Brian Inc. estimates that it will need $150,000 in ten years to expand its manufacturing facilities. A bank has agreed to pay Brian 5% interest compounded annually if the company deposits the entire amount now needed to accumulate $150,000 in ten years. How much money does Brian need to deposit?
> In a common laboratory experiment in general chemistry, students are asked to determine the relative amounts of benzoic acid and charcoal in a solid mixture. Benzoic acid is relatively soluble in hot water, but charcoal is not. Devise a method for separa
> Describe how the process of filtration could be used to separate a mixture into its components. Give an example.
> Dalton’s original atomic theory proposed that all atoms of a given element are identical. Did this turn out to be true after further experimentation was carried out? Explain.
> Scientists J. J. Thomson and William Thomson (Lord Kelvin) made numerous contributions to our understanding of the atom’s structure. a. Which subatomic particle did J. J. Thomson discover, and what did this lead him to postulate about the nature of the
> Compare and contrast the ease with which molecules are able to move relative to each other in the three states of matter.
> For the pin shown in Fig. 2.5, why is the third figure determined for the length of the pin uncertain? Considering that the third figure is uncertain, explain why the length of the pin is indicated as 2.85 cm rather than, for example, 2.83 or 2.87 cm.
> In lab you report a measured volume of 158.6 mL of water. Using significant figures as a measure of the error, what range of answers does your reported volume imply? Choose the best answer and justify your choice. a. 100–200 mL b. 150–160 mL c. 158–15
> A given compound always contains the same relative masses of its constituent elements. How is this related to the relative numbers of each kind of atom present?
> Correct each of the following misstatements from Dalton’s atomic theory. a. Elements are made of tiny particles called molecules. b. All atoms of a given element are very similar. c. The atoms of a given element may be the same as those of another ele
> Several chemical elements have English names beginning with the letters B, N, P, or S. For each letter, list the English names for two elements whose names begin with that letter, and give the symbols for the elements you choose (the symbols do not neces
> The symbols for most elements are based on the first few letters of the respective element’s common English name. In some cases, however, the symbol seems to have nothing to do with the element’s common name. Give three examples of elements whose symbols
> Do the proton and the neutron have exactly the same mass? How do the masses of the proton and the neutron compare to the mass of the electron? Which particles make the greatest contribution to the mass of an atom? Which particles make the greatest contri
> Consider three 10-g samples of water: one as ice, one as liquid, and one as vapor. How do the volumes of these three samples compare with one another? How is this difference in volume related to the physical state involved?
> Classify each of the following as a physical or chemical change or property. a. A fireplace poker glows red when you heat it in the fire. b. A marshmallow turns black when toasted too long in a campfire. c. Hydrogen peroxide dental strips will make yo
> Classify each of the following as a physical or chemical change or property. a. Oven cleaners contain sodium hydroxide, which converts the grease/oil spatters inside the oven to water-soluble materials, which can be washed away. b. A rubber band stretc
> This section presents several ways our day-to-day lives have been enriched by chemistry. List three materials or processes involving chemistry that you feel have contributed to such an enrichment, and explain your choices.
> You want to cook some raw noodles to make a pasta dish for supper. So, you turn on the gas stovetop (which uses a flame), place a large pot of water over the flame, wait for the water to boil, place the noodles in the boiling water for 11 minutes, and th
> Write each of the following numbers as “ordinary” decimal numbers. a. 6.244 * 103 b. 9.117 * 10-2 c. 8.299 * 101 d. 1.771 * 10-4 e. 5.451 * 102 f. 2.934 * 10-5
> Write each of the following numbers in standard scientific notation. a. 1/0.00032 b. 103/10-3 c. 103/103 d. 1/55,000 e. (105)(104)(10-4)/(10-2) f. 43.2/(4.32 * 10-5) g. (4.32 * 10-5)/432 h. 1/(105)(10-6)
> The “Chemistry in Focus” segment Chemistry: An Important Component of Your Education discusses how studying chemistry can be beneficial not only in your chemistry courses but in your studies in general. What are some characteristics of a good student, an
> Students approaching the study of chemistry must learn certain basic facts (such as the names and symbols of the most common elements), but it is much more important that they learn to think critically and to go beyond the specific examples discussed in
> Why is the ability to solve problems important in the study of chemistry? Why is it that the method used to attack a problem is as important as the answer to the problem itself?
