall8953
Wilco Corporation has the following account balances at December 31, 2012.
Common stock, $5 par value
$555,600
Treasury stock
90,720
Retained earnings
2,426,200
Paid-in capital in excess of par—common stock
1,321,900
Prepare Wilco’s December 31, 2012, stockholders’ equity section. (For preferred stock, common stock and treasury stock enter the account name only and do not provide the descriptive information provided in the question.)
WILCO CORPORATION
Stockholders’ Equity
December 31, 2012
$
:
$
Sprinkle Inc. has outstanding 10,050 shares of $10 par value common stock. On July 1, 2012, Sprinkle reacquired 107 shares at $89 per share. On September 1, Sprinkle reissued 61 shares at $90 per share. On November 1, Sprinkle reissued 46 shares at $85 per share.
Prepare Sprinkle’s journal entries to record these transactions using the cost method. (If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually.)
Date
Account Titles and Explanation
Debit
Credit
7/1/12
9/1/12
11/1/12
Graves Mining Company declared, on April 20, a dividend of $519,800, on its $5 par common stock, payable on June 1. Of this amount, $133,700 is a return of capital.
Prepare the April 20 and June 1 entries for Graves. (If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually.)
Date
Account Titles and Explanation
Debit
Credit
Apr. 20
June 1
Apr. 20 Retained Earnings = ($519,800 – $133,700) = $386,100
Abernathy Corporation was organized on January 1, 2012. It is authorized to issue 10,290 shares of 8%, $65 par value preferred stock, and 544,000 shares of no-par common stock with a stated value of $2 per share. The following stock transactions were completed during the first year.
Jan. 10
Issued 80,330 shares of common stock for cash at $6 per share.
Mar. 1
Issued 5,670 shares of preferred stock for cash at $113 per share.
Apr. 1
Issued 24,730 shares of common stock for land. The asking price of the land was $90,540; the fair value of the land was $80,330.
May 1
Issued 80,330 shares of common stock for cash at $9 per share.
Aug. 1
Issued 10,290 shares of common stock to attorneys in payment of their bill of $50,620 for services rendered in helping the company organize.
Sept. 1
Issued 10,290 shares of common stock for cash at $11 per share.
Nov. 1
Issued 1,940 shares of preferred stock for cash at $115 per share.
Prepare the journal entries to record the above transactions. (If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually.)
Date
Account Titles and Explanation
Debit
Credit
Jan. 10
M.
Problem 1Problem 1 - Constant-Growth Common StockWhat is the value.docxChantellPantoja184
Problem 1Problem 1 - Constant-Growth Common StockWhat is the value of a common stock if the firm's earnings and dividends are growing annually at 10%, the current dividend is $1.32,and investors require a 15% return on investment?What is the stock's rate of return if the market price of the stock is $35?
Problem 2Problem 2 - Preferred Stock Price and ReturnA firm has preferred stock outstanding with a $1,000 par value and a $40 annual dividend with no maturity. If the required rate of return is 9%, what is the price of the preferred stock?The market price of a firm's preferred stock is $24 and pays an annual dividend of $2.50. If the stock's par value is $1,000 and it has no maturity, what is the return on the preferred stock?
Problem 3Problem 3 - Bond Valuation and YieldA bond has a par value of $1,000, pays $50 semiannually and has a maturity of 10 years.If the bond earns 12% per year, what is the price of the bond?RateNperPMTFVTypePVWhat is the yield to maturity for the bond?NperPMTPVFVTypeRateWhat would be the bond's price if the rate earned declined to 8% per year?RateNperPMTFVTypePVIf the maturity period is reduced to 5 years and the required rate of return is 8%, what would be the price of the bond?RateNperPMTFVTypePVWhat is the yield to maturity for the bond when the maturity is 5 years and the required rate of return is 8%?NperPMTPVFVTypeRateWhat generalizations about bond prices, interest rates and maturity periods can be made based on the calculations made above?
Problem 4Problem 4 - Callable BondsThe following bonds have a par value of $1,000 and the required rate of return is 10%.Bond XY: 5¼ percent coupon, with interest paid annually for 20 yearsBond AB: 14 percent coupon, with interest paid annually for 20 yearsWhat is each bond's current market price?Bond XYBond ABRateNperPMTFVTypePVIf current interest rates are 9%, which bond would you expect to be called? Explain.
Exercise 10-5
During the month of March, Olinger Company’s employees earned wages of $69,500. Withholdings related to these wages were $5,317 for Social Security (FICA), $8,145 for federal income tax, $3,366 for state income tax, and $434 for union dues. The company incurred no cost related to these earnings for federal unemployment tax but incurred $760 for state unemployment tax.
Prepare the necessary March 31 journal entry to record salaries and wages expense and salaries and wages payable. Assume that wages earned during March will be paid during April. (Credit account titles are automatically indented when amount is entered. Do not indent manually.)
Date
Account Titles and Explanation
Debit
Credit
Mar. 31
SHOW LIST OF ACCOUNTS
LINK TO TEXT
Prepare the entry to record the company’s payroll tax expense. (Credit account titles are automatically indented when amount is entered. Do not indent manually.)
Date
Account Titles and Explanation
Debit
Credit
Mar. 31
===========================================
E.
Fred and George have been in partnership for many years. The partn.docxbudbarber38650
Fred and George have been in partnership for many years. The partners, who share profits and losses on a 60:40 basis, respectively, wish to retire and have agreed to liquidate the business. Liquidation expenses are estimated to be $10,000. At the date the partnership ceases operations, the balance sheet is as follows:
Cash
$
100,000
Liabilities
$
80,000
Noncash assets
200,000
Fred, capital
100,000
George, capital
120,000
Total assets
$
300,000
Total liabilities and capital
$
300,000
1.
Prepare journal entries for the following transactions: (Do not round intermediate calculations. If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)
a.
Distributed safe cash payments to the partners.
b.
Paid $40,000 of the partnership’s liabilities.
c.
Sold noncash assets for $220,000.
d.
Distributed safe cash payments to the partners.
e.
Paid all remaining partnership liabilities of $40,000.
f.
Paid $8,000 in liquidation expenses; no further expenses will be incurred.
g.
Distributed remaining cash held by the business to the partners.
Ex. 2
A local partnership is to be liquidated. Commissions and other liquidation expenses are expected to total $19,000. The business’s balance sheet prior to the commencement of liquidation is as follows:
Cash
$ 27,000
Liabilities
$ 40,000
Noncash assets
254,000
Simpson, capital (20%)
18,000
Hart, capital (40%)
40,000
Bobb, capital (20%)
48,000
Reidl, capital (20%)
135,000
Total assets
$281,000
Total liabilities and capital
$281,000
Prepare a predistribution plan for this partnership.
Partner
Capital Balance
Loss Allocation
Maximum loss that can be absorb
Schedule 1
Sampson
Hart
Bobb
Reidl
Schedule 2
Hart
Bobb
Reidl
Schedule 3
Bobb
Reidl
Sampson
Hart
Bobb
Reidl
Reported balances
Assumed loss
Schedule 1
Adjusted Balances
Assumed loss
Schedule 2
Adjusted balances
Assumed loss
Schedule 3
Adjusted balances
EX. 3
The Prince-Robbins partnership has the following capital account balances on January 1, 2015:
Prince, Capital
$
70,000
Robbins, Capital
60,000
Prince is allocated 80 percent of all profits and losses with the remaining 20 percent assigned to Robbins after interest of 10 percent is given to each partner based on beginning capital balances.
On January 2, 2015, Jeffrey invests $37,000 cash for a 20 percent interest in the partnership. This transaction is recorded by the goodwill method. After this transaction, 10 percent interest is still to go to each partner. Profits and losses will then be split as follows: Prince (50%), Robbins (30%), and Jeffrey (20%). In 2015, the partnership reports a net income of $15,000.
a.
Prepare the journal entry to record Jeffrey entrance into the partnership on January 2, 2015. (If no entry .
On January 1, 2014, Gottlieb Corporation issued $4,360,000 of 10-y.docxhopeaustin33688
On January 1, 2014, Gottlieb Corporation issued $4,360,000 of 10-year, 8% convertible debentures at 104. Interest is to be paid semiannually on June 30 and December 31. Each $1,000 debenture can be converted into 9 shares of Gottlieb Corporation $104 par value common stock after December 31, 2015.
On January 1, 2016, $436,000 of debentures are converted into common stock, which is then selling at $116. An additional $436,000 of debentures are converted on March 31, 2016. The market price of the common stock is then $119. Accrued interest at March 31 will be paid on the next interest date.
Bond premium is amortized on a straight-line basis.
Make the necessary journal entries for:
(a)
December 31, 2015.
(c)
March 31, 2016.
(b)
January 1, 2016.
(d)
June 30, 2016.
Record the conversions using the book value method. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Round answers to 0 decimal places, e.g. 5,275.)
No.
Date
Account Titles and Explanation
Debit
Credit
(a)
Dec. 31, 2015
(b)
Jan. 1, 2016
(c)
Mar. 31, 2016
(To record interest expense)
Mar. 31, 2016
(To record the conversion)
(d)
Jun. 30, 2016
Exercise 16-7
Illiad Inc. has decided to raise additional capital by issuing $176,800 face value of bonds with a coupon rate of 11%. In discussions with investment bankers, it was determined that to help the sale of the bonds, detachable stock warrants should be issued at the rate of one warrant for each $100 bond sold. The value of the bonds without the warrants is considered to be $148,320, and the value of the warrants in the market is $16,480. The bonds sold in the market at issuance for $162,000.
(a) What entry should be made at the time of the issuance of the bonds and warrants? (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)
Account Titles and Explanation
Debit
Credit
(b) Prepare the entry if the warrants were nondetachable. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)
Account Titles and Explanation
Debit
Credit
Exercise 16-10
On November 1, 2014, Olympic Company adopted a stock-option plan that granted options to key executives to purchase 66,500 shares of the company’s $13 par value common stock. The options were granted on January 2, 2015, and were exercisable 2 years after the date of grant if the grantee was still an employee of the company. The options expired 6 years from date of grant. The option price was set at $50, and the fair value option-pricing model determines the total comp.
WEEK 2HW Due in LEO no later than 1100 PM on 30-AUG-2015 U.S.docxmelbruce90096
WEEK 2
H/W
Due in LEO no later than 11:00 PM on 30-AUG-2015 U.S. Eastern Time (Washington, DC)
Brief Exercise 15-1
Moby Inc. is considering two alternatives to finance its construction of a new $1.60 million plant.
(a)
Issuance of 160,000 shares of common stock at the market price of $10 per share.
(b)
Issuance of $1,600,000, 8% bonds at face value.
Complete the following table. (Round earnings per share to 2 decimal places, e.g. 0.25.)
Issue Stock
Issue Bond
Income before interest and taxes
$701,100
$701,100
Interest expense from bonds
Income before income taxes
Income tax expense (25%)
Net income
$
$
Outstanding shares
541,100
Earnings per share
$
$
Indicate which alternative is preferable.
Net income is if stock is used. However, earnings per share is than earnings per share if bonds are used because of the additional shares of stock that are outstanding.
Brief Exercise 15-2
Meera Corporation issued 3,770, 7%, 5-year, $1,000 bonds dated January 1, 2014, at 100.
Prepare the journal entry to record the sale of these bonds on January 1, 2014. (Credit account titles are automatically indented when amount is entered. Do not indent manually.)
Date
Account Titles and Explanation
Debit
Credit
Jan. 1
Top of Form
Bottom of Form
Prepare the journal entry to record the first interest payment on July 1, 2014 (interest payable semiannually), assuming no previous accrual of interest. (Credit account titles are automatically indented when amount is entered. Do not indent manually.)
