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Universal Chemical Company (UCC) manufactures two products as part of a joint process: A1 and B1. Joint costs up to the split-off point total $20,000. The joint costs are allocated to A1 and B1 in proportion to their relative sales values. At the split-off point, product A1 can be sold for $40,000, whereas product B1 can be sold for $60,000. Product A1 can be processed further to make product A2, at an incremental cost of $35,000. A2 can be sold for $80,000. Product B1 can be processed further to make product B2, at an incremental cost of $45,000. B2 can be sold for $90,000. Joint costs allocated to product A1 total: Question 18 options: $8,000. $12,250. $12,000. $20,000. Solution Product B1 sells for $60,000 Cost allocation for A1 = $40,000 / ($40,000 + $60,000) = .4 For first $20,000, A1 has $20,000 x .4 = $8000 cost All Subsequent costs are allocated to product A2 and B2. So we do not add them in. Final cost - $8000 .

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ACCT 221 Final Exam Part I: 20 Multiple choice questions @ 2.5 points each = 50 points 1. Jackson Company is a publicly held corporation whose $1 par value stock is actively traded at $75 per share. The company issued 3,000 shares of stock to acquire land recently advertised at $200,000. When recording this transaction, Barton Company will – A) debit Land for $200,000. B) debit Land for $225,000. C) credit Common Stock for $195,000. D) credit Paid-In Capital in Excess of Par for $196,000 . 2. Victory Corporation sold 400 shares of treasury stock for $45 per share. The cost for the shares was $35. The entry to record the sale will include a A) credit to Gain on Sale of Treasury Stock for $14,000. B) debit to Paid-in Capital in Excess of Par for $4,000. C) credit to Treasury Stock for $18,000. D) credit to Paid-in Capital from Treasury Stock for $4,000. 3. Which of the following show the proper effect of a stock split and a stock dividend? 4. Dabney, Inc., has 5,000 shares of 5%, $100 par value, noncumulative preferred stock and 40,000 shares of $1 par value common stock outstanding at December 31, 2014. There were no dividends declared in 2013. The board of directors declares and pays a $60,000 dividend in 2014. What is the amount of dividends received by the common stockholders in 2014? A) $0 B) $25,000 C) $10,000 D) $35,000 5. A $600,000 bond was retired at 97 when the carrying value of the bond was $590,000. The entry to record the retirement would include a A) gain on bond redemption of $10,000. B) gain on bond redemption of $8,000. C) loss on bond redemption of $10,000. D) loss on bond redemption of $8,000. 6. The following data are available for Two-off Company. Increase in accounts payable $120,000 Increase in bonds payable 300,000 Sale of investments 150,000 Issuance of common stock 160,000 Payment of cash dividends 90,000 Net cash provided by financing activities is: A) $180,000. B) $360,000. C) $370,000. D) $420,000. 7. The net income reported on the income statement for the current year was $220,000. Depreciation recorded on plant assets was $35,000. Accounts receivable and inventories increased by $2,000 and $8,000, respectively. Prepaid expenses and accounts payable decreased by $2,000 and $12,000 respectively. How much cash was provided by operating activities? A) $200,000 B) $235,000 C) $220,000 D) $255,000 8. If a company reports a net loss, it A) will not be able to pay cash dividends. B) will not be able to get a loan. C) may still have a net increase in cash. D) will not be able to make capital expenditures. 9. A creditor would be most interested in evaluating which of the following ratios? A) Asset turnover B) Earnings per share C) Times interest earned D) Payout ratio 10. Lionel Company has beginning work in process inventory of $220,000 and total manufacturing costs of $900,000. If ending work in process is $210,000 what is the cost of goods manufacture.

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For more classes visit www.snaptutorial.com ACC 434 Final Exams 1. (TCO 1) a significant limitation of activity-based costing is the (Points: 5) 2. (TCO 1) Ireland Company produces a special spray nozzle. The budgeted indirect total cost of inserting the spray nozzle is $180,000. The budgeted number of nozzles to be inserted is 80,000. What is the budgeted indirect cost allocation rate for this activity? (Points: 5) 3. (TCO 2) Overhead costs have been increasing due to all of the following except (Points: 5) 4. (TCO 2) Information pertaining to Brenton Corporation's sales revenue is presented in the following table: February March April

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Two types of closing journal entries are posted to retained earnings at year-end. These are entries to: (A) transfer assets and liabilities to retained earnings. (b) close permanent and temporary accounts. (c) transfer net income (or loss) and dividends declared to retained earnings. (d) transfer revenues and expenses to retained earnings. Solution c) transfer net income (or loss) and dividends declared to retained earnings. .