> Although reviewing your lecture notes and reading your textbook are important, why does the study of chemistry depend so much on problem solving? Can you learn to solve problems yourself just by looking at the solved examples in your textbook or study gu
> Discuss several political, social, or personal considerations that might affect a scientist’s evaluation of a theory. Give examples of how such external forces have influenced scientists in the past. Discuss methods by which such bias might be excluded f
> Write each of the following numbers in standard scientific notation. a. 97,820 b. 42.14 * 103 c. 0.08214 * 10-3 d. 0.0003914 e. 927.1 f. 4.781 * 102 * 10-3
> True or false? If a theory is disproven, then all of the observations that support that theory are also disproven. Explain.
> Although your textbook lists the rules for converting an ordinary number to scientific notation, oftentimes students remember such rules better if they put them into their own words. Pretend you are helping your 12-year-old niece with her math homework,
> From the following list, identify whether the change in the account balance during the year would be reported as an operating (O), an investing (I), or a financing (F) activity or not separately reported on the statement of cash flows (N). Assume that th
> Sound Company manufactures and sells high-quality stereos. The most popular line sells for $2,000 each and is accompanied by a three-year warranty to repair, free of charge, any defective unit. Average costs to repair each defective unit will be $180 for
> Trena Thompson invested $2,000 in a financial institution on January 1, 2017. She leaves her investment in the institution until December 31, 2021. How much money does Trena accumulate if she earns interest, compounded annually, at the following rates?
> The Stockholders’ Equity category of Rausch Company’s balance sheet as of December 31, 2017, appeared as follows: Preferred stock, $100 par, 8%, 2,000 shares issued and outstanding ……….. $ 200,000 Common stock, $10 par, 40,000 shares issued and outstand
> For each of the following transactions, indicate whether they would be reported in the Investing Activities section of the statement of cash flows (I) or the Financing Activities section (F). Put an S in the blank if the transaction does not affect cash
> Carnival Corporation & plc is one of the largest cruise companies in the world with such well-known brands as Carnival Cruise Lines, Holland America Line, and Princess Cruises. Classify each of the following items found on the companyâ€
> Metropolis Industries invested its excess cash in the following instruments during December 2017: Certificate of deposit, due January 31, 2018 …………………………………………. $ 35,000 Certificate of deposit, due June 30, 2018 ……………………………………………….. 95,000 Investment in
> Shari Thompson invested $1,000 in a financial institution on January 1, 2017. She leaves her investment in the institution until December 31, 2021. How much money does Shari accumulate if she earns interest, compounded annually, at the following rates?
> Several independent items are listed for which the outcome of events is unknown at year-end. a. A company offers a two-year warranty on sales of new computers. It believes that 4% of the computers will require repairs. b. A company is involved in a trad
> Several independent items are listed for which the outcome of events is unknown at year-end. a. A company has been sued by the federal government for price fixing. The company’s legal counsel believes that there will be an unfavorable verdict and has ma
> Use the following legend to indicate how each transaction would be reported on the statement of cash flows. (Assume that the company uses the direct method in the Operating Activities section.) IO = Inflow from operating activities 00 = Outflow fro
> The following situations involve the application of the time value of money concepts: 1. Sampson Company just purchased a piece of equipment with a value of $53,300. Sampson financed this purchase with a loan from the bank and must make annual loan payme
> Sports Central is a sporting goods store owned by Lewis, Jamal, and Lapin in partnership. On January 1, 2017, their capital balances were as follows: Lewis, Capital …………………………………………………………………………… $20,000 Jamal, Capital ……………………………………………………………………………… 50,0
> Terry Woods opened Par Golf as a sole proprietor by investing $50,000 cash on January 1, 2017. Because the business was new, it operated at a net loss of $10,000 for 2017. During the year, Terry withdrew $20,000 from the business for living expenses. Ter
> Use the following legend to indicate how each transaction would be reported on the statement of cash flows. (Assume that the stocks and bonds of other companies are classified as long-term investments.) II = Inflow from investing activities OI = Ou
> For each of the following transactions reported on a statement of cash flows, indicate whether it would appear in the Operating Activities section (O), in the Investing Activities section (I), or in the Financing Activities section (F). Put an S in the b
> Assume that a company uses the indirect method to prepare the Operating Activities section of the statement of cash flows. For each of the following items, indicate whether it would be added to net income (A), deducted from net income (D), or not reporte