Date
Account Titles and Explanation
Debit
Credit
July 1
Bottom of Form
Prepare the adjusting journal entry on December 31, 2014, to record interest expense. (Credit account titles are automatically indented when amount is entered. Do not indent manually.)
Date
Account Titles and Explanation
Debit
Credit
Dec. 31
Bottom of Form
Brief Exercise 15-4
Frankum Company has issued three different bonds during 2014. Interest is payable semiannually on each of these bonds.
1.
On January 1, 2014, 1,110, 7%, 5-year, $1,200 bonds dated January 1, 2014, were issued at face value.
2.
On July 1, $726,200, 8%, 5-year bonds dated July 1, 2014, were issued at 104.
3.
On September 1, $315,400, 6%, 5-year bonds dated September 1, 2014, were issued at 98.
Prepare the journal entries to record each bond transaction at the date of issuance. (Credit account titles are automatically indented when amount is entered. Do not indent manually.)
Date
Account Titles and Explanation
Debit
Credit
Jan. 1
July 1
Sept. 1
Brief Exercise 16-1
Ownbey Corporation purchased debt investments for $47,020 on January 1, 2014. On July 1, 2014, Ownbey received cash interest of $3,800.
Journalize the purchase and the receipt of interest. Assume that no interest has been accrued. (Credit account titles are automatically indented when amount is entered..
ill in the dollar changes caused in the Investment account and Div.docxgordienaysmythe
ill
in the dollar changes caused in the Investment account and Dividend Revenue or Investment Revenue account by each of the following transactions, assuming Crane Company uses (a) the fair value method and (b) the equity method for accounting for its investments in Hudson Company.
(Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45). Do not leave any answer field blank. Enter 0 for amounts.)
(a) Fair Value Method
(b) Equity Method
Transaction
Investment Account
Dividend Revenue
Investment Account
Investment Revenue
1.
At the beginning of Year 1, Crane bought 25% of Hudson's common stock at its book value. Total book value of all Hudson's common stock was $850,000 on this date.
2.
During Year 1, Hudson reported $54,000 of net income and paid $27,000 of dividends.
3.
During Year 2, Hudson reported $31,500 of net income and paid $20,000 of dividends.
4.
During Year 3, Hudson reported a net loss of $12,000 and paid $3,800 of dividends.
5.
Indicate the Year 3 ending balance in the Investment account, and cumulative totals for Years 1, 2, and 3 for dividend revenue and investment revenue.
Exercise 122 (Part Level Submission)
The following information is available for Irwin Company for 2018:
Net Income
$119,000
Realized gain on sale of available-for-sale debt securities
10,000
Unrealized holding gain arising during the period on available-for-sale debt securities
30,000
Reclassification adjustment for gains included in net income
7,500
(a)
Determine other comprehensive income for 2018.
Other comprehensive income
$
Exercise 123
On January 2, 2018, Tylor Company issued a 4-year, $600,000 note at 8% fixed interest, interest payable semiannually. Tylor now wants to change the note to a variable rate note. As a result, on January 2, 2018, Tylor Company enters into an interest rate swap where it agrees to receive 8% fixed and pay LIBOR of 5.5% for the first 6 months on $600,000. At each 6-month period, the variable interest rate will be reset. The variable rate is reset to 6.6% on June 30, 2018.
Compute the net interest expense to be reported for this note and related swap transaction as of June 30, 2018.
Net interest expense
$
LINK TO TEXT
Compute the net interest expense to be reported for this note and related swap transaction as of December 31, 2018.
Net interest expense
$
Brief Exercise 17-2
Pina Company purchased, on January 1, 2017, as an available-for-sale security, $65,000 of the 8%, 5-year bonds of Chester Corporation for $60,072, which provides
an
10% return.
Prepare Pina’s journal entries for (a) the purchase of the investment, (b) the receipt of annual interest and discount amortization, and (c) the year-end fair value adjustment. (Assume a zero balance in the Fair Value Adjustment account.) The bonds have a year-end fair value of $61,750.
(Round answers to 0 decimal places, e.g. 1,225..
Brief Exercise 15-4Ravonette Corporation issued 375 shares of $1.docxAASTHA76
Brief Exercise 15-4
Ravonette Corporation issued 375 shares of $15 par value common stock and 110 shares of $48 par value preferred stock for a lump sum of $20,025. The common stock has a market price of $30 per share, and the preferred stock has a market price of $100 per share.
Prepare the journal entry to record the issuance. (Round answers to 0 decimal places, e.g., 1520. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)
Account Titles and Explanation
Debit
Credit
Cash
20025
Preferred Stock
Paid-in Capital in Excess of Par - Preferred Stock
Common Stock
Paid-in Capital in Excess of Par - Common Stock
Exercise 15-12
Lotoya Davis Corporation has 10.12 million shares of common stock issued and outstanding. On June 1, the board of directors voted an 62 cents per share cash dividend to stockholders of record as of June 14, payable June 30.
(a) Prepare the journal entry for each of the dates above assuming the dividend represents a distribution of earnings. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)
Date
Account Titles and Explanation
Debit
Credit
6/1
6/14
6/30
(b) How would the entry differ if the dividend were a liquidating dividend? (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)
Account Titles and Explanation
Debit
Credit
Warning
Exercise 15-19
Shown below is the liabilities and stockholders’ equity section of the balance sheet for Jana Kingston Company and Mary Ann Benson Company. Each has assets totaling $4,418,100.
Jana Kingston Co.
Mary Ann Benson Co.
Current liabilities
$315,600
Current liabilities
$754,600
Long-term debt, 10%
1,281,000
Common stock ($20 par)
2,945,000
Common stock ($20 par)
2,103,000
Retained earnings (Cash dividends, $328,900)
718,500
Retained earnings (Cash dividends, $227,700)
718,500
$4,418,100
$4,418,100
For the year, each company has earned the same income before interest and taxes.
Jana Kingston Co.
Mary Ann Benson Co.
Income before interest and taxes
$1,203,000
$1,203,000
Interest expense
128,100
0
1,074,900
1,203,000
Income taxes (45%)
483,705
541,350
Net income
$591,195
$661,650
At year end, the market price of Kingston’s stock was $101 per share, and Benson’s was $63.50. Assume balance sheet amounts are representative for the entire year.
(a) Calculate the return on total assets? (Round answers to 2 decimal places, e.g. 16.85%.)
Return on total assets
Kingston Company
%
Benson Company
%
Which company is more profitable in terms of return on total assets? (b) Calculate the return on common sto ...
Omit all general journal entry explanations.Be sure to include c.docxIlonaThornburg83
Omit all general journal entry
explanations.
Be sure to include correct dollar signs, underlines and double underlines.
Question 1 (15 points) Statement of Cash Flows
The following is selected information from Murphy Company for the fiscal years ended December 31, 2015: Murphy Company had net income of $500,000. Depreciation was $50,000, purchases of plant assets were $ 250,000, and disposals of plant assets for $500,000 resulted in a $20,000 gain. Stock was issued in exchange for an outstanding note payable of $925,000. Accounts receivable decreased by $25,000. Accounts payable decreased by $10,000. Dividends of $200,000 were paid to shareholders. Murphy Company had interest expense of $5,000. Cash balance on January 1, 2015 was $250,000.
Requirements:Prepare Murphy Company's statement of cash flows for the year ended December 31, 2015 using the indirect method.
Hint (recall the 3 sections)
Question 2 (10 points)
On January 1, 2015, Baker Company purchased 10,000 shares of the stock of Murphy,
and did obtain significant influence
. The investment is intended as a long-term investment. The stock was purchased for $70,000, and represents a 25% ownership stake. Murphy made $20,000 of net income in 2015, and paid dividends of $10,000. The price of Murphy's stock increased from $20 per share at the beginning of the year, to $22 per share at the end of the year.
Requirements:
a.
Prepare the January 1 and December 31 general journal entries for Baker Company.
b.
How much should the Baker Company report on the balance sheet for the investment in Murphy at the end of 2015?
Question 3 (20 Points)
On December 31, 2016, Murphy Inc. had the following balances (all balances are normal):
Accounts
Amount
Preferred Stock, ($100 par value, 5% noncumulative, 50,000 shares authorized, 10,000 shares issued and outstanding)
$1,000,000
Common Stock ($10 par value, 200,000 shares authorized, 100,000 shares issued and outstanding)
$1,000,000
Paid-in Capital in Excess of par, Common
150,000
Retained Earnings
700,000
The following events occurred during 2016 and were not recorded:
a.
On January 1, Murphy declared a 5% stock dividend on its common stock when the market value of the common stock was $15 per share. Stock dividends were distributed on January 31 to shareholders as of January 25.
b.
On February 15, Murphy re-acquired 1,000 shares of common stock for $20 each.
c.
On March 31, Murphy reissued 250 shares of treasury stock for $25 each.
d.
On July 1, Murphy reissued 500 shares of treasury stock for $16 each.
e.
On October 1, Murphy declared full year dividends for preferred stock and $1.50 cash dividends for outstanding shares and paid shareholders on October 15.
f.
On December 15, Murphy split common stock 2 shares for 1.
g.
Net Income for 2016 was $275,000.
Requirements:
a.
Prepare journal entries for the transactions listed above.
b.
Prepare a Stockholders' section of a classified balance sheet as of December 31, 2016.
Question 4 (14 poi.
Omit all general journal entry explanations.Be sure to include cor.docxcherishwinsland
Omit all general journal entry explanations.Be sure to include correct dollar signs, underlines and double underlines.
Question 1 (15 points) Statement of Cash Flows
The following is selected information from Murphy Company for the fiscal years ended December 31, 2015: Murphy Company had net income of $500,000. Depreciation was $50,000, purchases of plant assets were $ 250,000, and disposals of plant assets for $500,000 resulted in a $20,000 gain. Stock was issued in exchange for an outstanding note payable of $925,000. Accounts receivable decreased by $25,000. Accounts payable decreased by $10,000. Dividends of $200,000 were paid to shareholders. Murphy Company had interest expense of $5,000. Cash balance on January 1, 2015 was $250,000.
Requirements:Prepare Murphy Company's statement of cash flows for the year ended December 31, 2015 using the indirect method.
Hint (recall the 3 sections)
Question 2 (10 points)
On January 1, 2015, Baker Company purchased 10,000 shares of the stock of Murphy, and did obtain significant influence. The investment is intended as a long-term investment. The stock was purchased for $70,000, and represents a 25% ownership stake. Murphy made $20,000 of net income in 2015, and paid dividends of $10,000. The price of Murphy's stock increased from $20 per share at the beginning of the year, to $22 per share at the end of the year.
Requirements:
a. Prepare the January 1 and December 31 general journal entries for Baker Company.
b. How much should the Baker Company report on the balance sheet for the investment in Murphy at the end of 2015?
Question 3 (20 Points)
On December 31, 2016, Murphy Inc. had the following balances (all balances are normal):
Accounts
Amount
Preferred Stock, ($100 par value, 5% noncumulative, 50,000 shares authorized, 10,000 shares issued and outstanding)
$1,000,000
Common Stock ($10 par value, 200,000 shares authorized, 100,000 shares issued and outstanding)
$1,000,000
Paid-in Capital in Excess of par, Common
150,000
Retained Earnings
700,000
The following events occurred during 2016 and were not recorded:
a. On January 1, Murphy declared a 5% stock dividend on its common stock when the market value of the common stock was $15 per share. Stock dividends were distributed on January 31 to shareholders as of January 25.
b. On February 15, Murphy re-acquired 1,000 shares of common stock for $20 each.
c. On March 31, Murphy reissued 250 shares of treasury stock for $25 each.
d. On July 1, Murphy reissued 500 shares of treasury stock for $16 each.
e. On October 1, Murphy declared full year dividends for preferred stock and $1.50 cash dividends for outstanding shares and paid shareholders on October 15.
f. On December 15, Murphy split common stock 2 shares for 1.
g. Net Income for 2016 was $275,000.
