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public class Test2 { public static int x; public static int foo(int y) { return y * 2; } public static void main(String [] args) { int z = 5; assert z > 0; /* Line 11 */ assert z > 2: foo(z); /* Line 12 */ if ( z < 7 ) assert z > 4; /* Line ...
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The balance sheet for the year ended December 31, 2011 for Wilden Corporation was as follows: December 31, 2011 December 31, 2010 Assets $325,000 $260,000 Liabilities $180,000 $150,000 Equity $145,000 $110,000 The company's net income for 2011 was $40,000. The company paid a dividend of $13,000 during 2011. During ...
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Hunt Company purchased a large quantity of merchandise on June 10 at a purchase price of $20,000 and credit terms of 1/10, n/45. What is the impact on cash flows from operating activities in the indirect method section if the goods were used to satisfy a customer order on June 15? a. Increase of $20,000 b. Increase o...
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Given the following net income projections, what is the average accounting return for the Nifty Fifty considering opening a new store at a start-up cost of $628,000, which will be depreciated straight-line to zero over the 15-year life of the project? Years Net Income 1-5 $58...
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Determine the mode of the following time series. 2016 2017 2018 2019 2020 Property A 6 4 5 2 4 5 Property B 4 7 5 3 6 5 Property C 3 4 4 2 4 5 Property D 2...
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Mystical Manufacturing has four processes: material receipt and storage, process A, process B, and process C. Material is received from suppliers and stored in the raw materials storeroom. From the raw materials storeroom, material moves to process A, where it is fabricated into a component. The component is then tra...
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Which of the following is not a property of the binomial distribution? A. The probability of the outcome for any trial is the same B. The probability that the outcome is the same in any two trials is the same C. Each trial has only two possible outcomes: a "success" or a "failure" D. The distribution is specified b...
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I keep seeing a lot of examples where the fact that inventory is accounted for at cost is not considered an assumption, despite the fact that it could affect the valuation of the other components of operating cash flow. Inventory for a business that markets jewelry is valued at the higher of market value or cost. Inve...
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TheraCell, Inc., owns 90% of the common stock of AccuBurn Corporation. On December 31, 20X0, AccuBurn sold land to TheraCell for $185,000, which had a book value of $125,000. AccuBurn reported net income of $145,000 for the year ended December 31, 20X1. What amount of income will be assigned to the noncontrolling inte...
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Company had the following data: Cost standards for one unit of the product no. C77: Direct materials 4 pounds at $6 per pound $24 Direct labor 6 hours at $8 per hour $48 Actual results: Units produced 5,500 units $0 Direct material...
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At December 31, 2016, the balance in Prepaid Rent was $540,000, and the rent expense for 2017 was $260,000. What is the amount of cash paid for rent during 2017 if the December 31, 2017, balance of Prepaid Rent was $50,000? a. $220,000 b. $260,000 c. $300,000 d. $320,000
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BoSun Manufacturing uses a job-order costing system. During the last period, direct labor costs totaled $150,000 based on $50 per hour, and actual overhead costs for the period totaled $212,000. The inventory value of the completed product transferred out of the Finished Goods Inventory was $432,000. If the predetermin...
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Kingston Technology purchased some equipment 2 years ago at a cost of $17,820. The assets are classified as 5-year property for MACRS purposes. The company is replacing this equipment today with newer machines that utilize the latest in technology. The old machines are being sold for $3,560 to a foreign firm for use in...
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Calculate the price elasticity of demand for Good X if the price of Good Y increases by 40% and the quantity demanded of Good X increases by 20%. A. 0.5 B. 1 C. 2 D. 4 E. 8
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Valdez-Arneson Co. sold 500 shares of stock in a private placement. The stock has a par value of $1 per share. Valdez-Arneson received $35 per share. The stock has a fair market value of $45 per share. The entry to record the sale would include: a) a debit to Common Stock for $45,000 b) a debit to Additional Paid-in ...
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In a perfectly competitive labour market, if all other factors remain unchanged and the demand for the final product increases, then: a) the demand for labour will increase and the natural rate of unemployment will decrease b) the demand for labour will increase and the natural rate of unemployment will increase c) ...