> Kelly Seaver has decided to start saving for her daughter’s college education. Kelly wants to accumulate $32,000. The bank will pay interest at the rate of 4% compounded annually. If Kelly plans to make payments of $1,600 at the end of each year, how lon
> Steve Jones has decided to start saving for his son’s college education by depositing $2,000 at the end of every year for 15 years. A bank has agreed to pay interest at the rate of 4% compounded annually. How much will Steve have in the bank immediately
> On May 1, 2016, Ryde Inc. had common stock of $345,000, additional paid-in capital of $1,298,000, and retained earnings of $3,013,000. Ryde did not purchase or sell any common stock during the year. The company reported net income of $556,000 and declare
> Madden Corporation wants to determine the amount of deferred tax that should be reported on its 2017 financial statements. It has compiled a list of differences between the accounting conducted for tax purposes and the accounting used for financial repor
> Kern Company deposited $1,000 in the bank on January 1, 2017, earning 8% interest. Kern Company withdraws the deposit plus accumulated interest on January 1, 2019. Compute the amount of money Kern withdraws from the bank assuming that interest is compoun
> In the following list, identify each item as operating (O), investing (I), financing (F), or not separately reported on the statement of cash flows (N). For items identified as operating, indicate whether the related amount would be added to or deducted
> In the following list, identify each item as operating (O), investing (I), financing (F), or not separately reported on the statement of cash flows (N). _______ Proceeds from issuance of bonds payable _______ Interest expense _______ Redemption of bonds
> From the following list, identify whether the change in the account balance during the year would be reported as an operating (O), an investing (I), or a financing (F) activity or not separately reported on the statement of cash flows (N). Assume that th
> The following components are computed annually when a bond is issued for other than its face value: • Cash interest payment • Interest expense • Amortization of discount/premium • Carrying value of bond Required: State whether each component will increa
> Youngblood Inc. plans to issue $500,000 face value bonds with a stated interest rate of 8%. They will mature in ten years. Interest will be paid semiannually. At the date of issuance, assume that the market rate is (a) 8%, (b) 6%, and (c) 10%. Required:
> On January 1, 2017, Kunkel Corporation purchased an asset for $32,000. Assume that this is the only asset owned by the corporation. Kunkel has decided to use the straight-line method to depreciate it. For tax purposes, it will be depreciated over three y
> Assume that Garnett Corporation signs a lease agreement with Duncan Company to lease a piece of equipment and determines that the lease should be treated as a capital lease. Garnett records a leased asset in the amount of $53,400 and a lease obligation i
> On October 1, 2017, Ratkowski Inc. borrowed $18,000 from Second National Bank by issuing a 12-month note. The bank discounted the note at 9%. Required: 1. Identify and analyze the effect of the issuance of the note. 2. Identify and analyze the effect of
> On July 1, 2017, Jo’s Flower Shop borrowed $25,000 from the bank. Jo’s signed a ten-month, 8% promissory note for the entire amount. Jo’s uses a calendar year-end. Required: 1. Identify and analyze the effect of the issuance of the promissory note. 2. I
> Upon graduation from college, Susana Lopez signed an agreement to buy a used car. Her annual payments, which are due at the end of each year for two years, are $1,480. The car dealer used a 12% rate compounded annually to determine the amount of the paym
> Each of the following situations involves the use of discounts: 1. How much discount may Seals Inc. take in each of the following transactions? What was the annualized interest rate? a. Seals purchases inventory costing $450, terms 2/10, n/40. b. Seals p
> Several accounts that appeared on Kruse’s 2017 balance sheet are as follows: Required: 1. Prepare the Current Liabilities section of Kruse’s 2017 balance sheet. 2. Compute Kruse’s working capital. 3
> The following situations require the application of the time value of money: 1. On January 1, 2017, $16,000 is deposited. Assuming an 8% interest rate, calculate the amount accumulated on January 1, 2022, if interest is compounded (a) annually, (b) semia
> The following situations involve time value of money calculations: 1. A deposit of $7,000 is made on January 1, 2017. The deposit will earn interest at a rate of 8%. How much will be accumulated on January 1, 2022, assuming that interest is compounded (a
> A portion of the Financing Activities section of PepsiCo’s statement of cash flows for the year ended December 27, 2014, follows (in millions): 2014 Financing Activities Proceeds from issuances of long-term debt ……………………..………………. $ 3,855 Payments of lon