Requirements:
a. Prepare journal entries for the transactions listed above.
b. Prepare a Stockholders' section of a classified balance sheet as of December 31, 2016.
c.
Question 4 (14 points)
4A. Janu.
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Scroll Down to See Details of the Questions Transactions for Mehta Company for the month of May are presented below. Prepare journal entries for each of these transactions. On July 1, 2014, Crowe Co. pays $15,000 to Zubin Insurance Co. for a 3-year insurance policy. Both companies have fiscal years ending December 31. For Crowe Co., journalize the entry on July 1 and the adjusting entry on December 31. Dresser Company’s weekly payroll, paid on Fridays, totals $8,000. Employees work a 5-day week. Prepare
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Transactions for Mehta Company for the month of May are presented below. Prepare journal entries for each of these transactions.
Accounting 970642 paper 4 problem solving (supplementary topics) october nove...alproelearning
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Transactions for Mehta Company for the month of May are presented below. Prepare journal entries for each of these transactions.
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Transactions for Mehta Company for the month of May are presented below. Prepare journal entries for each of these transactions.
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Acct 221Final Exam
Student Name:
Question 1: 30 points
a. General Journal Entries
Date
Account
Debit
Credit
b. Partial Classified Balance Sheet
Question 2: 5 points
a. General Journal Entries
Date
Account
Debit
Credit
b. Stock Investments Accounts Balance 12/31/14:
Question 3: 10 points
Question 4: 15 points
Date
Account
Debit
Credit
Question 5: 10 points
a.1.
Breakeven Sales Dollars
a.2.
Breakeven Units
b.1.
Breakeven Sales Dollars
b.2.
Breakeven Units
Question 6: 5 points
Question 7: 6 points
Produce
Buy
Question 1 (30 points)
QUESTION 1A
On December 31, 2015, Raleigh Corp. had the following balances (all balances are normal):
Accounts
Amount
Preferred Stock, ($100 par value, 5% noncumulative, 50,000 shares authorized, 10,000 shares issued and outstanding)
$1,000,000
Common Stock ($10 par value, 200,000 shares authorized, 100,000 shares issued and outstanding)
$1,000,000
The following events occurred during 2015 and were not recorded:
a On January 1, Raleigh Corp. declared a 5% stock dividend on its common stock when the market value of the common stock was $15 per share.
Stock dividends were distributed on January 31 to shareholders as of January 25.
c. On February 15, Raleigh reacquired 1,000 shares of common stock for $20 each.
d. On March 31, Raleigh reissued 250 shares of treasury stock for $25 each.
e. On July 1, Raleigh reissued 500 shares of treasury stock for $16 each.
f. On October 1, Raleigh declared full year dividends for preferred stock (see outstanding shares in table above).
g. Then, paid preferred shareholders on October 15
h. On October 1, Raleigh also declared $1.50 cash dividends for the 104,750 remaining common outstanding shares.
i. Then, paid common shareholders on October 15.
j. On December 15, Raleigh split common stock 2 shares for 1.
QUESTION 1B
Given below is information for the Stockholder Equity section of Jones Balance Sheet as of December, 2014
b 8% Preferred stock, $100 par value, 10,000 shares authorized, 5,000 shares issued and outstanding.
c Common stock, no par, $2 stated value, 500,000 shares authorized, 204,000 shares issued and outstanding
d Additional paid-in capital:
Preferred stock in excess of par value is $34,000
Common stock in excess of stated value is $437,000
Requirements: Prepare a Stockholders' section of Jones classified balance sheet as of December 31, 2014.
Question 2 (5 points)
On January 1, 2016, XYZ Company purchased.
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As a way of experiencing the Humanities beyond your classroom, c.docxwraythallchan
As a way of experiencing the Humanities beyond your classroom, computer, and textbook, you are asked to attend a “cultural event” and report on your experience. This assignment requires the following:
Submit your cultural event choice to the instructor for approval before the end of Week 5.
Visit a museum or gallery exhibition of modern art before the end of Week 9.
Write a report of the visit.
Summarize the report in a PowerPoint presentation.
**Please be sure to use a gallery or museum from Columbia SC**
Write a three to four (3-4) page paper (750-1,000 words) in which you:
Identify the date visited, location, name, and background of the museum or specific exhibition. (If virtual, identify the Website along with the other information.)
Describe three (3) works, noting the artist, title, subject, and the time period of each work.
Compare the style, influences, and meaning or intent of each piece, highlighting any changes (if any) from the first to last piece.
Explain your reasons for selecting the pieces in a discussion of the reasons for the artist’s popularity and / or impact on the art world.
Summarize the main points of three (3) works discussed in your paper in a PowerPoint presentation of at least three (3) slides. Each of the slides should have three to four (3-4) short bullet points and notes about the works in the slide notes section. Include a cover page for the PowerPoint. Add the slides with notes to your paper.
Include four (4) references that help support your claims. (The text may be used as one (1) reference.)
Visiting a Museum
It makes sense to approach a museum the way a seasoned traveler approaches visiting a city for the first time. Find out what is available to see. In the museum, find out what sort of exhibitions are currently housed in the museum and start with the exhibits that interest you. If there is a travelling exhibition, it’s always a good idea to see it while you have the chance. Then, if you have time, you can look at other things in the museum.
Make notes as you go through the museum and accept any handouts or pamphlets that the museum provides free. While you should not quote anything from the printed material when you do your report, the handouts may help to refresh your memory later.
The quality of your experience is not measured by the amount of time you spend in the galleries or the number of works of art that you actually see. The most rewarding experiences can come from finding three (3) pieces of art or exhibits that intrigue you and then considering those works in leisurely contemplation. Most museums even have benches where you can sit and study a particular piece.
If you are having a difficult time deciding which pieces to write about, ask yourself these questions: (1) If the museum you are visiting suddenly caught fire, which three (3) pieces of art or exhibits would you most want to see saved from the fire? (2) Why would you choose those two (2) particular pieces?
.
As a social worker, you will meet children and adolescents who a.docxwraythallchan
As a social worker, you will meet children and adolescents who are in complicated family situations and may require a variety of resources for support. There are many times when these situations involve drug abuse, domestic violence, child abuse, and/or neglect. If these factors are present within a child’s or adolescent’s environment, it will impact their development. As mandated reporters, social workers are legally required to report any suspicion they have of child abuse or neglect to local authorities in an effort to ensure a healthier environment within which they can grow.
For this Discussion, review the case study “Working With Clients With Addictions: The Case of Barbara and Jonah.” Consider this week’s reading in the Learning Resources.
.
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Omit all general journal entry explanations.Be sure to include c.docxIlonaThornburg83
Omit all general journal entry
explanations.
Be sure to include correct dollar signs, underlines and double underlines.
Question 1 (15 points) Statement of Cash Flows
The following is selected information from Murphy Company for the fiscal years ended December 31, 2015: Murphy Company had net income of $500,000. Depreciation was $50,000, purchases of plant assets were $ 250,000, and disposals of plant assets for $500,000 resulted in a $20,000 gain. Stock was issued in exchange for an outstanding note payable of $925,000. Accounts receivable decreased by $25,000. Accounts payable decreased by $10,000. Dividends of $200,000 were paid to shareholders. Murphy Company had interest expense of $5,000. Cash balance on January 1, 2015 was $250,000.
Requirements:Prepare Murphy Company's statement of cash flows for the year ended December 31, 2015 using the indirect method.
Hint (recall the 3 sections)
Question 2 (10 points)
On January 1, 2015, Baker Company purchased 10,000 shares of the stock of Murphy,
and did obtain significant influence
. The investment is intended as a long-term investment. The stock was purchased for $70,000, and represents a 25% ownership stake. Murphy made $20,000 of net income in 2015, and paid dividends of $10,000. The price of Murphy's stock increased from $20 per share at the beginning of the year, to $22 per share at the end of the year.
Requirements:
a.
Prepare the January 1 and December 31 general journal entries for Baker Company.
b.
How much should the Baker Company report on the balance sheet for the investment in Murphy at the end of 2015?
Question 3 (20 Points)
On December 31, 2016, Murphy Inc. had the following balances (all balances are normal):
Accounts
Amount
Preferred Stock, ($100 par value, 5% noncumulative, 50,000 shares authorized, 10,000 shares issued and outstanding)
$1,000,000
Common Stock ($10 par value, 200,000 shares authorized, 100,000 shares issued and outstanding)
$1,000,000
Paid-in Capital in Excess of par, Common
150,000
Retained Earnings
700,000
The following events occurred during 2016 and were not recorded:
a.
On January 1, Murphy declared a 5% stock dividend on its common stock when the market value of the common stock was $15 per share. Stock dividends were distributed on January 31 to shareholders as of January 25.
b.
On February 15, Murphy re-acquired 1,000 shares of common stock for $20 each.
c.
On March 31, Murphy reissued 250 shares of treasury stock for $25 each.
d.
On July 1, Murphy reissued 500 shares of treasury stock for $16 each.
e.
On October 1, Murphy declared full year dividends for preferred stock and $1.50 cash dividends for outstanding shares and paid shareholders on October 15.
f.
On December 15, Murphy split common stock 2 shares for 1.
g.
Net Income for 2016 was $275,000.
Requirements:
a.
Prepare journal entries for the transactions listed above.
b.
Prepare a Stockholders' section of a classified balance sheet as of December 31, 2016.
Question 4 (14 poi.
Omit all general journal entry explanations.Be sure to include cor.docxcherishwinsland
Omit all general journal entry explanations.Be sure to include correct dollar signs, underlines and double underlines.
Question 1 (15 points) Statement of Cash Flows
The following is selected information from Murphy Company for the fiscal years ended December 31, 2015: Murphy Company had net income of $500,000. Depreciation was $50,000, purchases of plant assets were $ 250,000, and disposals of plant assets for $500,000 resulted in a $20,000 gain. Stock was issued in exchange for an outstanding note payable of $925,000. Accounts receivable decreased by $25,000. Accounts payable decreased by $10,000. Dividends of $200,000 were paid to shareholders. Murphy Company had interest expense of $5,000. Cash balance on January 1, 2015 was $250,000.
Requirements:Prepare Murphy Company's statement of cash flows for the year ended December 31, 2015 using the indirect method.
Hint (recall the 3 sections)
Question 2 (10 points)
On January 1, 2015, Baker Company purchased 10,000 shares of the stock of Murphy, and did obtain significant influence. The investment is intended as a long-term investment. The stock was purchased for $70,000, and represents a 25% ownership stake. Murphy made $20,000 of net income in 2015, and paid dividends of $10,000. The price of Murphy's stock increased from $20 per share at the beginning of the year, to $22 per share at the end of the year.
Requirements:
a. Prepare the January 1 and December 31 general journal entries for Baker Company.
b. How much should the Baker Company report on the balance sheet for the investment in Murphy at the end of 2015?
Question 3 (20 Points)
On December 31, 2016, Murphy Inc. had the following balances (all balances are normal):
Accounts
Amount
Preferred Stock, ($100 par value, 5% noncumulative, 50,000 shares authorized, 10,000 shares issued and outstanding)
$1,000,000
Common Stock ($10 par value, 200,000 shares authorized, 100,000 shares issued and outstanding)
$1,000,000
Paid-in Capital in Excess of par, Common
150,000
Retained Earnings
700,000
The following events occurred during 2016 and were not recorded:
a. On January 1, Murphy declared a 5% stock dividend on its common stock when the market value of the common stock was $15 per share. Stock dividends were distributed on January 31 to shareholders as of January 25.
b. On February 15, Murphy re-acquired 1,000 shares of common stock for $20 each.
c. On March 31, Murphy reissued 250 shares of treasury stock for $25 each.
d. On July 1, Murphy reissued 500 shares of treasury stock for $16 each.
e. On October 1, Murphy declared full year dividends for preferred stock and $1.50 cash dividends for outstanding shares and paid shareholders on October 15.
f. On December 15, Murphy split common stock 2 shares for 1.
g. Net Income for 2016 was $275,000.
