Question & Answer

A silicon wafer has a processable area of 35.0 in2. The yield of good chips on this wafer is Ym = 75%. If the defects are all assumed to be point defects, determine the density of point defects using the Bose-Einstein method of estimating yield.

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

If a retailer buys a product from a wholesaler for £80 and sells it to a consumer for £100, then the £20 of value that has been added will go partly in wages, partly in rent and partly in profits. Thus £20 of income has been generated at the retail stage. But the good actually contributes a total of £100 to GDP. Where then is the remaining £80 worth of income recorded?

Presented below is information related to James Garfield Corp. July 1 James Garfi eld Corp. sold to Warren Harding Co. merchandise having a sales price of $8,000 with terms 2/10, net/60. Garfi eld records its sales and receivables net. 5 Accounts receivable of $9,000 (gross) are factored with Andrew Jackson Credit Corp. without recourse at a fi nancing charge of 9%. Cash is received for the proceeds; collections are handled by the fi nance company. (These accounts were all past the discount period.) 9 Specifi c accounts receivable of $9,000 (gross) are pledged to Alf Landon Credit Corp. as security for a loan of $6,000 at a fi nance charge of 6% of the amount of the loan. The fi nance company will make the collections. (All the accounts receivable are past the discount period.) Dec. 29 Warren Harding Co. notifi es Garfi eld that it is bankrupt and will pay only 10% of its account. Give the entry to write off the uncollectible balance using the allowance method. (Note: First record the increase in the receivable on July 11 when the discount period passed.) Instructions Prepare all necessary entries in general journal form for Garfield Corp.

A spot weld was made using an arc-welding process. In a spot-welding operation, two 1/16-in-thick aluminum plates were joined. The melted metal formed a nugget that had a diameter of ¼ in. The operation required the power to be on for 4 sec. Assume the final nugget had the same thickness as the two aluminum plates (1/8 in thick), the heat transfer factor was 0.80 and the melting factor was 0.50. Determine the rate of heat generation that was required at the source to accomplish this weld.

Recently, your uncle, Carlos Beltran, who knows that you always have your eye out for a profitable investment, has discussed the possibility of your purchasing some corporate bonds. He suggests that you may wish to get in on the “ground floor” of this deal. The bonds being issued by Neville Corp. are 10-year debentures which promise a 40% rate of return. Neville manufactures  novelty/party items. You have told Neville that, unless you can take a look at its financial statements, you would not feel comfortable about such an investment. Believing that this is the chance of a lifetime, Uncle Carlos has procured a copy of Neville’s most recent, unaudited financial statements which are a year old. These statements were prepared by Mrs. Andy Neville. You peruse these statements, and they are quite impressive. The balance sheet showed a debt-to-equity ratio of 0.10 and, for the year shown, the company reported net income of $2,424,240. The financial statements are not shown in comparison with amounts from other years. In addition, no significant note disclosures about inventory valuation, depreciation methods, loan agreements, etc. are available. Instructions Write a letter to Uncle Carlos explaining why it would be unwise to base an investment decision on the financial statements that he has provided to you. Be sure to explain why these financial statements are neither relevant nor representationally faithful.

Roland Company uses special strapping equipment in its packaging business. The equipment was purchased in January 2013 for $10,000,000 and had an estimated useful life of 8 years with no salvage value. At December 31, 2014, new technology was introduced that would accelerate the obsolescence of Roland’s equipment. Roland’s controller estimates that expected future net cash flows on the equipment will be $6,300,000 and that the fair value of the equipment is $5,600,000. Roland intends to continue using the equipment, but it is estimated that the remaining useful life is 4 years. Roland uses straightline depreciation. Instructions (a) Prepare the journal entry (if any) to record the impairment at December 31, 2014. (b) Prepare any journal entries for the equipment at December 31, 2015. The fair value of the equipment at December 31, 2015, is estimated to be $5,900,000. (c) Repeat the requirements for (a) and (b), assuming that Roland intends to dispose of the equipment and that it has not been disposed of as of December 31, 2015.

According to the video, what are four possible functions of the electrodes in resistance spot welding?

How does the acid-test ratio differ from the current ratio? How are they similar?

Why are historical and international comparisons of deficit and debt measures best presented as proportions of GDP?

Salen Company finances some of its current operations by assigning accounts receivable to a finance company. On July 1, 2014, it assigned, under guarantee, specific accounts amounting to $150,000. The finance company advanced to Salen 80% of the accounts assigned (20% of the total to be withheld until the finance company has made its full recovery), less a finance charge of ½% of the total accounts assigned. On July 31, Salen Company received a statement that the finance company had collected $80,000 of these accounts and had made an additional charge of ½% of the total accounts outstanding as of July 31. This charge is to be deducted at the time of the first remittance due Salen Company from the finance company. (Hint: Make entries at this time.) On August 31, 2014, Salen Company received a second statement from the finance company, together with a check for the amount due. The statement indicated that the finance company had collected an additional $50,000 and had made a further charge of ½% of the balance outstanding as of August 31. Instructions Make all entries on the books of Salen Company that are involved in the transactions above.

