Question: Select the correct answer for each of

> Pam Corporation holds 70 percent ownership of Spray Enterprises. On December 31, 20X6, Spray paid Pam $40,000 for a truck that Pam had purchased for $45,000 on January 1, 20X2. The truck was considered to have a 15-year life from January 1, 20X2, and no

> On January 1, 20X5, Potter Corporation started using a wholly owned subsidiary to deliver all its sales overnight to its customers. During 20X5, Potter recorded delivery service expense of $76,000 and made payments of $58,000 to the subsidiary. Required

> Paragraph Corporation purchased land on January 1, 20X1, for $20,000. On June 10, 20X4, it sold the land to its subsidiary, Sentence Corporation, for $30,000. Paragraph owns 60 percent of Sentence’s voting shares. Required: a. Give the worksheet consoli

> Passenger Products purchased 65 percent of Seat Sales Company’s stock at underlying book value on January 1, 20X3. At that date, the fair value of the non controlling interest was equal to 35 percent of the book value of Seat Sales. Seat Sales reported s

> Plastic Corporation purchased management consulting services from its 75 percent-owned subsidiary, Spoon Inc. During 20X3, Plastic paid Spoon $123,200 for its services. For the year 20X4, Spoon billed Plastic $138,700 for such services and collected all

> Assume the same facts as in E8-7 but prepare entries using straight-line amortization of bond discount or premium. Data from E8-7: Suspect Company issued $600,000 of 9 percent first mortgage bonds on January 1, 20X1, at 103. The bonds mature in 20 year

> Passport Manufacturing purchased an ultrasound drilling machine with a remaining 10-year economic life from a 70 percent-owned subsidiary for $360,000 on January 1, 20X6. Both companies use straight-line depreciation. The subsidiary recorded the followin

> Select the correct answer for each of the following questions. 1. Upper Company holds 60 percent of Lower Company’s voting shares. During the preparation of consolidated financial statements for 20X5, the following consolidation entry w

> Plumber Corporation owns 60 percent of Socket Corporation’s voting common stock. On December 31, 20X4, Plumber paid Socket $276,000 for dump trucks Socket had purchased on January 1, 20X2. Both companies use straight-line depreciation.

> Pocket Corporation holds 70 percent of Strap Company’s voting common stock. On January 1, 20X2, Strap paid $300,000 to acquire a building with a 15-year expected economic life. Strap uses straight-line depreciation for all depreciable assets. On December

> Parent Company holds 90 percent of Surrogate Company’s voting common shares. On December 31, 20X8, Parent recorded a loss of $16,000 on the sale of equipment to Surrogate. At the time of the sale, the equipment’s estimated remaining economic life was eig

> Pea Company purchased 70 percent of Split Company’s stock approximately 20 years ago. On December 31, 20X8, Pea purchased a building from Split for $300,000. Split had purchased the building on January 1, 20X1, at a cost of $400,000 and used straight-lin

> Post Delivery Service acquired at book value 80 percent of the voting shares of Script Real Estate Company. On that date, the fair value of the non controlling interest was equal to 20 percent of Script’s book value. Script Real Estate reported common st

> Progeny Corporation owns 75 percent of Spawn Corporation’s voting common stock. Progeny reported income from its separate operations of $90,000 and $110,000 in 20X4 and 20X5, respectively. Spawn reported net income of $60,000 and $40,000 in 20X4 and 20X5

> Playoff Corporation holds 90 percent ownership of Series Company. On July 1, 20X3, Playoff sold equipment that it had purchased for $30,000 on January 1, 20X1, to Series for $28,000. The equipment’s original six-year estimated total economic life remains

> Photo Industries has owned 80 percent of Shutter Corporation for many years. On January 1, 20X6, Photo paid Shutter $270,000 to acquire equipment that Shutter had purchased on January 1, 20X3, for $300,000. The equipment is expected to have no scrap valu

> Pester Company transferred the following assets to a newly created subsidiary, Shumby Corporation, in exchange for 40,000 shares of its $3 par value stock Required: a. Give the journal entry in which Pester recorded the transfer of assets to Shumby Cor

> On January 1, 20X7, Pillow Corporation sold to Sheet Corporation equipment it had purchased for $150,000 and used for eight years. Pillow recorded a gain of $14,000 on the sale. The equipment has a total useful life of 15 years and is depreciated on a st

> For each question, select the single best answer. 1. Water Company owns 80 percent of Fire Company’s outstanding common stock. On December 31, 20X9, Fire sold equipment to Water at a price in excess of Fire’s carrying

> Pie Bakery owns 60 percent of Slice Products Company’s stock. During 20X8, Slice produced 100,000 bags of flour, which it sold to Pie Bakery for $900,000. On December 31, 20X8, Pie had 20,000 bags of flour purchased from Slice Products on hand. Slice pri

> Planner Corporation owns 60 percent of Schedule Company’s voting shares. During 20X3, Planner produced 25,000 computer desks at a cost of $82 each and sold 10,000 of them to Schedule for $94 each. Schedule sold 7,000 of the desks to unaffiliated companie

> Planet Corporation acquired 90 percent of Saturn Company’s voting shares of stock in 20X1. During 20X4, Planet purchased 40,000 Play day doghouses for $24 each and sold 25,000 of them to Saturn for $30 each. Saturn sold 18,000 of the doghouses to retail

> Planet Corporation acquired 90 percent of Saturn Company’s voting shares of stock in 20X1. During 20X4, Planet purchased 40,000 Play day doghouses for $24 each and sold 25,000 of them to Saturn for $30 each. Saturn sold all of the doghouses to retail est

> Select the correct answer for each of the following questions. Amber Corporation holds 80 percent of the stock of Movie Productions Inc. During 20X4, Amber purchased an inventory of snack bar items for $40,000 and resold $30,000 to Movie Productions for

