Financial Accounting Theory and Analysis Text and Cases 12th edition Richard G. Schroeder, Myrtle W. Clark, Jack M. Cathey - Solutions

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An instrument weighing 5 lb is mounted on the housing of a pump that rotates at 30 rpm. The amplitude of motion of the housing is 0.003 ft. We want no more than 10% of the housing's motion to be transmitted to the instrument. Design a suitable isolator having negligible damping. Compute the force
Figure P13.7 shows a system being driven by base excitation through a damping element. Assume that the base displacement is sinusoidal: y(t) = Y sin (t.a. Derive the expression for X, the steady-state amplitude of motion of the mass m.b. Derive the expression for Ft, the steady-state amplitude of
Consider the vehicle suspension problem in Example 13.1.1. Investigate the choice of the damping constant c so that the displacement transmissibility X/Y is as small as possible for the case where the speed gives a frequency ratio of r = 2. Do this by trying different values for the damping ratio
Consider the vehicle suspension problem in Example 13.1.1. Suppose the amplitude of variation of the road surface is 5/8 in. Determine a set of values for the suspension's stiffness k and damping c so that the force transmitted to the chassis will be as small as possible at 40 mi/hr. For your
In 2013 Airbus announced a contract to deliver 50 A380 airplanes to Emirates for $20 billion to be delivered between 2016 and 2018. Required: Outline the five‐step revenue recognition process for this transaction.
Discuss how a company's primary financial statements are useful to potential investors who are trying to decide whether to buy stock in the company. Support your discussion by citing objectives outlined in the Conceptual Framework.
Sometimes a business entity changes its method of accounting for certain items. The change may be classified as a change in accounting principle, a change in accounting estimate, or a change in reporting entity. Following are three independent, unrelated sets of facts relating to accounting
The following financial statement was prepared by employees of your client, Linus Construction Company. The statement is not accompanied by footnotes, but you have discovered the following:The average completion period for the company's jobs is 18 months. The company's method of journalizing
Obtain a copy of a large corporation's annual report, and refer to the statement of cash flows. Required: a. Did the company use the direct method or the indirect method of disclosing cash flows? b. Comment on the relationship between cash flows from operations and net income for the year of the
FASB ASC 320 (generally effective until 2018) requires companies to assign their portfolio of investment securities into 1. Trading securities 2. Securities available for sale 3. Held‐to‐maturity securities Required: a. Define each of these categories of securities, and discuss the accounting
On December 31, 2016, Carme Company had significant amounts of accounts receivables as a result of credit sales to its customers. Carme uses the allowance method based on credit sales to estimate bad debts. Based on experience, 1 percent of credit sales normally will not be collected. This pattern
On October 10, 2016, Mason Engineering Company completed negotiations on a contract for the purchase of new equipment. Under the terms of the agreement, the equipment may be purchased now or Mason may wait until January 10, 2017, to make the purchase. The cost of the equipment is $400,000. It will
Jay Manufacturing, Inc., began operations five years ago producing the probos, a new type of instrument it hoped to sell to doctors, dentists, and hospitals. The demand for probos far exceeded initial expectations, and the company was unable to produce enough probos to meet that demand. Jay was
On July 1, 2017, Dynamic Company purchased for cash 40 percent of the outstanding capital stock of Cart Company. Both Dynamic and Cart have a December 31 year‐end. Cart, whose common stock is actively traded in the over‐the‐counter market, reported its total net income for the year to
The Thomas Company is in the process of developing a revolutionary new product. A new division of the company was formed to develop, manufacture, and market this product. As of year‐end (December 31, 2017), the product has not been manufactured for resale; however, a prototype unit was built and
Watson Company has several investments in the securities of other companies. The following information regarding these investments is available at December 31, 2016. 1. Watson holds bonds issued by Fowler Corp. The bonds have an amortized cost of $600,000, and their fair value at December 31, 2016,
On January 1, 2016, Plywood Homes, Inc., issued 20‐year, 4 percent bonds having a face value of $1 million. The interest on the bonds is payable semiannually on June 30 and December 31. The proceeds to the company were $975,000 (i.e., on the day they were issued the bonds had a market value of
Whiley Company issued a $100,000, five‐year, 10 percent note to Security Company on January 2, 2016. Interest was to be paid annually each December 31. The stated rate of interest reflected the market rate of interest on similar notes. Whiley made the first interest payment on December 31, 2016.
Baker Company needs $1 million to expand its existing plant. Baker management is considering the following two alternative forms of financing:1. At the beginning of 2017, issue $1 million of convertible, 10‐year, 10 percent bonds. Each $1,000 bond can be converted into 20 shares of Baker $10 par
On January 2, 2017, two identical companies, Daggar Corp. and Bayshore Company, lease similar assets with the following characteristics:1. The economic life is eight years.2. The term of the lease is five years.3. Lease payment of $20,000 per year is due at the beginning of each year beginning
On January 2, 2017, Grant Corporation leases an asset to Pippin Corporation under the following conditions (assume Grant has not early adopted the new lease standard):1. Annual lease payments are $10,000 for 20 years.2. At the end of the lease term, the asset is expected to have a value of
On January 1, 2017, Von Company entered into two non cancelable leases for new machines to be used in its manufacturing operations. The first lease does not contain a bargain purchase option; the lease term is equal to 80 percent of the estimated economic life of the machine. The second lease
Growth Corporation offered the following stock option plan to its employees: Each employee will receive 1,000 options to purchase shares of stock at an option price equal to the market price of the company's common shares on the grant date, January 1, 2017. On that date: The market price per share
Drake Company reported the following for 2017:Current assets............................................$87,000Current liabilities..........................................19,000Revenues.....................................................450,000Cost of goods
Carrol, Inc., accomplished a quasi‐reorganization effective December 31, 2017. Immediately before the quasi‐reorganization, the stockholders' equity was as follows: Common Stock, Par Value................................$10 per Share Authorized issued and outstanding $4,000,000......400,000
On January 1, 2016, as an incentive to improved performance of duties, Recycling Corporation adopted a qualified stock option plan to grant corporate executives nontransferable stock options to 500,000 shares of its unissued $1 par value common stock. The options were granted on May 1, 2016, at
Purity Company acquired all of the net assets of Soltice Company on November 1, 20x1. As a result Soltice became a 100% percent owned subsidiary of Purity. After allocating the cost of the net acquisition to the net assets of Soltice, the remainder ($100,000) was reported in the December 31, 20x1
The Fillups Company has been in the business of exploring for oil reserves. During 2017, $10 million was spent drilling wells that were dry holes. Under U.S. GAAP, Fillups has the option of accounting for these costs by the successful efforts method or the full‐cost method. Under successful
You have completed your audit of Carter Corporation and its consolidated subsidiaries for the year ended December 31, 2017, and are satisfied with the results of your examination. You have examined the financial statements of Carter for the past three years. The corporation is now preparing its

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Financial Accounting Theory and Analysis Text and Cases 12th edition Richard G. Schroeder, Myrtle W. Clark, Jack M. Cathey - Solutions

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