> Polly’s Cards & Gifts Shop had the following transactions during the year: a. Polly’s purchased inventory on account from a supplier for $8,000. Assume that Polly’s uses a periodic inventory system. b. On May 1, land was purchased for $44,500. A 20% dow
> Jackie Company had the following accounts and balances on December 31, 2017: Required: Prepare the Current Liabilities section of Jackie Company’s balance sheet as of December 31, 2017. Income Taxes Payable $61,250 Notes Payable,
> For each of the following notes, calculate the simple interest due at the end of the term. Now assume that the interest on the notes is compounded annually. Calculate the amount of interest due at the end of the term for each note. Finally, assume that
> Clean Corporation manufactures and sells dishwashers. Clean provides all customers with a two year warranty guaranteeing to repair, free of charge, any defects reported during this time period. During the year, it sold 100,000 dishwashers for $325 each.
> The following items represent liabilities on a firm’s balance sheet: a. An amount of money owed to a supplier based on the terms 2/20, n/40, for which no note was executed. b. An amount of money owed to a creditor on a note due April 30, 2018. c. An amo
> The following items are accounts on Smith’s balance sheet of December 31, 2017: Taxes Payable Accounts Receivable Notes Payable, 9%, due in 90 days Investment in Bonds Capital Stock Accounts Payable Estimated Warranty Payable in 2018 Retained Earnings T
> For each of the following intangible assets, indicate the amount of amortization expense that should be recorded for the year 2017 and the amount of accumulated amortization on the balance sheet as of December 31, 2017. Trademark Patent Copyright Co
> Refer to Exercise 8-6. Assume that Gonzalez Company sold the asset on July 1, 2017, and received $15,000 cash and a note for an additional $15,000. Exercise 8-6: Assume that Gonzalez Company purchased an asset on January 1, 2015, for $60,000. The asset
> Assume that Gonzalez Company purchased an asset on January 1, 2015, for $60,000. The asset had an estimated life of six years and an estimated residual value of $6,000. The company used the straight-line method to depreciate the asset. On July 1, 2017, t
> The following information is available from the balance sheets at the ends of the two most recent years and the income statement for the most recent year of Impact Company: 2017 Sales revenue ……â€&brvb
> Refer to the financial information at the back of the book for Panera Bread and Chipotle. Financial information Panera Bread: Financial information Chipotle Required: Part A. The Ratio Analysis Model For each company, determine: The debt-to-equity r
> The following information was obtained from the comparative financial statements included in Nordstrom’s Form 10-K for its 2015 fiscal year. (All amounts are in millions of dollars.) Required: 1. Using the information provided, compu
> The following information was summarized from the balance sheets included in Form 10-K of McDonald’s Corporation at December 31, 2015, and The Wendy’s Company and Subsidiaries at January 3, 2016. Required: 1. Using t
> The following information was summarized from the balance sheets included in the Form 10-K for the 2015 fiscal year of Kellogg Company and Subsidiaries at January 2, 2016, and General Mills, Inc. and Subsidiaries at May 31, 2015: Required: 1. Using th
> The following information was obtained from the fiscal year 2015 and 2014 financial statements included in Form 10-K of Kellogg Company and Subsidiaries and General Mills, Inc. and Subsidiaries. (Year-ends for Kellogg’s are January 2, 2
> The following account balances are taken from the records of Lewis Inc., a wholesaler of fresh fruits and vegetables: Required: 1. Compute Lewis’s inventory turnover ratio for 2017 and 2016. 2. Compute the number of daysâ€&
> Adair Corp. is concerned because the average time to collect its accounts receivable was 15 days longer than its normal credit terms of net 30. Adair reported the following in the Current Assets section of its comparative balance sheets: Assuming 360 d
> The following account balances are taken from the records of the Faraway Travel Agency: Faraway extends credit terms requiring full payment in 60 days, with no discount for early payment. Required: 1. Compute Faraway’s accounts recei
> The Stockholders’ Equity section of the balance sheet for Cooperstown Corp. at the end of 2017 appears as follows: 8%, $100 par, cumulative preferred stock, 200,000 shares authorized, 50,000 shares issued and outstanding ………………………… $ 5,000,000 Additiona
> A company’s return on assets is a function of its ability to turn over its investment (asset turnover) and earn a profit on each dollar of sales (return on sales). For each of the following independent cases, determine the missing amounts. (Note: Assume
> The following selected data are taken from the financial statements of Evergreen Company: Sales revenue ………………………………………………………………. $ 650,000 Cost of goods sold ……………………………………………………………. 400,000 Gross profit ……………………………………………………………………. $ 250,000 Selling an
> Refer to the Panera Bread’s financial statements at the end of the text and answer the following questions: Panera Bread’s financial statements: 1. What are the items listed as long-term liabilities by Panera Bread?
