Question & Answer

There are several ways of shaping plate or sheet glass. Name and briefly describe one of them

What is cross-linking in a polymer, and what is its significance?

Under what circumstances would a Phillips loop (a) be tall and thin; (b) short and wide?

{Planning} Clark owns stock in BCS Corporation that he purchased in January of the current year.  The stock has appreciated significantly during the year.  It is now December of the current year, and Clark is deciding whether or not he should sell the stock.  What tax and nontax factors should Clark consider before making the decision on whether to sell the stock now?

What are the steps to be completed in preparing the opening IFRS statement of financial position?

Hollenbeck Foods Inc. sponsors a postretirement medical and dental benefit plan for its employees. The following balances relate to this plan on January 1, 2014. Plan assets $200,000 Expected postretirement benefi t obligation 820,000 Accumulated postretirement benefi t obligation 200,000 No prior service costs exist. As a result of the plan’s operation during 2014, the following additional data are provided by the actuary. Service cost is $70,000 Discount rate is 10% Contributions to plan are $65,000 Expected return on plan assets is $10,000 Actual return on plan assets is $15,000 Benefi ts paid to employees are $44,000 Average remaining service to full eligibility: 20 years Instructions (a) Using the preceding data, compute the net periodic postretirement benefit cost for 2014 by preparing a worksheet that shows the journal entry for postretirement expense and the year-end balances in the related postretirement benefit memo accounts. (Assume that contributions and benefits are paid at the end of the year.) (b) Prepare any journal entries related to the postretirement plan for 2014 and indicate the postretirement amounts reported in the financial statements for 2014.

In January 2014, Susquehanna Inc. requested and secured permission from the commissioner of the Internal Revenue Service to compute inventories under the last-in, first-out (LIFO) method and elected to determine inventory cost under the dollar-value LIFO method. Susquehanna Inc. satisfied the commissioner that cost could be accurately determined by use of an index number computed from a representative sample selected from the company’s single inventory pool. Instructions (a) Why should inventories be included in (1) a balance sheet and (2) the computation of net income? (b) The Internal Revenue Code allows some accountable events to be considered differently for income tax reporting purposes and financial accounting purposes, while other accountable events must be reported the same for both purposes. Discuss why it might be desirable to report some accountable events differently for financial accounting purposes than for income tax reporting purposes. (c) Discuss the ways and conditions under which the FIFO and LIFO inventory costing methods produce different inventory valuations. Do not discuss procedures for computing inventory cost.

Identify some of the ways in which force in flat rolling can be reduced.

1.       During times of significant organizational change, such as downsizing or a pandemic, the grapevine becomes more active as anxious employees share organizational news and rumors. As a manager, what communication strategies would you employ during a time of uncertainty in the workplace? What are the advantages and disadvantages of gossip during a time of uncertainty?

Given the following tax structure, what minimum tax would need to be assessed on Shameika to make the tax progressive with respect to average tax rates?

List some rate-sensitive assets and some rate-insensitive assets of banks. (LO3)

An article in Barron’s noted the following. Okay. Last fall, someone with a long memory and an even longer arm reached into that bureau drawer and came out with a moldy cheese sandwich and the equally moldy notion of corporate forecasts. We tried to find out what happened to the cheese sandwich—but, rats!, even recourse to the Freedom of Information Act didn’t help. However, the forecast proposal was dusted off, polished up and found quite serviceable. The SEC, indeed, lost no time in running it up the old flagpole—but no one was very eager to salute. Even after some of the more objectionable features—compulsory corrections and detailed explanations of why the estimates went awry—were peeled off the original proposal. Seemingly, despite the Commission’s smiles and sweet talk, those craven corporations were still afraid that an honest mistake would lead them down the primrose path to consent decrees and class action suits. To lay to rest such qualms, the Commission last week approved a “Safe Harbor” rule that, providing the forecasts were made on a reasonable basis and in good faith, protected corporations from litigation should the projections prove wide of the mark (as only about 99% are apt to do). Instructions (a) What are the arguments for preparing profit forecasts? (b) What is the purpose of the “safe harbor” rule? (c) Why are corporations concerned about presenting profit forecasts?

Assume that Toni Braxton Company has recently fallen into financial difficulties. By reviewing all available evidence on December 31, 2014, one of Toni Braxton’s creditors, the National American Bank, determined that Toni Braxton would pay back only 65% of the principal at maturity. As a result, the bank decided that the loan was impaired. If the loss is estimated to be $225,000, what entry(ies) should National American Bank make to record this loss?

What are the economic arguments for larger ‘systemically important banks’ (SIBs) having an additional capital requirement?

Bob’s Lottery, Inc., has decided to offer winners a choice of $100,000 in ten years or some amount currently.  Assume that Bob’s Lottery, Inc., earns a 10 percent after-tax rate of return.  What amount should Bob offer lottery winners currently, in order for him to be indifferent between the two choices?

Theory Assume an expectation of lower interest rates in the future arises quite suddenly. What would be the effect on the shape of the yield curve? Explain. (LO3)

Should management be excited if all variances for the period are           favourable?

Compute the unit melting energy for (a) aluminum and (b) steel as the sum of: (1) the heat required to raise the temperature of the metal from room temperature to its melting point, which is the volumetric specific heat multiplied by the temperature rise; and (2) the heat of fusion, so that this value can be compared to the unit melting energy calculated by Eq. (29.2). Use either the SI units orU.S. Customary units. Find the values of the properties needed in these calculations either in this text or in other references. Are the values close enough to validate Eq. (29.2)?

What are some common separately stated items, and why must they be separately stated to the partners?

A facing operation is performed on an engine lathe. The diameter of the cylindrical part is 6 in and the length is 15 in. The spindle rotates at a speed of 180 rev/min. Depth of cut = 0.110 in, and feed = 0.008 in/rev. Assume the cutting tool moves from the outer diameter of the workpiece to exactly the center at a constant velocity. Determine (a) the velocity of the tool as it moves from the outer diameter towards the center and (b) the cutting time.

Lane and Cal each own 50 percent of the profits and capital of HighYield LLC. HighYield owns a portfolio of taxable bonds and municipal bonds, and

What are some of the limitations of adhesive bonding?

: Describe how unconscious bias can contribute to an environment that limits the advancement of women, people of color, and other underrepresented employees.

Compare actual and normal cost systems. Discuss the ways in which they are similar and the ways they differ.

1. How much would be the total tax revenue for the government? 2. Will the individual producers gain from the export tax?