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With {eq}n=18 \ \ and \ \ \bar X = 87.2, {/eq} what is the margin of error at the {eq}95\% {/eq} confidence level, given that the population standard deviation {eq}\sigma = 6.9 {/eq}?
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Find the flux of {eq}\mathbf F = \left \langle \cos y, \sin y, 1 \right \rangle {/eq} upward across the surface {eq}z = y^2 \: for \: 0 \leq x \leq 1, \: 0 \leq y \leq 2 {/eq}.
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A computer was purchased for \$2,400 and will be depreciated using MACRS over a period of six years. If the computer had a 4-year life, what is the book value at the end of the fourth year?
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Suppose the government borrows {eq}\$30 {/eq} million this year and repays it next year. What is the debt ratio in the current year and the debt ratio in the next year?
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What is the maximal increase of deposits in the banking system, if the banking authorities require that the ratio of reserves to transaction account deposits is 10%, and that a customer withdraws $5 million in cash from his transaction account? a. $45 million b. $50 million c. $5 million d. $40 million
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Goofy Inc. bought 15,000 shares of Crazy Co.'s stock for $206,000 on May 5, 2011, and classified the stock as available for sale. The market value of the stock declined to $118,000 by December 31, 2011. Goofy reclassified this investment as trading securities in December of 2012 when the market value had risen to $162,...
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Alton Corporation had the following sales and production for the past four years: Year 1Year 2Year 3Year 4 Production in units7,0009,00011,00011,000 Sales in units5,0006,0009,00012,000 Each year, there were no beginning inventories of any kind; in other words, all direct materials and direct labor were for current p...
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Find the cost function for the marginal cost function {eq}\, C'(x) = x^{\frac{2}{3}} + 3 {/eq} if fixed cost is 5.
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A company produces a single product. Variable production costs are $12.50 per unit and variable selling and administrative expenses are $4.50 per unit. Fixed manufacturing overhead totals $51,000, and fixed and administrative expenses total $55,000. Assuming a beginning inventory of zero, production of 5,000 units, and...
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Find the volume V of the solid E that lies above the cone z = \sqrt{x^2 + y^2} and below the sphere x^2 + y^2 + z^2 = 1. Use cylindrical or spherical coordinates, whichever seems more appropriate. V = \int_{0}^{\pi}\int_{?}^{\pi/4}\int_{0}^{?} p^2 \sin(\phi) dp d\phi d\theta Determine the limits of integration for p ...
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In an adiabatic steady flow process, the work done per unit mass of working substance is given by a) {eq}h_{1} + \frac {1}{2} V_{1}^{2} {/eq} b) {eq}h_{1} - h_{2} - \frac {1}{2} V_{2}^{2} {/eq} c) {eq}h_{1} - h_{2} - \frac {1}{2} (V_{1}^{2} - V_{2}^{2}) {/eq} d) {eq}h_{2} - h_{1} + \frac {1}{2} (V_{1}^{2} - V_{2...
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A company makes and sells computers. Their fixed costs are $150,000 per year. Their variable cost per computer is $1000. What is their break-even point in revenue? Select one: a. 150 computers b. $150,000 c. $250,000 d. $50,000 e. $350,000
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Keenan Co. is expected to maintain a constant 5 percent growth rate in its dividends indefinitely. If the required return on Keenan Co. stock is 12 percent and the company just paid a dividend of $2.70, what is the current stock price?
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On December 1, a company issued for $1,030,000, 10%, 10-year bonds. The bonds were issued through an underwriter for $1,000,000. The underwriting spread is reported as a: a. debit to Organization Expenses. b. credit to Unearned Revenue. c. credit to Loss on Bond Issue. d. debit to Gain on Bond Issue.
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Use the following information to answer this question. Sales $150,000 Variable manufacturing costs 67,500 Fixed manufacturing costs 37,500 Variable selling and administrative costs 22,500 Fixed selling and administrative costs 12,000 ...
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A company's 6% coupon rate, semiannual payment, $1000 par value bond that matures in 30 years sells at a price of $515.16. The company's federal-plus-state tax rate is 40%. What is the firm's after-tax component cost of debt for purposes of evaluating the WACC?