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Unit 5: Discussion - Technology Ethics The textbook, \"Technology in Action\", states: \"Because technology moves faster than rules can be formulated to govern it, how technology is used is often left up to the individual and the guidance of his or her personal ethics. Ethical considerations are never clear-cut. Theyâ€˜re complex and reasonable people can have different, yet equally valid views.\" What, in your opinion are some examples of how technology is being used unethically? What are some examples of how technology can support ethical behavior? What ethical behaviors do you think are most often ignored by people when using technology? Course: Intro to Computer (CS140) ***PLEASE CITE ANY AND ALL REFERENCES*** Solution Technology is never developed according to ethics rather it was developed according to the need and the intention for which it is made off. technology is developed by a group of person who belongs to some community or may be from different community Each and every community has a different ehtical value and prosperity so it is quite obvious that technology is being used unethically, becasue as said earlier technology is developed according to the need Ethical behavior has become even more unclear than before thanks to technology. Having a code of conduct. Technology is used unethically as human communication over internet allowing people to bully online. Some technology can be use to hack information etc Technology helps to have a code of conduct, resove conflits between and many more like this Ignored ethical behaviours Acceptable behaviour, accepting the user polocies, privacy of any user of that technology and many more .

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Two parallel plates are seperated by a distance 2H. The plates are moved in opposite directions with constant velocity U0. Each Plate is maintained at uniform temperature T0. Taking into consideration dissipation , determine the heat flux at the plates. Assume Laminar flow and neglect gravity effect. Solution lets start the discussion by assuming e1 and e2 as absorptivities and E1 and E2 as emmisive powers of the plates,and also surfaces to be be diffuse and the parallel plates are infinittely long as no information is provided about their lengths.Also consider the space between plates is vaccum. At surface 1 E1=e1*sigma*T^4 surface 2 E2=e2*sigma*T^4 Now of flux E2 a fraction e1*E2 will be absorbed by surface 1 and rest (1-e1)*E2 will be diffused to surface 2.in the same sense of above e2*(1-e1)*E2 will be reflected on surface towards surface 1. hence net radiant heat flux leaving surface 2 is=E2 - e2(1-e1)E2 - e2(1-e2)*(1-e1)^2 ......... on summing up geometric series =E2[e1 / (e1 + e2 -e1*e2)] similarly radiant heat flux on surface 2 from surface 1 is =E1 [e2 / (e1 + e2 - e1*e2)] The above solving is for constant distance Now considering our moving plates issue solid angle is given by = Area / D^2 where D is distance between plates whic is D=2H+U(0)*t But E=integration(i(n)*d(solid angle)) just substituting this expression in above solved method we will get the required solution .

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ult View History Bookmarks Window Help wps.prenhall.com Problem Solving Center Which pair is mismatched? polar-low boiling point polarity-dipole moment dipole moment - -dipole-dipole forces N-H or O-H bonds -hydrogen bonding polarizability -dispersion forces Which of the following is not an example of a network-covalent solid? BN diamond iron SiC SiO2 (sand/glass) Which choice below is not characteristic of a metallic solid? variable melting point (function of identity of metal) extreme brittleness excellent thermal conductivity excellent electrical conductivity variable hardness (function of identity of metal) Solution Polar molecules generally does have higher boiling point due to better intermolecular force. Polar- low boiling point is mismatch Iron is an element and does have metallic bonding between them rather than covalent network Metals generally have ductility and malleability rather than brittleness Extreme brittleness is a mismatch .

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uestion 5 Krispy Kreme Donuts has a leverage of 2.5 What does this mean? (Hint- leverage is calculated as Assets/Equity and you purchase assets with either equity or debt) $2.50 of assets is funded with $1.00 of debt and $1.50 of equity. $2.50 of assets is funded with $1.00 of equity and $1.50 of debt. Assets are funded with 250% debt. Assets are funded with 25% equity. 2.5 donuts equal 1 donut hole Solution Leverage = Assets/ Equity 2.5/1 = 2.5 Assets are 2.5, Equity is 1 Hence the correct option is $2.50 of assets is funded with $1.00 of equity and $1.50 of debt. .