> Rogers Inc. had 500,000 shares of $2 par common stock outstanding at the end of both 2016 and 2017. Retained earnings at the end of 2016 amounted to $1,800,000. No dividends were paid during 2017, and net income for the year was $400,000. Determine Roger
> Murphy Company’s total liabilities on December 31, 2017, amounted to $1,500,000. The debt to equity ratio on this date was 1.5 to 1. Net income for 2017 was $250,000, and the profit margin was 5%. Required: 1. Determine Murphy’s net sales for 2017. 2. D
> For the year ended September 26, 2015, Apple, Inc., reported net income of $53,394 million. Total shareholders’ equity on this date was $119,355 million, and on September 27, 2014, it was $111,547 million. No preferred stock was outstanding in either yea
> Madison Corp. reported the following in the Current Assets section of its comparative balance sheets: Supplemental information at the bottom of Madison’s 2017 statement of cash flows was as follows: Madison’s 2017
> Cass Corp.’s December 31, 2016, balance sheet reported current assets of $120,000 and current liabilities of $100,000. The current ratio increased by 25% one year later, on December 31, 2017. Current liabilities on this date were $140,000. Determine curr
> Wolf’s comparative balance sheets included inventory of $45,000 at December 31, 2016, and $63,000 at December 31, 2017. The comparative balance sheets also included accounts payable of $33,000 at December 31, 2016, and $39,000 at December 31, 2017. Wolf’
> Butler Corp. reported the following in the Current Assets section of its comparative balance sheets: The company uses the direct method on its statement of cash flows and reported that it collected $45,200 during 2017 from its customers. Determine sale
> Stanley Company’s comparative balance sheets included accounts receivable of $80,800 at December 31, 2016, and $101,100 at December 31, 2017. Sales reported by Stanley on its 2017 income statement amounted to $1,450,000. What is the amount of cash collec
> Spencer Corp. reported accounts receivable of $28,000 on its December 31, 2016, balance sheet. On December 31, 2017, accounts receivable had decreased to $22,000. Sales for the year amounted to $55,000. What is the amount of cash collections that Spencer
> Redstone Inc. has the following debt outstanding on December 31, 2017: On this date, Redstone retired the entire bond issue by paying cash of $510,000. Required: 1. Identify and analyze the transaction to record the bond retirement. 2. Describe how th
> Following is the current assets and current liabilities portion of the balance sheet of Keurig Green Mountain for the years ended September 26, 2015 and September 27, 2014: Required: Determine the company’s current ratio for each fis
> On its most recent statement of cash flows, a company reported net cash provided by operating activities of $12,000,000. Its capital expenditures for the same year were $2,000,000. A note to the financial statements indicated that the total amount of deb
> The following account balances for the noncash current assets and current liabilities of Suffolk Company are available: Net income for 2017 is $40,000. Depreciation expense is $20,000. Assume that all sales and all purchases are on account. Required:
> Timber Corp. began the year with a balance in its Income Taxes Payable account of $10,000. The year-end balance in the account was $15,000. The company uses the indirect method in the Operating Activities section of the statement of cash flows. Therefore