Requirements:
a. Prepare journal entries for the transactions listed above.
b. Prepare a Stockholders' section of a classified balance sheet as of December 31, 2016.
c.
Question 4 (14 points)
4A. Janu.
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Accounting 970642 paper 4 problem solving (supplementary topics) october nove...alproelearning
Accounting 970642 paper 4 problem solving (supplementary topics) october november 2014
Advanced Level
A Level
Zimsec
Cambridge
Alpro Learning Portal
Accounting
Accounts
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Transactions for Mehta Company for the month of May are presented below. Prepare journal entries for each of these transactions.
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Scroll Down to See Details of the Questions Transactions for Mehta Company for the month of May are presented below. Prepare journal entries for each of these transactions. On July 1, 2014, Crowe Co. pays $15,000 to Zubin Insurance Co. for a 3-year insurance policy. Both companies have fiscal years ending December 31. For Crowe Co., journalize the entry on July 1 and the adjusting entry on December 31. Dresser Company’s weekly payroll, paid on Fridays, totals $8,000. Employees work a 5-day week. Prepare Dresser’s adjusting entry on Wednesday, December 31, and the journal entry to record the $8,000 cash payment on Friday, January 2 Side Kicks has year-end account balances of Sales Revenue $808,900; Interest Revenue $13,500; Cost of Goods Sold $556,200; Administrative Expenses $189,000; Income Tax Expense $35,100; and Dividends $18,900. Prepare the year-end closing entrie To convert cash receipts from customers to revenue
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Scroll Down to See Details of the Questions Transactions for Mehta Company for the month of May are presented below. Prepare journal entries for each of these transactions. On July 1, 2014, Crowe Co. pays $15,000 to Zubin Insurance Co. for a 3-year insurance policy. Both companies have fiscal years ending December 31. For Crowe Co., journalize the entry on July 1 and the adjusting entry on December 31.
Acct 221Final Exam
Student Name:
Question 1: 30 points
a. General Journal Entries
Date
Account
Debit
Credit
b. Partial Classified Balance Sheet
Question 2: 5 points
a. General Journal Entries
Date
Account
Debit
Credit
b. Stock Investments Accounts Balance 12/31/14:
Question 3: 10 points
Question 4: 15 points
Date
Account
Debit
Credit
Question 5: 10 points
a.1.
Breakeven Sales Dollars
a.2.
Breakeven Units
b.1.
Breakeven Sales Dollars
b.2.
Breakeven Units
Question 6: 5 points
Question 7: 6 points
Produce
Buy
Question 1 (30 points)
QUESTION 1A
On December 31, 2015, Raleigh Corp. had the following balances (all balances are normal):
Accounts
Amount
Preferred Stock, ($100 par value, 5% noncumulative, 50,000 shares authorized, 10,000 shares issued and outstanding)
$1,000,000
Common Stock ($10 par value, 200,000 shares authorized, 100,000 shares issued and outstanding)
$1,000,000
The following events occurred during 2015 and were not recorded:
a On January 1, Raleigh Corp. declared a 5% stock dividend on its common stock when the market value of the common stock was $15 per share.
Stock dividends were distributed on January 31 to shareholders as of January 25.
c. On February 15, Raleigh reacquired 1,000 shares of common stock for $20 each.
d. On March 31, Raleigh reissued 250 shares of treasury stock for $25 each.
e. On July 1, Raleigh reissued 500 shares of treasury stock for $16 each.
f. On October 1, Raleigh declared full year dividends for preferred stock (see outstanding shares in table above).
g. Then, paid preferred shareholders on October 15
h. On October 1, Raleigh also declared $1.50 cash dividends for the 104,750 remaining common outstanding shares.
i. Then, paid common shareholders on October 15.
j. On December 15, Raleigh split common stock 2 shares for 1.
QUESTION 1B
Given below is information for the Stockholder Equity section of Jones Balance Sheet as of December, 2014
b 8% Preferred stock, $100 par value, 10,000 shares authorized, 5,000 shares issued and outstanding.
c Common stock, no par, $2 stated value, 500,000 shares authorized, 204,000 shares issued and outstanding
d Additional paid-in capital:
Preferred stock in excess of par value is $34,000
Common stock in excess of stated value is $437,000
Requirements: Prepare a Stockholders' section of Jones classified balance sheet as of December 31, 2014.
Question 2 (5 points)
On January 1, 2016, XYZ Company purchased.
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Transactions for Mehta Company for the month of May are presented below. Prepare journal entries for each of these transactions.
As a way of experiencing the Humanities beyond your classroom, c.docxwraythallchan
As a way of experiencing the Humanities beyond your classroom, computer, and textbook, you are asked to attend a “cultural event” and report on your experience. This assignment requires the following:
Submit your cultural event choice to the instructor for approval before the end of Week 5.
Visit a museum or gallery exhibition of modern art before the end of Week 9.
Write a report of the visit.
Summarize the report in a PowerPoint presentation.
**Please be sure to use a gallery or museum from Columbia SC**
Write a three to four (3-4) page paper (750-1,000 words) in which you:
Identify the date visited, location, name, and background of the museum or specific exhibition. (If virtual, identify the Website along with the other information.)
Describe three (3) works, noting the artist, title, subject, and the time period of each work.
Compare the style, influences, and meaning or intent of each piece, highlighting any changes (if any) from the first to last piece.
Explain your reasons for selecting the pieces in a discussion of the reasons for the artist’s popularity and / or impact on the art world.
Summarize the main points of three (3) works discussed in your paper in a PowerPoint presentation of at least three (3) slides. Each of the slides should have three to four (3-4) short bullet points and notes about the works in the slide notes section. Include a cover page for the PowerPoint. Add the slides with notes to your paper.
Include four (4) references that help support your claims. (The text may be used as one (1) reference.)
Visiting a Museum
It makes sense to approach a museum the way a seasoned traveler approaches visiting a city for the first time. Find out what is available to see. In the museum, find out what sort of exhibitions are currently housed in the museum and start with the exhibits that interest you. If there is a travelling exhibition, it’s always a good idea to see it while you have the chance. Then, if you have time, you can look at other things in the museum.
Make notes as you go through the museum and accept any handouts or pamphlets that the museum provides free. While you should not quote anything from the printed material when you do your report, the handouts may help to refresh your memory later.
The quality of your experience is not measured by the amount of time you spend in the galleries or the number of works of art that you actually see. The most rewarding experiences can come from finding three (3) pieces of art or exhibits that intrigue you and then considering those works in leisurely contemplation. Most museums even have benches where you can sit and study a particular piece.
If you are having a difficult time deciding which pieces to write about, ask yourself these questions: (1) If the museum you are visiting suddenly caught fire, which three (3) pieces of art or exhibits would you most want to see saved from the fire? (2) Why would you choose those two (2) particular pieces?
.
As a social worker, you will meet children and adolescents who a.docxwraythallchan
As a social worker, you will meet children and adolescents who are in complicated family situations and may require a variety of resources for support. There are many times when these situations involve drug abuse, domestic violence, child abuse, and/or neglect. If these factors are present within a child’s or adolescent’s environment, it will impact their development. As mandated reporters, social workers are legally required to report any suspicion they have of child abuse or neglect to local authorities in an effort to ensure a healthier environment within which they can grow.
For this Discussion, review the case study “Working With Clients With Addictions: The Case of Barbara and Jonah.” Consider this week’s reading in the Learning Resources.
.
as buying or selling stocks of businesses using information that.docxwraythallchan
as buying or selling stocks of businesses using information that comes from an
inside
person and is not known to the public. The buyer or seller may have information that would dramatically impact the price of stocks.
Respond to the following:
Using the idea/theory of insider trading, what other benefits can be gained from using private information before others have access to that same information?
.
As discussed, science and technology are not mutually exclusive .docxwraythallchan
As discussed, science and technology are not mutually exclusive but certain aspects are intertwined and one can and often does drive the advancement of the other. Robotics for example began as science fiction and has evolved into a reality because of advances in both science and technology. Recently the emergence of Soft Robotics has melded the two into an almost indistinguishable area of study. One where both technology and science play an integral role.
Various sciences have had significant impact on the advancements of soft robotics. More specifically materials science, biology and physics (continuum mechanics). Nearly every field of engineering plays a role in the technological advancement of soft robotics. Mechanical engineering, electrical and electronic engineering and fluid dynamics are just to name a few areas that without their application of technological advances in-of-themselves we soft robotics would not be where it is today.
The word Robot comes from the Slavic root word “rabota (Работа)” meaning to work. It first appeared in a Czech play in the 1920’s and was further developed into other works of science fiction. Human beings have forever been fascinated by the fine line between Science Fiction and Science Fact. We have used science fiction to catapult our imaginations into a tangible reality. Our desire to reach further and further into space has also sped up the evolution of soft robotics as seen in new space suits under development and the exploration of our nearby planets. The data collection that these robots will provide to further scientific research here on earth will prove to be invaluable in the future. Further employment of soft robotics in existing industries would create the supply and demand effect needed to fund further research and development.
References:
Rus, Daniela and Michael T. Tolley. “Design, Fabrication and Control of Soft Robots.” Nature 521, no. 7553 (May 27, 2015): 467–475.
Hines, Lindsey; Petersen, Kirstin; Lum, Guo Zhan; Sitti, Metin (2017). "Soft Actuators for Small-Scale Robotics". Advanced Materials.
Mather, P. T.; Qin, H.; Liu, C. (2007-04-10). "Review of progress in shape-memory polymers". Journal of Materials Chemistry. 17 (16): 1543–1558.
.
As an entrepreneur or business person who is responsible for making .docxwraythallchan
As an entrepreneur or business person who is responsible for making decisions that impact your organization both internally and externally, describe how you make decisions when they conflict with your personal ethics and instincts? What personal values and ethical standards do you consider most important when making decisions? Provide an example that you have experienced or observed that supports the idea of trusting your intuition and ethical beliefs.
.
As an epic journey to Hell and back, The Inferno clearly traces .docxwraythallchan
As an epic journey to Hell and back,
The Inferno
clearly traces its ancestry, in part, to
The Aeneid
. As an "autobiographical" record of a spiritual struggle, it also has equally obvious roots in Augustine's
Confessions
. We come to this book, then, uniquely well-versed in its literary antecedents. Where do you see the influence of
The Aeneid
in Dante's poem? Of
Confessions
?
- At least 500 words
- use MLA style
.
As a Registered Nurse since 1998, I have seen many changes among.docxwraythallchan
As a Registered Nurse since 1998, I have seen many changes among patient populations. They are getting older, sicker, and resistant pathogens have become more common, extensive, and profound. Not just restricted to heavy use of antibiotics, but environmental pollution with extensive biocides and heavy metals also created resistant pathogens (Singer, 2019).
Environmental pollution poses many dangers to human health, which my potential future role as a nurse practitioner (NP) would serve to research trends, educate, and treat public maladies. Healthcare has become more technological and economically challenging, with the unfortunate complication of making primary care too expensive and unobtainable among populations, including the working poor and working middle class. Medications have become very complex; life-sustaining drugs are subsequently exorbitantly expensive. For example, insulin underuse leading to serious disease complications was one in four, especially in urban areas due to lack of affordability (Bhatia, Chang, & Bilal, 2019). Human populations with such profound needs, including issues with resistant organisms, can be potentially met as an Adult-Gerontology Primary Care Nurse (GPCN) with research, education, and affordable medical management
;
credentialing is essential to get issues across for underserved and ignored populations. Walden University School of Nursing (SON) integrates the nursing process with cost-effective treatment strategies (2019a).
