Question & Answer

For each of the four part drawings in Figure P16.14, indicate which PM class the parts belong to, whether the part must be pressed from one or two directions, and how many levels of press control will be required? Dimensions are mm.

Hobbs Co. has the following defined benefit pension plan balances on January 1, 2014. Projected benefi t obligation $4,600,000 Fair value of plan assets 4,600,000 The interest (settlement) rate applicable to the plan is 10%. On January 1, 2015, the company amends its  agreement so that prior service costs of $600,000 are created. Other data related to the pension plan are: 2014 2015 Service cost $150,000 $170,000 Prior service cost amortization –0– 90,000 Contributions (funding) to the plan 200,000 184,658 Benefi ts paid 220,000 280,000 Actual return on plan assets 252,000 350,000 Expected rate of return on assets 6% 8% Instructions (a) Prepare a pension worksheet for the pension plan in 2014. (b) Prepare any journal entries related to the pension plan that would be needed at December 31, 2014. (c) Prepare a pension worksheet for 2015 and any journal entries related to the pension plan as of December 31, 2015. (d) Indicate the pension-related amounts reported in the 2015 financial statements.

Define yield strength of a material.

What is a cermet?

Harriet and Harry Combs (both 37 years old) are married and both want to contribute to a Roth IRA. In the current year, their AGI before any IRA contribution deductions is $50,000. Harriet earned $46,000 and Harry earned $4,000. a. How much can Harriet contribute to her Roth IRA if they file a joint return? b. How much can Harriet contribute if she files a separate return? c. How much can Harry contribute to his Roth IRA if they file separately?

What is the minimum amount by which the pay-off of £500 would have to increase in order for you personally to agree to wait for another 24 hours before receiving it?

Explain the nature of cryptocurrencies and their applications. (LO3)

Balanced scorecard; incentives Many organisations use a balanced scorecard set of measures to determine the short-term incentive for senior managers and executives.   Required Outline any potential difficulties associated with using a set of balanced scorecard measures to determine the short-term incentive. (LO2 and 3)

Bowling Green Savings & Loan uses shortterm deposits to fund fixed-rate mortgages. Explain how Bowling Green can use interest rate swaps to hedge its interest rate risk. (LO1)

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

Vania Magazine Company started construction of a warehouse building for its own use at an estimated cost of $5,000,000 on January 1, 2013, and completed the building on December 31, 2013. During the construction period, Vania has the following debt obligations outstanding. Construction loan—12% interest, payable semiannually, issued December 31, 2012 $2,000,000 Short-term loan—10% interest, payable monthly, and principal payable at maturity, on May 30, 2014 1,400,000 Long-term loan—11% interest, payable on January 1 of each year; principal payable on January 1, 2016 1,000,000 Total cost amounted to $5,200,000, and the weighted average of accumulated expenditures was $3,500,000. Jane Esplanade, the president of the company, has been shown the costs associated with this construction project and capitalized on the balance sheet. She is bothered by the “avoidable interest” included in the cost. She argues that, first, all the interest is unavoidable—no one lends money without expecting to be compensated for it. Second, why can’t the company use all the interest on all the loans when computing this avoidable interest? Finally, why can’t her company capitalize all the annual interest that accrued over the period of construction? Instructions (Round the weighted-average interest rate to two decimal places.) You are the manager of accounting for the company. In a memo, explain what avoidable interest is, how you computed it (being especially careful to explain why you used the interest rates that you did), and why the company cannot capitalize all its interest for the year. Attach a schedule supporting any computations that you use.

What is the difference between the traditional ceramics and the new ceramics, as far as raw materials are concerned?

Suppose it is desired to produce a memory device that will be contained in a dual-in-line package with 32 I/O leads. How many memory cells can be contained in the device, as estimated by (a) Rent's rule with C = 6.0 and m = 0.12?

1.      : Launch a full-scale investigation of employee complaints about Pate and make Pate aware that his documented history over the past ten years has put him on thin ice.

Explain the transaction approach to measuring income. Why is the transaction approach to income measurement preferable to other ways of measuring income?

How does a partner determine their basis in distributed assets when the partnership distributes other property in addition to money and hot assets?

What are the two basic classes of metal powders as far as chemistry is concerned?

It is desired to estimate the cutting temperature for a certain alloy steel whose hardness = 240 Brinell. Use the appropriate value of specific energy from Table 21.2 and compute the cutting temperature by means of the Cook equation for a turning operation in which the cutting speed is 500 ft/min, feed is 0.005 in/rev, and depth of cut is 0.070 in. The work material has a volumetric specific heat of 210 in lb/in3 -F and a thermal diffusivity of 0.16 in2 /sec. Assume ambient temperature = 88°F.

Where can authoritative IFRS related to the statement of cash flows be found?

An orthogonal cutting operation is performed using a rake angle of 15°, chip thickness before the cut = 0.012 in and width of cut = 0.100 in. The chip thickness ratio is measured after the cut to be 0.55. Determine (a) the chip thickness after the cut, (b) shear angle, (c) friction angle, (d) coefficient of friction, and (e) shear strain.

Penn Company was formed on July 1, 2012. It was authorized to issue 300,000 shares of $10 par value common stock and 100,000 shares of 8% $25 par value, cumulative and nonparticipating preferred stock. Penn Company has a July 1–June 30 fiscal year. The following information relates to the stockholders’ equity accounts of Penn Company. Common Stock Prior to the 2014–2015 fiscal year, Penn Company had 110,000 shares of outstanding common stock issued as follows. 1. 85,000 shares were issued for cash on July 1, 2012, at $31 per share. 2. On July 24, 2012, 5,000 shares were exchanged for a plot of land which cost the seller $70,000 in 2006 and had an estimated fair value of $220,000 on July 24, 2012. 3. 20,000 shares were issued on March 1, 2013, for $42 per share. During the 2014–2015 fiscal year, the following transactions regarding common stock took place. November 30, 2014 Penn purchased 2,000 shares of its own stock on the open market at $39 per share. Penn uses the cost method for treasury stock. December 15, 2014 Penn declared a 5% stock dividend for stockholders of record on January 15, 2015, to be issued on January 31, 2015. Penn was having a liquidity problem and could not afford a cash dividend at the time. Penn’s common stock was selling at $52 per share on December 15, 2014. June 20, 2015 Penn sold 500 shares of its own common stock that it had purchased on November 30, 2014, for $21,000. Preferred Stock Penn issued 40,000 shares of preferred stock at $44 per share on July 1, 2013. Cash Dividends Penn has followed a schedule of declaring cash dividends in December and June, with payment being made to stockholders of record in the following month. The cash dividends which have been declared since inception of the company through June 30, 2015, are shown below. Declaration Common Preferred Date Stock Stock 12/15/13 $0.30 per share $1.00 per share 6/15/14 $0.30 per share $1.00 per share 12/15/14 — $1.00 per share No cash dividends were declared during June 2015 due to the company’s liquidity problems. Retained Earnings As of June 30, 2014, Penn’s retained earnings account had a balance of $690,000. For the fiscal year ending June 30, 2015, Penn reported net income of $40,000. Instructions Prepare the stockholders’ equity section of the balance sheet, including appropriate notes, for Penn Company as of June 30, 2015, as it should appear in its annual report to the shareholders

Of what value is a common set of standards in financialaccounting and reporting?

Explain how the failure of a large commercial bank could cause a worldwide swap credit crisis. (LO1, LO7)

Why is it difficult to test the assumption that firms seek to maximise long-run profits?

How might the possibility of labour shirking affect the real wage firms are willing to pay?