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The following data (in millions) have been taken from the financial statements of Larden Corporation for the fiscal years ending December 31, 2017 and 2016: 20172016 Inventory$132$120 Property, plant and equipment, net$335$270 Total assets$420$350 Accrued liabilities$63$54 Long-term debt$162$176 Common stock$75$75 R...
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A narrow beam of white light is incident at an angle of 35.0{eq}^\circ {/eq} to the surface of a sheet of crown glass with index of refraction 1.52. Find the angular separation of the red light (at 660 nm) and the blue light (at 470 nm) in the refracted light.
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James Corporation sold a machine for $190,000. The machine had a cost of $220,000 and accumulated depreciation of $170,000. The machine was not traded in for a new machine. What is the effect on the accounts of this transaction? A) Increase cash $190,000; decrease machine $220,000; increase loss on sale $30,000 B) In...
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U.S. Airways managers may _____ their budgeted costs or _____ their budgeted revenue to create a budget target that is easier to achieve. a) overstate; overstate b) understate; understate c) overstate; understate d) understate; overstate
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Wilson Wonders bonds have 12 years remaining to maturity. Interest is paid annually; the bonds have a $1,000 par value and the coupon interest rate is 10%. The bonds have a yield to maturity of 8%. What is the current market price of these bonds?
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Carter, Inc. provides the following information for 2010: Beginning Balance Ending Balance Accounts Receivable $167,000 $182,000 Inventory 109,000 120,000 Accounts Payable 81,500 71,500 The income before income taxes was $321,000. The following question pertains to information for the calculation of cash flows from o...
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Commonwealth Construction (CC) needs $3.2 million of assets to get started, and it expects to have a basic earning power ratio of 21%. CC will own no securities, so all of its income will be operating income. If it so chooses, CC can finance up to 50% of its assets with debt, which will have an 8% interest rate. If it ...
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A company planned to produce 3,000 units of its single product, Titactium, during November. The company uses a standard cost system and has established the following standards for one unit of Titactium: Direct material 6 pounds at $2.20 per pound Direct labor 1.6 hours at $7.10...
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Recognition by Components (RBC) theory would predict that an object in an unfamiliar orientation will be recognized _____ than it would be in a familiar orientation. What would template theory predict? a. RBC: slower; Template: slower b. RBC: faster; Template: slower c. RBC: at the same speed; Template: slower d. R...
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JXJ Corporation was incorporated on January 1, 1995. The corporation made its S election on April 1, 1998. The corporation retains an E&P balance from its C corporation days. Which one of the following current year income and expense items is not included in JXJ Corporation's Accumulated Adjustments Account? a. Long-t...
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In a poll, {eq}p=0.75 {/eq}, and {eq}n=20 {/eq}. What is the probability that {eq}\hat p {/eq} will be between 0.50 and 0.85?
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Black flies on the Great Lakes are notoriously difficult to get rid of. The mean number of larvae per square meter of water is 500, and the distribution is approximately Poisson. Last year a company that makes black fly control agents purchased a new larger tract of land that had not been developed yet for use as a nat...
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The following errors were discovered on the books of Fidelity Corporation for 2016: Customer's check returned NSF: The check, returned by the bank, was written for $100. Fidelity had recorded the return as a debit to accounts receivable and a credit to cash. Change in estimate: The company used FIFO in valuing its in...
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The cost of goods manufactured is $30,000 and the cost of goods sold is $33,000. What is the inventory holding period ratio if the average inventory is $6,000?
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Two lines intersect, and the angle of intersection is $45^o$. The first line has a slope of $a$, and the second line has a slope of $b$. Find $\frac{a+b}{1+ab}$.
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Kingsolver Inc. is investigating the need to replace a combined water filtration pump and motor set (defender) with a more efficient running one (challenger). The market price for the existing pump is $25,000.00. Its remaining useful life is 3 years where its salvage value is $5,000.00. The O&M costs are $3,000 per yea...