Networking and accessing resources are essential for the GPCN role. This personal mission and vision are in alliance with Walden University’s goal and values, including student-centeredness, quality, and integrity; such opportunities would enable me to achieve such credentialing as GPCN, providing convenient educational opportunities accommodating my work schedule (Walden University, 2019). Walden University further enriches the spirit of evidence-based research, discovery, and critical thinking, effecting social changes improving living conditions for individuals, communities, and society (2019). Walden University’s SON has similar objectives, lending opportunities for specialist nurse practice enabling social change (2019a). As a GPCN, we are professionals that utilize the nursing process integrating assessment, diagnosis, planning, implementing, and evaluation of healthcare strategies enabling access to healthcare to even the socioeconomic disadvantaged (Walden University, 2019a). For example, there are approximately 12 million undocumented immigrants (Beck, Le, Henry-Ikafor, & Shah, 2019). Consider the spread of tuberculosis among the impoverished, being a disease of poverty, the undocumented encounter barriers such as fear of deportation and cost in which the GPCN can bring access to these populations, thereby preventing the spread of disease, and delivering treatment to the afflicted by fostering trust
(
Beck et al., 2019). Making medical access more affordable for unders.
As a social worker, you will often work with clients that are percei.docxwraythallchan
As a social worker, you will often work with clients that are perceived as "others." This "otherness" often leads to marginalization and barriers or limitations promoted by society and social institutions. Marginalization is arguably the most dangerous form of oppression (Adams et al., 2013) because it eventually leads to social expulsion and material deprivation. Social work is a unique profession because it empowers those who are affected by the socially constructed barriers and biases that have perpetuated long-standing inequalities. As you begin your work with clients both as an intern and social worker, it is imperative to consider not only the individual (micro) concerns the client brings to the session but the
environmental
or
macro
factors that may have either created or perpetuated the concern. You can empower your clients by helping them identify and define the oppression they experienced throughout their lifetime. Social work's commitment to social justice includes a hyperawareness of the social constructions that are used to limit some groups' autonomy and viability while supporting others.
By Day 3
Post
an analysis of the dimensions of oppression and marginalization that might impact your future clients. Be specific in identifying the types of clients with whom you might work and provide a specific example of a social injustice, economic injustice, and environmental injustice that clients might experience. In your analysis, explain how the concepts of multiculturalism, power, and privilege are relevant to social work practice.
.
As a social worker, you will meet children and adolescents who are i.docxwraythallchan
As a social worker, you will meet children and adolescents who are in complicated family situations and may require a variety of resources for support. There are many times when these situations involve drug abuse, domestic violence, child abuse, and/or neglect. If these factors are present within a child’s or adolescent’s environment, it will impact their development. As mandated reporters, social workers are legally required to report any suspicion they have of child abuse or neglect to local authorities in an effort to ensure a healthier environment within which they can grow.
For this Discussion, review the case study “Working With Clients With Addictions: The Case of Barbara and Jonah.” Consider this week’s reading in the Learning Resources.
By Day 3
Post
an explanation of influences of Barbara's and Scott’s substance use on Jonah’s future development. Describe an intervention that you would use for Jonah if you were the social worker in this case. Please use the Learning Resources to support your answer.
Plummer, S.-B., Makris, S., & Brocksen S. M. (Eds.). (2014).
Social work case studies: Foundation year
. Baltimore, MD: Laureate International Universities Publishing. [Vital Source e-reader].
Working With Clients With Addictions: The Case of Barbara and Jonah
.
As an entrepreneur, you likely have the objective that one day y.docxwraythallchan
As an entrepreneur, you likely have the objective that one day you will have a very successful company with employees to help you accomplish your mission. When your company grows your ability to monitor the activities of your employees diminishes. While your direct supervision of all of your employees diminishes their ability to act independently increases. As your employees develop more authority to act on behalf of your company, there is a corresponding greater chance that someone might act in some negligent way resulting in the physical or financial injury to someone. The legal doctrine of
respondeat superior
states that an employer may be held legally responsible for the negligent acts of his/her employees while those employees were considered legal agents of the employer or were otherwise acting within the scope of their employ.
Minimum 2 pages
Minimum 2 scholarly sources
Please review attached assignment rubric
Reducing Employee Negligence
100 %
Innovative
4 ptsDynamic
3.2 ptsShines
2.8 ptsStarting
2.4 ptsHaven't Started
0 pts
Action Plan
35 %
Developed an action plan to minimize employee negligence.
Innovative
Developed 5 or more statements which were either value statements or action steps to reduce the chance employees engage in negligent acts that increase liability for business; clear, focused, detailed.
Dynamic
Developed at least 3 statements which were either value statements or action steps to reduce the chance employees engage in negligent acts that increase liability for business; clear and focused.
Shines
Developed statements which were somewhat either a value statement or action step to reduce the chance employees engage in negligent acts that increase liability for business; lacked some clarity and focus.
Starting
Vaguely developed statements which were either a value statement or action step to reduce the chance employees engage in negligent acts that increase liability for business; minimally responsive.
Haven't Started
Did not complete.
Quick feedback: (recent)
Cause and Effect
30 %
Implementation plan to meet the “cause-and-effect” test.
Innovative
Implementation statement met the "cause and effect" test accompanied each (all) action plan statement and included mechanism for success in reducing negligent acts even when "supervisor isn't watching."
Dynamic
Implementation statement met the "cause and effect" test accompanied most action plan statements and included mechanism for success in reducing negligent acts even when "supervisor isn't watching."
Shines
Implementation statement met the "cause and effect" test accompanied at least 1 action plan statement and included mechanism for success in reducing negligent acts even when "supervisor isn't watching."
Starting
Implementation statements included but they did not met the "cause and effect" test.
Haven't Started
Did not complete.
Quick feedback: (recent)
Research
15 %
Completed with use of research..
As an astute social worker and professional policy advocate, once yo.docxwraythallchan
As an astute social worker and professional policy advocate, once you have selected and identified a social problem, you begin the process of creating and implementing a policy that addresses that social problem. One of the first things you do in the implementation process is an analysis of the social policy you identified.
In Part 3 of your ongoing Wiki assignment, your group analyzes the selected social policy.
.
As a newly appointed network administrator, you have been reques.docxwraythallchan
As a newly appointed network administrator, you have been requested to provide a presentation that will be shown to all employees to stress the importance of securing the organization's data against external threats.
Using the library, the Internet, and other materials, prepare a PowerPoint presentation that outlines the following items:
Slide 1:
Title slide
Slide 2:
Presentation overview
Slides 3–4
:
Identify and outline the function of digital certificates.
Slides 5–6
:
Explain the concepts of encrypting data and securing e-mail transmissions.
Slides 7–8
:
Explain what is meant by
social engineering
and the methods that must be taken to secure against these types of attempted attacks.
Slides 9–10
:
References
.
As a Planning Associate, you have been asked to develop a plan t.docxwraythallchan
As a Planning Associate, you have been asked to develop a plan to reduce crime in your community. This two-page plan should discuss some of the more common or frequent crimes in your area. Use at least two sources. Your plan should address the following:
The root cause of the issue
Stakeholders
Outreach
Community involvement
Social capital, and
Recommended resolution technique
Community crimes: Car break-ins, home break-ins
.
As a profession, police are unique in the amount of power they c.docxwraythallchan
As a profession, police are unique in the amount of power they can exercise with the general population. Because of this position of power and trust, police also have great need for training and understanding related to cultural sensitivity and awareness. They deal with populations across the community, and although there has been a recent focus on hiring criminal justice professionals that are representative of the populations they serve on the job, no one officer or group can be representative of all community members. This is where leadership related to police–community relations and cultural sensitivity can bridge the gaps and facilitate awareness.
Consider the following scenario: You have been hired as the chief of police in a community where there are strained police–community relations due to several instances of cultural insensitivity. In addition, police department morale is low due to complaints regarding cultural insensitivity among the police officers.
The Assignment
Create a 4- to 5-page professional report in which you outline a plan to a) improve police–community relations and b) address the morale and cultural insensitivity issues in the police force.
Part I:
Explain two specific steps or programs that you would implement to improve police–community relations. Be specific, and provide evidence from the literature to support your choice of these steps or programs. (2–3 pages)
Part II:
Explain two steps or programs that you would implement within the police force to address morale and cultural insensitivity. Be specific and provide evidence from the literature to support your choice of these steps or programs. (2–3 pages)
Provide at least three scholarly resources to support your recommendations.
.
As a health care manager, you will have many opportunities to presen.docxwraythallchan
As a health care manager, you will have many opportunities to present data to various stakeholders in your organization. Understanding how to communicate this information effectively is a key skill for a manager.
Evaluation Title: Data Presentation
Collect data for any health care related topic.
You may use the CDC databases or other reliable sources.
Be sure to cite the source of your data.
Prepare a PowerPoint presentation to share the data with an audience of your choice.
Include an introduction slide, summarizing the data collected, and who your audience is. This information is for your instructor to use as a background when assessing your presentation.
Illustrate your data using two different display methods (graph, pie chart, etc.)
As part of your presentation (included in speaker’s notes) explain to your audience which display method best represents the message behind the data presented.
Include speaker’s notes, recorded audio, or a separate transcript of the presentation speech. For assistance with speaker notes or recording audio, utilize the following links:
Microsoft Support. (2018).
Add speaker notes to a slide (Links to an external site.)
[Website].
Microsoft Support. (2018).
Record a slide show with narration and slide timings (Links to an external site.)
[Website].
Include references (minimum of two) on a final slide in APA format
.
As a fresh research intern, you are a part of the hypothetical Nat.docxwraythallchan
As a fresh research intern, you are a part of the hypothetical National Anthrax Eradication Program. Your first task is to present a detailed summary of this lethal disease.
Using
the Internet, research, acquire, compile the primary data, and respond to the following:
1. What organism produces this disease and how?
2. What are the four different locations where an anthrax infection can occur? Describe each of these locations. What are the reasons why these locations allow the infection to occur?
3.What are the different scientific methods that have been tried, tested, and implemented towards Anthrax prevention and cure in the past decade?
4.Why is Anthrax such a potent weapon of bioterrorism? What are the characteristics that make it so?
cite your sources in your work and provide references for the citations in APA format.
.
As a manager, discuss how you would use or have used the concepts .docxwraythallchan
As a manager, discuss how you would use or have used the concepts
1) Cost-Volume-Profit Analysis
2) Importance of Profit- cost- volume analysis
3) Variable Costing in Planning
4) Importance of Variable costing
Instrcutions:
1) Original post for two different topics total 600 words
2) 3 Responses to classmates = 450 words total
3) 3 articles/peer reviewed references for one question and 3 Articles/Peer Reviewed references for other question.
4) Citation required in the body.
5) APA format
Response#1(Mahesh)
Cost-Volume-Profit Analysis is observed as the employment of a model that helps in breaking down the complexity that exists between cost of production and operation, quality of goods produced, and the profits generated from the whole undertaking (Lulaj & Iseni, 2018). CVP takes into consideration the influence each aspect of operation or production unit has on the running of an organization. It stipulates the expenses that are to be incurred in a given operation by considering the fixed and variable costs that come with production of a good or a service or yet the sale of a product. This makes it an essential tool in the control of budgetary allocation in an organization as it provides the necessary information that gives direction on the combined activities that are likely to add value to an investor's capital (Serfling, 2016). A major example may be stipulated in the production of a food product, which seems to gain demand on weekends. In such a case, the business producing the product will commit its resources elsewhere during the weekday to optimize on the scarce resources and avoid drowning in expenses example fixed costs such as rent and utilize its production unit to meet the accruing demand on weekends.