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Two sound sources, I and 2, are emitting spherical waves in air. The figure on the right shows a top-down view of the two sources. The two sources are separated by a distance of 5.0 m. DI. Which of the following is true? (eirele one) a. The two sources are playing in phase with the same wavelength. The two sources are playing out of phase with the same wavelength. b. c. The two sources are playing in phase with 2 ifferent wavelengths The two sources are playing out of phase with different wavelengths 2. For all three points P, Q, and R: Indicate ?r (the path length difference, in terms ofA), and whether there is constructive or destructive interference at that point. Determine the wavelength and frequency of the sound waves. How long should an open-closed tube be in order for its fundamental frequency to match the frequency of the 3. 4. two sources? 5. You are standing directly in line with the two sources. One source is kept stationary while the other is moved away from you. If you hear beats at a frequency of 3 Hz, how fast is the source moving? Solution As observed in figure it can be seen that both sources are out of phase with same wavelengths. .

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Type of financial crisis Type of financial crisis Solution There are mainly 5 types of financial crisis: 1. Banking Crisis - when there is a run on a bank/financial institution. e.g run on Washington Mutual in 2008 2. Currency Crisis - when there is a sudden and wide fluctuation in exchange rate. e.g the recent exchange variation in rouble 3. Speculative Bubbles and Crashes - when there is a sudden crash in the price of speculative assets, like the dot com bubble of 2000 4. International Financial Crisis - Multination crisis, usually caused by very high levels of current account defict. e.g the asian crisis during 1997-98 5. Wider Economic Crisis - A long duration of negative growth or recession. e.g the recession during 2008-09 .

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Typing Answer is Mandatory! Explain the difference between cyclic hydrocarbons, aliphatic compounds, and aromatic compounds. Solution ALIPHATIC COMPOUNDS Compounds whose carbon atoms are linked in open chains, either straight or branched, rather than containing a benzene ring. Alkanes, alkenes, and alkynes are aliphatic compounds. For example methane, propane AROMATIC COMPOUND: Aromatic compounds, also known as arenes or aromatics, are chemical compounds that contain conjugated planar ring systems with delocalized pi electron clouds instead of discrete alternating single an double bonds. when they follow huckle rule they are called aromatic thisÂ Â rule states that if a cyclic, planar molecule has 4n+2 ? electrons, it is considered aromatic. For example benzene, toluene CYCLIC HYDROCARBONS cyclic compounds are formed when carbon atoms bond together to form ring like structures. All the carbon carbon bonds are single bonds unlike aromatic compounds. For example cyclohexane. .

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type of accounts Solution Solution: 1. All of the three are types of Accounts Receivable Uncollectible methods i.e. 2. To arrive at an accurate balance in Bank reconciliation statement, deposits in transit should be subtracted in book . Example - Book balance after deposit of $ 5,000 - $ 10,000 Bank balance during deposit in transit - $ 5,000. In order to match the balance, $ 10,000 - $ 5,000 = $ 5,000 3.To arrive at an accurate balance in Bank reconciliation statement, the service charged should be subtracted or debited from the cash book. Example - Suppose service charged by the bank is $ 50, already subtracted, in order to meet tha balance, this should be subracted from cash book as well. 4. Double declining method and written down value method ignore salvage value of the asset. 5. Current assets can be defined as the assets which held to be sold within in a period od 12 months. Assets which are held for more than 12 months are non-current assets. Further, current assets are either cash or cash equivalents which can be converted into cash within one year or 12 months. .

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Two KPMG auditors, Kevin Hall and Rosemary Meyer, were accused of improper professional conduct in the audit of the financial statements of USFoodservice, a distribution company. US Foodservice in?ated the revenue reported by the company by recognizing income from ?ctitious promotional allowances or recognizing the promotional allowance early. The two KPMGauditors identi?ed valuation, existence, and completeness of the promotional income and receivable as a signi?cant audit area. During the audit, they found numerous cases where the company recognized promotional income when they should not have. In vouching vendor payments received by the company, the auditor discovered that the company had recognized signi?cant unearned prepayments of promotional allowances as income. The working papers show that the auditors identi?ed the revenue recognition attached to these prepayments as audit adjustments, but the adjustments were subsequently removed by liquid white-out. The very existence of the prepayments in the vendor payment ?le contradicted management Solution 1)a)The auditor must state in the auditor\'s report whether the financial statements are presented in accordance with generally accepted accounting principle. b)The auditor must obtain a sufficient understanding of the entity and its environment, including its internal control, to assess the risk of material misstatement of the financial statements whether due to error or fraud, and to design the nature, timing, and extent of further audit procedures. c) The auditor determines that informative disclosures are not reasonably adequate, the auditor must so state in the auditor\'s report. In this case, all three points are ignored. 2)No, the auditor not meet the requirements because auditor have improfessional conduct on his report. 3)Auditor failed to do proper Standards of Field Work as well as Standards of Reporting. .