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Klein, Inc. acquired an apartment building in 1975 for $175,000 and sold it for $400,000 in 2011. At the time of the sale, there was $35,000 of accumulated straight-line depreciation on the apartment building. What is the amount and character of the gain Klein will recognize on the sale? a. {eq}\$225,000 {/eq} of ord...
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C Corp. currently uses a periodic inventory system with an average cost approach to assign cost to ending inventory. Last year, C Corp. reported the following information about its inventory and cost of goods sold: Beginning inventory: cost of $30,000 and selling price of $50,000 Net purchases: cost of $125,000 and s...
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In the reaction 2NO (g) {eq}\rightleftharpoons {/eq} N2 (g) + O2 (g), what is the equilibrium concentration of NO if the initial concentration of NO is 0.025 M and Kc = 0.080 for this reaction? a. 1.68 x 10{eq}^{-2} {/eq} M b. 0.016 M c. 0.025 M d. 0.086 M e. 1.14 M
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Let $G=(V,E)$ be a graph with $|V|=n$ vertices and $|E|=2n+1$ edges. How can I show that $G$ is connected?
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Winchester Corp.'s revenue per month from sales is $10 million and doesn't change from month to month, no matter what the price of its output is. What is the price elasticity of demand for Winchester's output?
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A long straight wire carries a current of 50.0 A. An electron, traveling at {eq}1.0\times 10^7\ m/s {/eq} is 5.0 cm from the wire. what force(magnitude and direction) acts on the electron's velocity, is directed toward the wire? a) {eq}7.5 x 10^{-16}{/eq} N parallel to the current b) {eq}8.4 x 10^{-16}{/eq} N para...
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Data from the accounting records of Sella Company for the year ended December 31, 2016, are presented in the following table. All beginning inventory amounts equaled 2016 production levels. Direct materials used $240,000 Direct labor incurred $330,000 Variable manufacturing overhead $108,000 Fixed manufacturin...
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Given the following information: Revenue = $57,000; Explicit costs = $25,000; Implicit costs = $15,000; Interest paid = $4,000; Implicit revenue = $6,000. Explicit revenue is: A. $10,000 B. $61,000 C. $57,000 D. $37,000
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Which of the following is not a relevant cost in a make-or-buy decision? A. Variable manufacturing overhead B. Direct materials C. Direct labor D. Depreciation on factory equipment
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Benton Corporation has 250,000 of current assets, $800,000 of net working capital, and $1,650,000 of total assets. Benton's current ratio is: A. 2.40. B. 1.71. C. 1.50. D. 0.57.
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A piece of land is purchased for $50,000 and is expected to produce net annual income of $15,000 for the next five years. An investment of $40,000 in the land is expected to increase the annual net income to $20,000. A discount rate of 10% is required. Net present value analysis indicates that the investment is _____ ,...
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Solve the following O.D.E. using Laplace transform. y'' + 4y = t; y(0) = y'(0) = 0
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Suppose the income elasticity of demand is 2.5. If there is a 20 percent increase in income, how much will the demand change? A. 5 percent increase. B. 80 percent increase. C. 25 percent increase. D. 50 percent increase.
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The March 31, 2016, balance sheet of Schism, Inc., showed $147,500 in the common stock account and $2,690,000 in the additional paid-in capital account. The April 30, 2017, balance sheet showed $154,300 in the common stock account and $3,020,000 in the additional paid-in capital account. What was the total cash receive...
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A firm buys on terms of {eq}3/18, net 50 {/eq} and does not take advantage of the trade discount. What is the firm's approximate cost of trade credit if it pays in 55 days? a) 23.54% b) 27.38% c) 41.55% d) 29.84% e) None of these
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A treasury manager is in the process of developing cash transfer rules for the firm. Currently, the firm's bank charges $15 per wire and $0.30 per ACH. The ACH takes 1 day longer to clear. The firm's account earns an earnings credit rate of 0.50%, and the required reserve ratio is 10%. If the firm's opportunity cost of...
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Which of the following statements is true? a. An increase in the price of a normal good leads to an increase in the quantity demanded of the good. b. An increase in income always leads to a decrease in the demand for a good. c. An increase in the price of a good leads to a decrease in the quantity demanded of the go...
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Calculate the present value of $50,000 to be received in 10 years at a 10% discount rate.