Thus, it is without a doubt to state that CVP Analysis is a major tool of planning used in managing risks, optimizing on the scarce resources which are all essential in enhancing customer satisfaction (Lulaj & Iseni, 2018). Essentially, CVP provides information that is crucial in the control and planning of production, among other operational activities in an organization.
Variable Costing
Variable costing revolves around the assigning of the period and product costs in regards to a given kind of product. Researchers observe that it is an essential approach in internal reporting due to its ability to break the complexity that comes along with an organization’s operation and production (Creese, 2017). It addresses costs product costs related to manufacturing and specifically those that can be directly attributed to a product. In this case, it provides enough information that is crucial in controlling the production sector and makes plans through strategies such as budgetary allocation (Serfling, 2016). This is so in that it provides the relationship between the expected and actual costs and through this it becomes easier for the management to schedule their operations, which’s crucial in maximizing the .
As a healthcare professional, you will be working closely with o.docxwraythallchan
As a healthcare professional, you will be working closely with other health care professionals. The best way to create a positive patient experience is to be able to understand the role that each healthcare professional plays in the care of a patient. For this assignment, select two of the following allied health professions (physician, dentist, pharmacist, nurses, advance practice nurse, or health services administrator) and take a deeper look into their specific functions and contributions to health care.
In a paper of 750-1,000 words please discuss the following:
What is their function/medical training?
In what type of setting can each profession be found traditionally? Is this changing today?
Discuss how the expanding roles of allied health in health care delivery have affected each profession.
How has the health care workforce shortage affected each profession?
Provide a minimum of two references.
.
As a DNP-prepared nurse, you will likely encounter many different me.docxwraythallchan
As a DNP-prepared nurse, you will likely encounter many different methods of disseminating the findings and implications of an evidence-based project. Each method has unique benefits. As discussed in this course, oral presentations can be an effective medium for delivering the findings of DNP projects.
For this Discussion, consider what makes an oral presentation effective. How might presentation approaches vary for an academic presentation versus a practice-based presentation?
To prepare:
Review various forms of disseminating the findings of an evidence-based project, as well as strategies for delivering effective presentations in this week’s Learning Resources.
If applicable, reflect on your experiences practicing with colleagues in a small group and presenting in other professional or academic situations. Conduct additional research as necessary to enhance your awareness of what makes a presentation most effective.
Consider how the needs or dispositions of the intended audience may inform your presentation
PLEASE ANSWER TO THE QUESTIONS
Share two or more insights related to presentation approaches and explain how this information may be used to promote the delivery of an effective DNP Project presentation. Be sure to note any considerations related to the intended audience that are important.
.
As a DNP, you will be interacting with individual who have acute.docxwraythallchan
As a DNP, you will be interacting with individual who have acute, chronic or acute on chronic disease process. For this case study, research a disease process that can either be controlled by mobile application and/or through the use of a telehealth program.
1. Discuss the technology you choose to use to research to manage the disease process.
2. Also address how your role as a DNP can be used to monitor and serve a population through a mobile application and/or a telehealth program.
3.Include how you would protect the patient health information when using these technologies
.
Model Attribute Check Company Auto PropertyCeline George
In Odoo, the multi-company feature allows you to manage multiple companies within a single Odoo database instance. Each company can have its own configurations while still sharing common resources such as products, customers, and suppliers.
The French Revolution, which began in 1789, was a period of radical social and political upheaval in France. It marked the decline of absolute monarchies, the rise of secular and democratic republics, and the eventual rise of Napoleon Bonaparte. This revolutionary period is crucial in understanding the transition from feudalism to modernity in Europe.
For more information, visit-www.vavaclasses.com
Operation “Blue Star” is the only event in the history of Independent India where the state went into war with its own people. Even after about 40 years it is not clear if it was culmination of states anger over people of the region, a political game of power or start of dictatorial chapter in the democratic setup.
The people of Punjab felt alienated from main stream due to denial of their just demands during a long democratic struggle since independence. As it happen all over the word, it led to militant struggle with great loss of lives of military, police and civilian personnel. Killing of Indira Gandhi and massacre of innocent Sikhs in Delhi and other India cities was also associated with this movement.
Acetabularia Information For Class 9 .docxvaibhavrinwa19
Acetabularia acetabulum is a single-celled green alga that in its vegetative state is morphologically differentiated into a basal rhizoid and an axially elongated stalk, which bears whorls of branching hairs. The single diploid nucleus resides in the rhizoid.
Introduction to AI for Nonprofits with Tapp NetworkTechSoup
Dive into the world of AI! Experts Jon Hill and Tareq Monaur will guide you through AI's role in enhancing nonprofit websites and basic marketing strategies, making it easy to understand and apply.
Macroeconomics- Movie Location
This will be used as part of your Personal Professional Portfolio once graded.
Objective:
Prepare a presentation or a paper using research, basic comparative analysis, data organization and application of economic information. You will make an informed assessment of an economic climate outside of the United States to accomplish an entertainment industry objective.
June 3, 2024 Anti-Semitism Letter Sent to MIT President Kornbluth and MIT Cor...Levi Shapiro
Letter from the Congress of the United States regarding Anti-Semitism sent June 3rd to MIT President Sally Kornbluth, MIT Corp Chair, Mark Gorenberg
Dear Dr. Kornbluth and Mr. Gorenberg,
The US House of Representatives is deeply concerned by ongoing and pervasive acts of antisemitic
harassment and intimidation at the Massachusetts Institute of Technology (MIT). Failing to act decisively to ensure a safe learning environment for all students would be a grave dereliction of your responsibilities as President of MIT and Chair of the MIT Corporation.
This Congress will not stand idly by and allow an environment hostile to Jewish students to persist. The House believes that your institution is in violation of Title VI of the Civil Rights Act, and the inability or
unwillingness to rectify this violation through action requires accountability.
Postsecondary education is a unique opportunity for students to learn and have their ideas and beliefs challenged. However, universities receiving hundreds of millions of federal funds annually have denied
students that opportunity and have been hijacked to become venues for the promotion of terrorism, antisemitic harassment and intimidation, unlawful encampments, and in some cases, assaults and riots.
The House of Representatives will not countenance the use of federal funds to indoctrinate students into hateful, antisemitic, anti-American supporters of terrorism. Investigations into campus antisemitism by the Committee on Education and the Workforce and the Committee on Ways and Means have been expanded into a Congress-wide probe across all relevant jurisdictions to address this national crisis. The undersigned Committees will conduct oversight into the use of federal funds at MIT and its learning environment under authorities granted to each Committee.
• The Committee on Education and the Workforce has been investigating your institution since December 7, 2023. The Committee has broad jurisdiction over postsecondary education, including its compliance with Title VI of the Civil Rights Act, campus safety concerns over disruptions to the learning environment, and the awarding of federal student aid under the Higher Education Act.
• The Committee on Oversight and Accountability is investigating the sources of funding and other support flowing to groups espousing pro-Hamas propaganda and engaged in antisemitic harassment and intimidation of students. The Committee on Oversight and Accountability is the principal oversight committee of the US House of Representatives and has broad authority to investigate “any matter” at “any time” under House Rule X.
• The Committee on Ways and Means has been investigating several universities since November 15, 2023, when the Committee held a hearing entitled From Ivory Towers to Dark Corners: Investigating the Nexus Between Antisemitism, Tax-Exempt Universities, and Terror Financing. The Committee followed the hearing with letters to those institutions on January 10, 202
How to Make a Field invisible in Odoo 17Celine George
It is possible to hide or invisible some fields in odoo. Commonly using “invisible” attribute in the field definition to invisible the fields. This slide will show how to make a field invisible in odoo 17.
Biological screening of herbal drugs: Introduction and Need for
Phyto-Pharmacological Screening, New Strategies for evaluating
Natural Products, In vitro evaluation techniques for Antioxidants, Antimicrobial and Anticancer drugs. In vivo evaluation techniques
for Anti-inflammatory, Antiulcer, Anticancer, Wound healing, Antidiabetic, Hepatoprotective, Cardio protective, Diuretics and
Antifertility, Toxicity studies as per OECD guidelines
Welcome to TechSoup New Member Orientation and Q&A (May 2024).pdfTechSoup
In this webinar you will learn how your organization can access TechSoup's wide variety of product discount and donation programs. From hardware to software, we'll give you a tour of the tools available to help your nonprofit with productivity, collaboration, financial management, donor tracking, security, and more.
Welcome to TechSoup New Member Orientation and Q&A (May 2024).pdf
Question 2Wilco Corporation has the following account balances a.docx
1. Question 2
Wilco Corporation has the following account balances at
December 31, 2014.
Common stock, $5 par value
$510,000
Treasury stock
90,000
Retained earnings
2,340,000
Paid-in capital in excess of par—common stock
1,320,000
Prepare Wilco’s December 31, 2014, stockholders’ equity
section. (Enter account name only and do not provide
descriptive information.)
WILCO CORPORATION
Stockholders’ Equity
December 31, 2014
$
2. :
$
Question 4
Ravonette Corporation issued 300 shares of $10 par value
common stock and 100 shares of $50 par value preferred stock
for a lump sum of $13,500. The common stock has a market
price of $20 per share, and the preferred stock has a market
price of $90 per share.
Prepare the journal entry to record the issuance. (Round
answers to 0 decimal places, e.g., 1520. Credit account titles are
automatically indented when amount is entered. Do not indent
manually. If no entry is required, select "No Entry" for the
account titles and enter 0 for the amounts.)
Account Titles and Explanation
Debit
Credit
3. Question 5
The outstanding capital stock of Edna Millay Corporation
consists of 2,000 shares of $100 par value, 8% preferred,
and 5,000 shares of $50 par value common.
Assuming that the company has retained earnings of $90,000,
all of which is to be paid out in dividends, and that preferred
dividends were not paid during the 2 years preceding the current
year, state how much each class of stock should receive under
each of the following conditions.
(a) The preferred stock is noncumulative and nonparticipating.
(Round answers to 0 decimal places, e.g. $38,487.)
Preferred
Common
$
$
(b) The preferred stock is cumulative and nonparticipating.
(Round answers to 0 decimal places, e.g. $38,487.)
Preferred
Common
$
4. $
(c) The preferred stock is cumulative and participating. (Round
the rate of participation to 4 decimal places, e.g.1.4278%.
Round answers to 0 decimal places, e.g. $38,487.)
Preferred
Common
$
$
Matt Schmidt Company’s ledger shows the following balances
on December 31, 2014.
7% Preferred Stock—$10 par value, outstanding 20,000 shares
$ 200,000
Common Stock—$100 par value, outstanding 30,000 shares
3,000,000
Retained Earnings
630,000
Assuming that the directors decide to declare total dividends in
the amount of $366,000, determine how much each class of
stock should receive under each of the conditions stated below.
One year‘s dividends are in arrears on the preferred stock.
(a) The preferred stock is cumulative and fully participating.
(Round the rate of participation to 4 decimal places,
e.g.1.4278%. Round answers to 0 decimal places, e.g. $38,487.)
Preferred
Common
$
$
5. (b) The preferred stock is noncumulative and nonparticipating.
(Round answers to 0 decimal places, e.g. $38,487.)
Preferred
Common
$
$
(c) The preferred stock is noncumulative and is participating in
distributions in excess of a 10% dividend rate on the common
stock. (Round the rate of participation to 4 decimal places,
e.g.1.4278%. Round answers to 0 decimal places, e.g. $38,487.)