What are factors to be considered in estimating the useful alife of an intangible asset?

Presented below is information related to Candlebox Enterprises. J an. 31 Feb. 28 M ar. 31 A pr. 30 Inventory at cost $15,000 $15,100 $17,000 $13,000 Inventory at the lower-of-cost-or-market 14,500 12,600 15,600 12,300 Purchases for the month 20,000 24,000 26,500 Sales revenue for the month 29,000 35,000 40,000 Instructions (a) From the information, prepare (as far as the data permit) monthly income statements in columnar form for February, March, and April. The inventory is to be shown in the statement at cost, the gain or loss due to market fluctuations is to be shown separately, and a valuation account is to be set up for the difference between cost and the lower of cost or market. (b) Prepare the journal entry required to establish the valuation account at January 31 and entries to adjust it monthly thereafter.

What is done to record properly a transaction involving the issuance of a non-interest-bearing long-term note in exchange for property?

Jim was injured in an accident and his surgeon botched the medical procedure.  Jim recovered $5,000 from the doctors for pain and suffering and $2,000 for emotional distress.  Determine the taxability of these payments and briefly explain to Jim the apparent rationale for including or excluding these payments from gross income.

An end milling operation is carried out along a straight line path that is 325 mm long. The cut is in a direction parallel to the x-axis on an NC machining center. Cutting speed = 30 m/min and chip load = 0.06 mm. The end milling cutter has two teeth and its diameter = 16.0 mm. The x-axis uses a DC servomotor connected directly to a leadscrew whose pitch = 6.0 mm. The feedback sensing device is an optical encoder that emits 400 pulses per revolution. Determine (a) feed rate and time to complete the cut, and (b) rotational speed of the motor and the pulse rate of the encoder at the feed rate indicated.

A cup-shaped part is backward extruded from an aluminum slug that is 50 mm in diameter. The final dimensions of the cup are: OD = 50 mm, ID = 40 mm, height = 100 mm, and thickness of base = 5 mm. Determine (a) extrusion ratio, (b) shape factor, and (c) height of starting slug required to achieve the final dimensions. (d) If the metal has flow curve parameters K = 400 MPa and n = 0.25, and the constants in the Johnson extrusion strain equation are: a = 0.8 and b = 1.5, determine the extrusion force.

Suppose you asked your favorite AI query tool “How long is the carryover period for NOLs incurred in 2024?” and the AI tool responded as follows:   The carryover period for a net operating loss (NOL) incurred in 2024 would typically be up to 20 years. This means that the corporation or individual with the NOL can carry the loss forward and use it to offset taxable income in future tax years for up to 20 years from the year in which the NOL was generated.   Is the AI answer to the question correct?  Explain.

An extruder has barrel diameter and length of 100 mm and 2.8 m, respectively. The screw rotational speed = 50 rev/min, channel depth = 7.5 mm, and flight angle = 17°. The plastic melt has a shear viscosity = 175 Pa-s. Determine: (a) the extruder characteristic, (b) the shape factor Ks for a circular die opening with diameter = 3.0 mm and length = 12.0 mm, and (c) the operating point (Q and p).

Describe the all-events test for recognizing taxable income.

What are some of the challenges to the FASB and IASB in developing a converged conceptual framework?

A vertical true centrifugal casting process is used to cast brass tubing that is 15.0 in long and whose outside diameter = 8.0 in. If the speed of rotation during solidification is 1000 rev/min, determine the inside diameters at the top and bottom of the tubing if the total weight of the final casting = 75.0 lbs.

1. Could isoquants ever cross? 2. Could they ever slope upward to the right? Explain your answers.

Olympia Corporation, of Kittery, Maine, wants to exchange its manufacturing facility for Bangor Company’s warehouse. Both parties agree that that Olympia’s building is worth $100,000 and that Bangor’s building is worth $95,000. Olympia would like the transaction to qualify as a like-kind exchange. What could the parties do to equalize the value exchanged but still allow the exchange to qualify as a like-kind exchange?  How would the necessary change affect the tax consequences of the transaction?

] Clyde lives and operates a sole proprietorship in Dallas, Texas. This year Clyde found it necessary to travel to Fort Worth (about 25 miles away) for legitimate business reasons. Is Clyde’s trip likely to qualify as “away from home”? Why would this designation matter?