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At the December 31, 2015, balance sheet date, Fallstraw Corporation reports an accrued receivable for financial reporting purposes but not for tax purposes. When this asset is recovered in 2016, a future taxable amount will occur and: a) pretax financial income will exceed taxable income in 2016. b) Fallstraw will re...
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Which of the following describes the term "margin" in relation to a stock's price? a. The percentage of a stock's price that is not paid for. b. The difference between a stock's price and its cost. c. The percentage of a stock's price that is paid for. d. The difference between a stock's price and the price at whic...
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In the aggregate supply (AS) relation, {eq}P = P^e (1+m)F(1-\frac{Y}{L},z) {/eq} a. expected price level. b. fiscal policy. c. monetary policy. d. all of the above
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Show that the amount of work required to assemble four identical point charges of magnitude {eq}Q {/eq} at the corner of a square of edge length {eq}s {/eq} is {eq}5.41\frac{kQ^2}{s} {/eq}.
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Kingston Manufacturing Company makes a single product and uses a standard costing system that applies overhead on the basis of direct labor hours (DLHr). The company based its predetermined overhead rate for the current year on 18,000 hours, a total fixed manufacturing overhead cost of $405,000, and a variable overhead...
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A person has just been hired as a financial manager for an insurance company that has a large block of annuity liabilities. Its assets are primarily high-grade government bonds. The person has a concern that the interest rate will rise over the next year, which would cause the value of the assets to fall and the value ...
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Gutierrez Company reported net income of $203,850 for 2014. Gutierrez also reported depreciation expense of $56,350 and a gain of $4,850 on the disposal of equipment. The comparative balance sheet shows a decrease in accounts receivable of $15,100 for the year, a $15,520 increase in accounts payable, and a $3,120 incre...
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Find {eq}\displaystyle \lim_{x \rightarrow 1} \frac{x^{4} - 1}{x - 1}{/eq} algebraically, if it exists.
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Evaluate the integral: {eq}\int_{-\infty}^{\infty}\left (e^{-ax}-e^{-bx} \right )sin\left ( \frac{\pi x}{3} \right )\delta \left ( 4x^2-1 \right )\,dx {/eq}
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Which of the following statements is true? a) Overhead can be applied slowly as a job is worked on. b) Overhead can be applied when the job is completed. c) Overhead should be applied to any job not completed at year-end in order to properly value the work in process inventory.
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Is $\frac{2n}{3n^2+1} \leqslant \frac{2n}{3n^2} = \frac{2}{3n} \leqslant \frac{1}{n}$ a correct method to show that $\lim\limits_{n \to \infty} \frac{2n}{3n^2+1} = 0$?
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Suppose that a monopolist faces the following demand curve: P= 200-3Q. What is the marginal revenue of the 15th unit?
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Cash flow for Project B is: year 1= -$15000, year 2= $5000, year 3= $5000, year 4= $6000, year 5= $7000. Compute MIRR using a discount rate of 10% and reinvestment rate of 8%.
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What is the acid-test ratio, given sales of $800,000 and average operating costs of $550,000, long-term debt of $300,000, current liabilities (excluding debt) of $100,000, and current assets (excluding debt) of $80,000?
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Use the divergence theorem to calculate the flux of the vector field {eq}\vec{F}(x, y, z) = x^4\mathbf{i}+(5y-4x^3y)\mathbf{j}+3z\mathbf{k} {/eq} through the sphere {eq}S {/eq} of radius {eq}5 {/eq} centered at the origin, oriented with outward-pointing normal.
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If $f: \mathbb{R}\to\mathbb{R}$ such that $f(x)f(y)=f(x+y)$ and $f(1)=1/2$ Then find $f(1/2)$.
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A perfectly competitive market is in long-run equilibrium. Suppose that there is a technological breakthrough in this market that makes the production of the market output more efficient. Which of the following scenarios could potentially happen in the short run as a result of the technological breakthrough? A. The p...
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If the assumption is that both Miami and LaCross are functioning efficiently even if Miami's expenditures are higher at a given health level, then graphically a. their Health production functions (HPF) are the same b. HPF of Miami is higher than HPF of LaCross c. HPF of Miami is lower than HPF of LaCross d. we stil...