Preferred
Common
$
$
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On January 1, 2014, Barwood Corporation
granted 5,000 options to executives. Each option entitles the
holder to purchase one share of Barwood’s $5 par value
common stock at $50 per share at any time during the next 5
years. The market price of the stock is $65 per share on the date
of grant. The fair value of the options at the grant date is
$150,000. The period of benefit is 2 years.
Prepare Barwood’s journal entries for January 1, 2014, and
December 31, 2014 and 2015. (Credit account titles are
automatically indented when amount is entered. Do not indent
6. manually. If no entry is required, select "No Entry" for the
account titles and enter 0 for the amounts.)
Date
Account Titles and Explanation
Debit
Credit
1/1/14
12/31/14
12/31/15
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7. Rockland Corporation earned net income of $300,000 in 2014
and had 100,000 shares of common stock outstanding
throughout the year. Also outstanding all year was $800,000 of
10% bonds, which are convertible into 16,000 shares of
common. Rockland’s tax rate is 40 percent.
Compute Rockland’s 2014 diluted earnings per share. (Round
answer to 2 decimal places, e.g. $3.55.)
Diluted earnings per share
$
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Question 9
Ferraro, Inc. established a stock-appreciation rights (SAR)
program on January 1, 2014, which entitles executives to
receive cash at the date of exercise for the difference between
the market price of the stock and the pre-established price of
$20 on 5,000 SARs. The required service period is 2 years. The
fair value of the SARs are determined to be $4 on December 31,
2014, and $9 on December 31, 2015.
Compute Ferraro’s compensation expense for 2014 and 2015.
Ferraro’s compensation expense 2014
$
Ferraro’s compensation expense for 2015
$
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Garfield Company purchased, as a held-to-maturity investment,
$80,000 of the 9%, 5-year bonds of Chester Corporation for
$74,086, which provides an 11% return.
Prepare Garfield’s journal entries for (a) the purchase of the
investment, and (b) the receipt of annual interest and discount
amortization. Assume effective-interest amortization is used.
(Round answers to 0 decimal places, e.g. 1,225. Credit account
titles are automatically indented when amount is entered. Do
not indent manually. If no entry is required, select "No Entry"
for the account titles and enter 0 for the amounts.)
No.
Account Titles and Explanation
Debit
Credit
(a)
(b)
9. Arantxa Corporation made the following cash purchases of
securities during 2014, which is the first year in which Arantxa
invested in securities.
1.
On January 15, purchased 10,000 shares of Sanchez Company’s
common stock at $33.50 per share plus commission $1,980.
2.
On April 1, purchased 5,000 shares of Vicario Co.’s common
stock at $52 per share plus commission $3,370.
3.
On September 10, purchased 7,000 shares of WTA Co.’s
preferred stock at $26.50 per share plus commission $4,910.
On May 20, 2014, Arantxa sold 4,000 shares of Sanchez
Company’s common stock at a market price of $35 per share
less brokerage commissions, taxes, and fees of $3,850. The
year-end fair values per share were Sanchez $30, Vicario $55,
and WTA $28. In addition, the chief accountant of Arantxa told
you that Arantxa Corporation plans to hold these securities for
the long term but may sell them in order to earn profits from
appreciation in prices.
(a) Prepare the journal entries to record the above three security
purchases. (Round answers to 0 decimal places, e.g. 2,500.
Credit account titles are automatically indented when amount is
entered. Do not indent manually. If no entry is required, select
"No Entry" for the account titles and enter 0 for the amounts.)
No.
10. Date
Account Titles and Explanation
Debit
Credit
(1)
Jan. 15, 2014
(2)
Apr. 1, 2014
(3)
Sep. 10, 2014
(b) Prepare the journal entry for the security sale on May 20.
(Round answers to 0 decimal places, e.g. 2,500.Credit account
11. titles are automatically indented when amount is entered. Do
not indent manually. If no entry is required, select "No Entry"
for the account titles and enter 0 for the amounts.)
Date
Account Titles and Explanation
Debit
Credit
May 20, 2014
(c) Compute the unrealized gains or losses. (Round answer to 0
decimal places, e.g. 2,500.)
Unrealized
$
Prepare the adjusting entries for Arantxa on December 31, 2014.
(Round answers to 0 decimal places, e.g. 2,500. Credit account
titles are automatically indented when amount is entered. Do
not indent manually. If no entry is required, select "No Entry"
for the account titles and enter 0 for the amounts.)
Date
Account Titles and Explanation
Debit
Credit
Dec. 31, 2014
12. Question 12
The following are two independent situations.
Situation 1
Conchita Cosmetics acquired 10% of the 200,000 shares of
common stock of Martinez Fashion at a total cost of $13 per
share on March 18, 2014. On June 30, Martinez declared and
paid a $75,000 cash dividend. On December 31, Martinez
reported net income of $122,000 for the year. At December 31,
the market price of Martinez Fashion was $15 per share. The
securities are classified as available-for-sale.
Situation 2
Monica, Inc. obtained significant influence over Seles
Corporation by buying 30% of Seles’s 30,000 outstanding
shares of common stock at a total cost of $9 per share on
January 1, 2014. On June 15, Seles declared and paid a cash
dividend of $36,000. On December 31, Seles reported a net
income of $85,000 for the year.
Prepare all necessary journal entries in 2014 for both situations.
(Credit account titles are automatically indented when amount
is entered. Do not indent manually. If no entry is required,
select "No Entry" for the account titles and enter 0 for the
amounts.)
Date
Account Titles and Explanation
Debit
Credit
Conchita Cosmetics
13. March 18, 2014
June 30, 2014
Dec. 31, 2014
Monica, Inc
Jan. 1, 2014
June 15, 2014
14. Dec. 31, 2014
Parent Co. invested $1,000,000 in Sub Co. for 25% of its
outstanding stock. Sub Co. pays out 40% of net income in
dividends each year.
Use the information in the following T-account for the
investment in Sub to answer the following questions.
Investment in Sub Co.
1,000,000
110,000
44,000
(a) How much was Parent Co.’s share of Sub Co.’s net income
for the year?
Net income
$
(b) How much was Parent Co.’s share of Sub Co.’s dividends
for the year?
Dividends
$
15. (c) What was Sub Co.’s total net income for the year?
Total net income
$
(d) What was Sub Co.’s total dividends for the year?
Total Dividends
$
Jaycie Phelps Inc. acquired 20% of the outstanding common
stock of Theresa Kulikowski Inc. on December 31, 2013. The
purchase price was $1,200,000 for 50,000 shares. Kulikowski
Inc. declared and paid an $0.85 per share cash dividend on June
30 and on December 31, 2014. Kulikowski reported net income
of $730,000 for 2014. The fair value of Kulikowski’s stock was
$27 per share at December 31, 2014.
(a) Prepare the journal entries for Jaycie Phelps Inc. for 2013
and 2014, assuming that Phelps cannot exercise significant
influence over Kulikowski. The securities should be classified
as available-for-sale. (Credit account titles are automatically
indented when amount is entered. Do not indent manually. If no
entry is required, select "No Entry" for the account titles and
enter 0 for the amounts.)
Date
Account Titles and Explanation
Debit
Credit
Dec. 31, 2013
June 30, 2014
16. Dec. 31, 2014
(To record dividend.)
(To record fair value.)
(b) Prepare the journal entries for Jaycie Phelps Inc. for 2013
and 2014, assuming that Phelps can exercise significant
influence over Kulikowski. (Credit account titles are
automatically indented when amount is entered. Do not indent
manually. If no entry is required, select "No Entry" for the
17. account titles and enter 0 for the amounts.)
Date
Account Titles and Explanation
Debit
Credit
Dec. 31, 2013
June 30, 2014
Dec. 31, 2014
(To record dividend.)
18. (To record revenue.)
(c) At what amount is the investment in securities reported on
the balance sheet under each of these methods at December 31,
2014? What is the total net income reported in 2014 under each
of these methods?
Fair Value Method
Equity Method
Investment amount
$
$
Dividend revenue
Investment income (income statement)
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On January 2, 2014, Jones Company purchases a call option for
$300 on Merchant common stock. The call option gives Jones
the option to buy 1,000 shares of Merchant at a strike price of
$50 per share. The market price of a Merchant share is $50 on
January 2, 2014 (the intrinsic value is therefore $0). On March
31, 2014, the market price for Merchant stock is $53 per share,
and the time value of the option is $200.
(a) Prepare the journal entry to record the purchase of the call
option on January 2, 2014. (Credit account titles are
automatically indented when amount is entered. Do not indent
manually. If no entry is required, select "No Entry" for the
account titles and enter 0 for the amounts.)
Date
Account Titles and Explanation
Debit
Credit
Jan. 2, 2014
(b) Prepare the journal entries to recognize the change in the
fair value of the call option as of March 31, 2014. (Credit
account titles are automatically indented when amount is
entered. Do not indent manually. If no entry is required, select
"No Entry" for the account titles and enter 0 for the amounts.)
Date
Account Titles and Explanation
20. Debit
Credit
Mar. 31, 2014
(To record the time value change.)
Mar. 31, 2014
(To record the change in intrinsic value.)
(c) What was the effect on net income of entering into the
derivative transaction for the period January 2 to March 31,
2014?
Unrealized Holding
$
In 2014, Amirante Corporation had pretax financial income of
$168,000 and taxable income of $120,000. The difference is due
to the use of different depreciation methods for tax and
accounting purposes. The effective tax rate is 40%.
21. Compute the amount to be reported as income taxes payable at
December 31, 2014.
Income taxes payable at December 31, 2014
$
Question 17
Clydesdale Corporation has a cumulative temporary difference
related to depreciation of $580,000 at December 31, 2014. This
difference will reverse as follows: 2015, $42,000; 2016,
$244,000; and 2017, $294,000. Enacted tax rates are 34% for
2015 and 2016, and 40% for 2017.
Compute the amount Clydesdale should report as a deferred tax
liability at December 31, 2014.
Deferred tax liability at December 31, 2014
$
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At December 31, 2014, Fell Corporation had a deferred tax
liability of $680,000, resulting from future taxable amounts of
$2,000,000 and an enacted tax rate of 34%. In May 2015, a new
income tax act is signed into law that raises the tax rate to 40%
for 2015 and future years.
22. Prepare the journal entry for Fell to adjust the deferred tax
liability. (Credit account titles are automatically indented when
amount is entered. Do not indent manually.)
Account Titles and Explanation
Debit
Credit
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Lahey Corp. has three defined benefit pension plans as follows.
Pension Assets(at Fair Value)
Projected BenefitObligation
Plan X
$600,000
$500,000
Plan Y
900,000
720,000
23. Plan Z
550,000
700,000
How will Lahey report these multiple plans in its financial
statements?
Pension
$
Pension
$
Manno Corporation has the following information available
concerning its postretirement benefit plan for 2014.
Service cost
$40,000
Interest cost
47,400
Actual and expected return on plan assets
26,900
Compute Manno’s 2014 postretirement expense.
Postretirement expense 2014
$
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24. For 2014, Sampsell Inc. computed its annual postretirement
expense as $240,900. Sampsell’s contribution to the plan during
2014 was $180,000.
Prepare Sampsell’s 2014 entry to record postretirement expense.
(Credit account titles are automatically indented when amount
is entered. Do not indent manually.)
Account Titles and Explanation
Debit
Credit
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Wertz Construction Company decided at the beginning of 2014
to change from the completed-contract method to the
percentage-of-completion method for financial reporting
purposes. The company will continue to use the completed-
contract method for tax purposes. For years prior to 2014,
pretax income under the two methods was as follows:
percentage-of-completion $120,000, and completed-contract
$80,000. The tax rate is 35%.
25. Prepare Wertz’s 2014 journal entry to record the change in
accounting principle. (Credit account titles are automatically
indented when amount is entered. Do not indent manually. If no
entry is required, select "No Entry" for the account titles and
enter 0 for the amounts.)