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Question 28 (3 points) A student performs a titration procedure by adding NaOH to a solution that contains H+ ions. She added the indicator, phenolphthalein, to the flask containing the H+ ions. What was the purpose of adding the indicator to the flask? The indicator adds more Htions to the solution which allows the titration procedure to proceed O faster The indicator is expected to turn pink when the end point of the neutralization reaction occurs. The indicator was used to determine when the amount of Ht ions was greater than the O concentration of OH- ions. Go to Submit Quiz Solution 28. Addition of NaOH to a solution haivng H+ ions. Indicator is added to, -The indicator is expected to turn pink when the end point of the neutralization reaction occurs -- 26. compound that could serve as a reactant in a neutralization reaction is, H2SO4 -- 25. A solution has [H+] = 1 x 10^-9 M pH of the solution = -log(1 x 10^-9) = 9 Answer. 9.0 .

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Question 26 The stock of Kenny Corp. is owned equally by two brothers. During 2008, they transferred land (which had a basis of $300,000 and a fair market value of $320,000) as a contribution to capital to Kenny Corp. During September, 2013, Kenny Corp. adopted a plan of complete liquidation and subsequently made a pro rata distribution of land back to the brothers. At the time of the liquidating distribution, the land had a fair market value of $180,000. What amount of loss can be recognized by Kenny Corp. on the distribution of land? A. $0. B. $20,000. C. $120,000. D. $140,000. Question 27 Henry, Emmy, and Frannie, unrelated individuals, own all of the stock in New Corporation with earnings and profits of $1,200,000 as follows: Henry own 1,300 shares; Emmy owns 400 shares; and Frannie owns 300 shares. New Corporation redeems 300 of Henry Solution 26-b 27-c 28-d 29-b 30-a 31-d 32-b 33-c 34-a 35-b 36-d 37-a 38-c 39-b 40-c 41-a 42-d 43-c 44-b 45-a 46-d 47-c 48-b 49-d 50-c .

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Question 2 Which of the following would be a cash flow from financing activities? (check all that apply) Proceeds from selling equipment Payments to suppliers Proceeds from issuing stock Repayments of principal portion of debt Payments to acquire a company Question 3 A company has the following cash flows: Which growth stage best describes this pattern of cash flows? Decline Early growth Stable Perky Start-up Solution Answer: Following would be a cash flow from financing activities: Proceeds from issuing stock Repayments of principal portion of debt Others: Proceeds from selling equipment (Its Cash flow from investing activity) Payments to suppliers(Its Cash flow from operating activity) Payments to acquire a company(Its Cash flow from investing activity) .

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Question 2 1.Â Â Â Â Â Â Which of the following is not a way managers generally benefit from acquisitions? A. Increased compensation B. Shielding against risk C. Political power D. Social prominence E. Consolidation of other senior executives Solution Option E. Consolidation of other senior executives since Acquisition results in the merge of the executives of two companies after acquisition. .

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Question 19 of 20 5 0 Points A important part of weather science is \"hot air rises\". This is an example of A. conduction B. convection C. radiation es Previous Save F5 FO F F4 F3 F1 F2 Esc Solution \'Hot air rises\' is an example of Convection . It takes place due to bulk motion of molecules within a fluid. Gases and liquid can both be considered fluids. Convection occurs naturally on earth as fluid motion takes places due to differences in density occuring because of change in the temperature gradient. A rise in temperature reduces the density of a fluid and causes it to float over the regions of high density and creates a gap. This gap is filled with surrounding cooler air which rises up again due to heat. This sets up convection current and forms the basis for weather patterns, sea breezes etc Radiation is heat transfer by electromagnetic waves at the speed of light. A hot object radiates heat in the form of waves and it does not require any material medium for propogation. Example for radiation is the Sun\'s energy reaching earth through space which basically is Space (vacuum) having no medium while earth\'s atmosphere consists of air (a composition of gases). .

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