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The current interest rate is 10%. The spot rate for euros is .50, and the forward rate for a year is .46. Suppose the euro is expected to depreciate further over the next year. There is an arbitrage opportunity if the interest rate in Germany is: a. 6%. b. 9%. c. 10%. d. 12%.
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Rent Land's inc is a cash basis taxpayer. It leased property to Zellars inc. during 2013 and collected a year's lease payment of $150,000 in advance. Land's income tax expense for 2013 was $500,000, and its tax rate was 40%. At the end of 2014, before any adjustments, Land's income tax liability was $600,000. Assuming ...
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What is the slope of the tangent line of #(x-y^2)/(xy+1)= C #, where C is an arbitrary constant, at #(1,2)#?
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A certain spring is found not to conform to Hooke's law. The force (in Newtons) it exerts when stretched a distance x (in meters) is found to have a magnitude of 53.4x + 39.4x^2 in the direction opposing the stretch. With one end of the spring fixed, a particle of mass 1.61 kg is attached to the other end of the spring...
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What is the probability of earning between 9% and 10% for a portfolio with an expected return of 12% and a standard deviation of 12%?
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Fiam Industries projects the following revenues from their competitor's possible strategies choices: Competitor's StrategyProbability of Competitor's StrategyRevenue ($ million) Expand production0.271,664.7 Decrease production0.372,620.7 Fiam projects a revenue of $2,181 million if their competitor's production is un...
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A study for the City of Springfield, Illinois, shows the relation between the number of police officers and the number of crimes solved. Police Officers Crimes Solved 10 550 15 600 20 740 25 720 30 860 35 ...
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On December 31, 2014, Harris Co. leased a machine from Catt, Inc. for a five-year period. Equal annual payments under the lease are $1,050,000 (including $50,000 annual executory costs) and are due on December 31 of each year. The first payment was made on December 31, 2014, and the second payment was made on December ...
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North Pole Amusement Park is considering a capital investment in a new theme ride. The initial outlay required is $2,814,000 and the project is expected to generate annual cash flows of $517,800, $528,000, $513,600, and $436,000 over the next four years, respectively. The project's WACC is 10%. What is the MIRR for th...
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Suppose f (x) is an odd function and {eq}\int_{-2}^0f(x)dx=-3, \int_{0}^2f(x)dx = 4, and \int_2^6 f(x)dx = 8. Either find {eq}\int_{-6}^{-2}f(x)dx{/eq}, or show that there is not enough information to find {eq}\int_{-6}^{-2}f(x)dx{/eq}.
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Suppose that on January 1, you put money into an account that earns an annual interest rate of 10%. On December 31 of the same year, you take out the money and invest it in a new account that earns an annual interest rate of 5%. On December 31 of this second year, how much will you have if the interest is compounded mo...
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By the elevator at our math department it is written 'max 1125 kg or 15 persons'. Assume the mean weight of a student is 74 kg. Assume the probability that the total weight of 15 students exceeds 1125 kg is 5%. What is then the standard deviation of the weight of a student?
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M & M. Corporation has the following inventory data: September 1: Beginning inventory of 20 units at $10 September 7: Purchase of 70 units at $12 September 19: Sale of 25 units at $30 September 22: Purchase of 10 units at $14 September 29: Sale of 40 units at $50 A physical count of inventory on September 30 reve...
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Use the Divergence Theorem to evaluate the {eq}fS (9 x + 8 y + z^2)dS{/eq}, where S is the sphere {eq}x^2 + y^2 + z^2 = 1{/eq}.
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Barron company acquired 80% of Taylor company for $584,000 on January 1, 2014. Taylor reported common stock of $240,000 and retained earnings of $280,000 on that date. Equipment was overvalued by $28,000 and buildings were undervalued by $32,000. Each having a 10 year remaining life. Any excess consideration transferre...
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Jarvis Traders has an annual interest expense of $150,000 and a net profit of $1.80 million. The company is in the 30% tax bracket. What is the interest tax shield? a. $45,000 b. $105,000 c. $150,000 d. $180,000
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