Account Titles and Explanation
Debit
Credit
2014, Bailey Corporation discovered that equipment purchased
on January 1, 2012, for $50,000 was expensed at that time. The
equipment should have been depreciated over 5 years, with no
salvage value. The effective tax rate is 30%.
Prepare Bailey’s 2014 journal entry to correct the error. (Credit
account titles are automatically indented when amount is
entered. Do not indent manually. If no entry is required, select
"No Entry" for the account titles and enter 0 for the amounts.)
Account Titles and Explanation
Debit
Credit
26. At January 1, 2014, Beidler Company reported retained earnings
of $2,000,000. In 2014, Beidler discovered that 2013
depreciation expense was understated by $400,000. In 2014, net
income was $900,000 and dividends declared were $250,000.
The tax rate is 40%.
Prepare a 2014 retained earnings statement for Beidler
Company.
BEIDLER COMPANY
Retained Earnings Statement
For the Year Ended December 31, 2014
$
:
:
:
$
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Simmons Corporation owns stock of Armstrong, Inc. Prior to
27. 2014, the investment was accounted for using the equity
method. In early 2014, Simmons sold part of its investment in
Armstrong, and began using the fair value method. In 2014,
Armstrong earned net income of $80,000 and paid dividends of
$95,000.
Prepare Simmons’s entries related to Armstrong’s net income
and dividends, assuming Simmons now owns 10% of
Armstrong’s stock. (Credit account titles are automatically
indented when amount is entered. Do not indent manually. If no
entry is required, select "No Entry" for the account titles and
enter 0 for the amounts.)
Account Titles and Explanation
Debit
Credit
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DiCenta Corporation reported net income of $270,000 in 2014
and had 50,000 shares of common stock outstanding throughout
the year. Also outstanding all year were 5,000 shares of
cumulative preferred stock, each convertible into 2 shares of
common. The preferred stock pays an annual dividend of $5 per
28. share. DiCenta’s tax rate is 40%.
Compute DiCenta’s 2014 diluted earnings per share. (Round
answer to 2 decimal places, e.g. $3.55.)
Diluted earnings per share
$
AMR Corporation (parent company of American Airlines)
reported the following for 2009 (in millions).
Service cost
$366
Interest on P.B.O.
737
Return on plan assets
593
Amortization of prior service cost
13
Amortization of net loss
154
Compute AMR Corporation’s 2011 pension expense.
Pension expense
$ millions
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29. For Warren Corporation, year-end plan assets were $2,000,000.
At the beginning of the year, plan assets were $1,780,000.
During the year, contributions to the pension fund were
$120,000, and benefits paid were $200,000.
Compute Warren’s actual return on plan assets.
Actual return on plan assets
$
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For 2012, Campbell Soup Company had pension expense of $73
million and contributed $71 million to the pension fund.
Prepare Campbell Soup Company’s journal entry to record
pension expense and funding. (Credit account titles are
automatically indented when amount is entered. Do not indent
manually. Enter amounts in millions. Ex: 10,000,000 is to be
imputed as 10, eliminating the 000,000.)
Account Titles and Explanation
Debit
Credit
30. Hillsborough Co. has an available-for-sale investment in the
bonds of Schuyler Corp. with a carrying (and fair) value of
$70,000. Hillsborough determined that due to poor economic
prospects for Schuyler, the bonds have decreased in value to
$60,000. It is determined that this loss in value is other-than-
temporary.
Prepare the journal entry, if any, to record the reduction in
value. (Credit account titles are automatically indented when
amount is entered. Do not indent manually. If no entry is
required, select "No Entry" for the account titles and enter 0 for
the amounts.)
Account Titles and Explanation
Debit
Credit
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1
31. 6
Water Quality and Contamination
SCI 207: Dependence of Man on the Environment
ABSTRACT
Ground water is the biggest source of drinking water available
to human population around the world and is rapidly being
polluted because of industrialization and increasing demands of
agriculture around the world. A set of simple experiments were
done to find out what kind of changes do some of these
contaminants cause in ground water. Samples of tap water and
bottled water were also analyzed for safety. Chemicals like oil,
vinegar and soap cause turbidity, odor and color change in
water samples. Tap water is much safer to drink than bottled
water because it contains less contamination than bottles water.
INTRODUCTION
Ground water is present below the surface in porous rocks and
is susceptible to contamination by natural and especially human
related activities. Large amounts of chemicals like soap and
detergents, fertilizers and pesticides, pharmaceutical by-
products are discharged in to fresh water aquifers every day.
These contaminants leach in to the soil and dissolve in ground
water. Different contaminants have different rates of solubility
and degradation once they reach the underground water table
either by simple flow or by the downward movement of rain
water. The ground water may become contaminated with both
organic and inorganic substances especially heavy metals like
Cadmium, Chromium and Nickel, etc. (Christensen et al, 2001).
Pharmaceutical wastes can cause cancer in human cells. (Krifa
et al. 2013). Many pharmaceutically active chemicals reach
32. groundwater sources almost untreated and cause contamination.
(Herber, 2002). Increase in the emissions of carbon dioxide by
burning fossil fuels is the single largest cause of environmental
degradation resulting not only in global warming but also
causing acid rain which alters the pH of ground water. Water is
a universal solvent; however, its dissolving properties are very
sensitive to changes in temperature and pH. Global economic
growth has, unfortunately, resulted in high levels of carbon
dioxide emissions worldwide with the current annual rate at
3.3% from 1.3% in the last decade. (Canadell et al, 2007). The
demands of agricultural output have put a lot pressure on fresh
water sources. Rapid industrialization has led to huge increase
in the usage of ground water. The untreated industrial wastes
are released back in to rivers and streams causing further
pollution. Industrial units are the biggest users of ground water
today with a share of almost 22% of the total water supply
available in the aquifers. (Brown and Brian, 1998).
MATERIALS AND METHODS
Dry clean beakers of 50 cm3 capacity were filled with samples
of ground water. Each beaker contained 25 cm3 of water
sample. Nothing was added to the water sample in the first
beaker. 15 cm3 of oil cooking oil was added to the second water
sample. Same volume of commonly available vinegar was added
to the third sample and a pinch of commonly available laundry
detergent powder was added to the fourth water sample. Potting
soil was added to all other samples. The sixth sample contained
a mixture of soil and oil whereas the seventh water sample
contained. The last sample contained soil with detergent in
water. The experiment was carried out at room temperature and
pressure. Experiments were also carried out to measure the
difference in concentrations of ammonia, phosphates, chloride
etc. in bottled and tap water samples.
RESULTS
SAMPLE
33. CHANGES OBSERVED
COLOR
TRUBIDITY
ODOR
1
None
None
None
2
None
None, however, a layer of oil formed at the top
May have been blocked by the layer of oil
3
None
Slight, cloudy appearance
Typical vinegar smell
4
None
Slight, cloudy appearance with a thin layer of bubbles
None
5
Light brown color
Medium, suspended soil particles mostly at the top layers of
water
Typical potting soil smell detected
6
Light brown color
A shiny layer of oil at the top
Potting soil smell detected
7
Brownish grey
Slight
Typical vinegar smell detected
8
Brown
34. Dark fog like appearance
None
Ammonia Test Results
Water Sample
Test Results
Tap Water
0
Dasani® Bottled Water
0
Chloride Test Results
Water Sample
Test Results
Tap Water
0
Dasani® Bottled Water
500
Fiji® Bottled Water
500
Table 4: 4 in 1 Test Results
Water Sample
pH
Total Alkalinity
Total Chlorine
Total Hardness
Tap Water
7
40
1.0
0 - Soft
Dasani® Bottled Water
3
80
0
120
35. Fiji® Bottled Water
8
0
1.0
50
Phosphate Test Results
Water Sample
Test Results
Tap Water
10
Dasani® Bottled Water
0
Absence of any color or smell gave the water in sample 1 a
pleasing appearance. Although, it might not be absolutely pure,
this water sample might be safe enough to drink as it did not
show any unpleasant physical effects of contamination. Oil is
less dense than water so it formed a thick layer at the top in the
second water sample. This layer prevented any contact of air
with the surface of the water. No particular smell was noted. It
might be possible that the odor was blocked by the layer of oil
at the top. Vinegar is a colorless liquid and weakly acidic.
When vinegar was added to the third water sample it did not
cause any specific change in color, however, it did cause typical
vinegar smell making it a bit unpleasant. When vinegar was
added with potting soil in sample 7, however, the color of the
water changed to brownish grey. The color change may have
been due to the change in pH of the soil. Addition of detergent
in sample 4 resulted in the formation of bubbles because of
lowered surface tension of water. The dark fog like texture
observed in sample 8 might be due to dispersion of soil particles
within the water because of low surface tension. Analysis of the
tap water samples and bottled water samples clearly showed that
tap water is the cleanest source of drinking water since it
contains the least amount of contamination.
36. DISCUSSION
The addition of various chemicals affects the quality of drinking
water and alters its chemical composition. It is vital to regularly
check the level of different contaminants in ground water.
Series of experiments were carried out to check the type of
changes which occur in ground water when different
contaminants like oil and soap are added. As opposed to popular
belief, bottled water came up with more contamination than tap
water which proves that drinking tap water is much safer than
drinking bottled water. However, there are some aspects that
need detailed study like the effect of temperature on the
solubility of contaminants in water. A systematic study is also
needed to review the levels of contaminants in ground water at
different times of the day because humans are mostly active
during day time so the concentrations of contaminants must be
high during the day. However, this idea needs to be verified
through proper research. Study can also be carried out to review
the status of contaminants at different times of the year to
reveal any possible relation between the rate of leaching and
degradation and seasonal variation.
CONCLUSION
Series of experiments were carried out to check if how the
quality of drinking water changes when different contaminants
are added. Noticeable changes were observed in turbidity, color
and odor when oil, detergent and vinegar were added.
Experiments were also carried out to ascertain if bottled water
is safe for consumption as against tap water. The results were
totally unexpected because tap water turned out is far less
contaminated than bottled water. However, more systematic
research is needed to study the parameters of ground water
contamination.
REFERENCES
37. Canadel, J.G., Que’re’, C.L., […..] and Marland, G. 2007.
Contributions to accelerating atmospheric carbon dioxide
growth from economic activity, carbon intensity and effeiciency
if natural sinks. Proct Natl Acad Sci USA. 104(47): 18866-
18870.
Christensen TH, Kjeldsen P, Bjerg PL, Jensen DL, Christensen
JB, Baun A (2001). Biogeochemistry of landfill leachate
plumes. Appl. Geochem., 16: 659–718.
Esceincelabs.com (2012). Introduction to Science. Retrieved
from:
http://managedcourse.next.ecollege.com/pub/content/49a6ebcb-
6f67-4a76-a20a-
7c1f374dd49c/SCI207.W2.Laboratory.pdf
Herberer, T. (2002). Tracking persistent pharmaceutical
residues from municipal sewage to drinking water. J. Hydrol….
Industry to agriculture ratio from Lester R. Brown and Brian
Halweil, “China’s Water Shortage Could Shake World Food
Security,” World Watch, July/August 1998, 13; industrial share
of consumption from Sandra Postel, Dividing the Waters: Food
Security, Ecosystem Health, and the New Politics of Scarcity,
Worldwatch Paper 132 (Washington, DC: Worldwatch Institute,
September 1996), 14.
Krifa, M., Cherif, A., Barillier, D., Mosrati, R., Ghedira, L. &
Mansour, H. (2013). Human cell death in relation to DNA
damage after exposure to the untreated and biologically treated
pharmaceutical wastewater. Environmental Science and
Pollution Research.20(6),3836-3842.