> Select the correct answer for each of the following questions. Lorn Corporation purchased inventory from Dresser Corporation for $120,000 on September 20, 20X1, and resold 80 percent of the inventory to unaffiliated companies prior to December 31, 20X1,

> Select the correct answer for each of the following questions. Blue Company purchased 60 percent ownership of Kelly Corporation in 20X1. On May 10, 20X2, Kelly purchased inventory from Blue for $60,000. Kelly sold all of the inventory to an unaffiliated

> Select the correct answer for each of the following questions. 1. During 20X3, Park Corporation recorded sales of inventory for $500,000 to Small Company, its wholly owned subsidiary, on the same terms as sales made to third parties. At December 31, 20X3

> Assume the same facts as in E8-6 except that the company uses straight-line amortization. Required Select the correct answer for each of the following questions. 1. What amount of interest expense should be included in the 20X4 consolidated income statem

> Power Products Corporation, which sells a broad line of home detergent products, owns 75 percent of the stock of Scrub Soap Company. During 20X8, Scrub sold soap products to Power Products for $180,000, which it had produced for $120,000. Power Products

> Plump Corporation holds 60 percent ownership of Slim Company. Each year, Slim purchases large quantities of a gnarl root used in producing health drinks. Slim purchased $150,000 of roots in 20X7 and sold $40,000 of these purchases to Plump for $60,000. B

> The December 31, 20X8, balance sheets for Pint Corporation and its 70 percent-owned subsidiary Saloon Company contained the following summarized amounts: Pint acquired the shares of Saloon Company on January 1, 20X7. On December 31, 20X8, assume Pint s

> Pistol Corporation acquired 70 percent of Scope Corporation’s voting stock on May 18, 20X1. The companies reported the following data with respect to intercompany sales in 20X4 and 20X5: Pistol reported operating income (excluding inc

> Player Company acquired 60 percent ownership of Scout Company’s voting shares on January 1, 20X2. During 20X5, Player purchased inventory for $20,000 and sold the full amount to Scout Company for $30,000. On December 31, 20X5, Scout&aci

> Pie Bakery owns 60 percent of Slice Products Company’s stock. On January 1, 20X9, inventory reported by Pie included 20,000 bags of flour purchased from Slice at $9 per bag. By December 31, 20X9, all the beginning inventory purchased from Slice Products

> Select the correct answer for each of the following questions: 1. Perez Inc. owns 80 percent of Senior Inc. During 20X2, Perez sold goods with a 40 percent gross profit to Senior. Senior sold all of these goods in 20X2. For 20X2 consolidated financial st

> Server Corporation is a majority-owned subsidiary of Proxy Corporation. Proxy acquired 75 percent ownership on January 1, 20X3, for $133,500. At that date, Server reported common stock outstanding of $60,000 and retained earnings of $90,000, and the fair

> Prophet Corporation acquired 75 percent of Seer Corporation’s voting common stock on December 31, 20X4, for $390,000. At the date of combination, Seer reported the following: At December 31, 20X4, the book values of Seerâ€&

> Professor Corporation acquired 70 percent of Scholar Corporation’s common stock on December 31, 20X4, for $102,200. The fair value of the noncontrolling interest at that date was determined to be $43,800. Data from the balance sheets of

> Pale Company was established on January 1, 20X1. Along with other assets, it immediately purchased land for $80,000, a building for $240,000, and equipment for $90,000. On January 1, 20X5, Pale transferred these assets, cash of $21,000, and inventory cos

> Problem Company owns 90 percent of Solution Dairy’s stock. The balance sheets of the two companies immediately after the Solution acquisition showed the following amounts: The fair value of the non controlling interest at the date of

> Statue Corporation’s balance sheet at January 1, 20X7, reflected the following balances: Prize Corporation entered into an active acquisition program and acquired 80 percent of Statue’s common stock on January 2, 20X

> On June 10, 20X8, Private Corporation acquired 60 percent of Secret Company’s common stock. The fair value of the non controlling interest was $32,800 on that date. Summarized balance sheet data for the two companies immediately after t

> Select the correct answer for each of the following questions. 1. A 70 percent owned subsidiary company declares and pays a cash dividend. What effect does the dividend have on the retained earnings and non controlling interest balances in the parent com

> On December 31, 20X4, Puzzle Corporation acquired 90 percent of Sunday Inc.’s common stock for $864,000. At that date, the fair value of the non controlling interest was $96,000. Of the $240,000 differential, $5,000 related to the increased value of Sund

> Putt Corporation acquired 80 percent of Slice Company’s voting common stock on January 1, 20X4, for $138,000. At that date, the fair value of the noncontrolling interest was $34,500. Slice’s balance sheet at the date o

> Purse Corporation acquired 70 percent of Scarf Corporation’s ownership on January 1, 20X8, for $140,000. At that date, Scarf reported capital stock outstanding of $120,000 and retained earnings of $80,000, and the fair value of the non controlling intere

> Purple Corporation acquired 75 percent of Socks Corporation’s common stock on January 1, 20X8, for $435,000. At that date, Socks reported common stock outstanding of $300,000 and retained earnings of $200,000, and the fair value of the

> This exercise is a continuation of E5-13. Proud Corporation acquired 80 percent of Spirited Company’s voting stock on January 1, 20X3, at underlying book value. The fair value of the non controlling interest was equal to 20 percent of t

> Proud Corporation acquired 80 percent of Spirited Company’s voting stock on January 1, 20X3, at underlying book value. The fair value of the non controlling interest was equal to 20 percent of the book value of Spirited at that date. As

> Server Corporation was created on January 1, 20X0, to develop computer software. On January 1, 20X5, Proxy Company acquired 90 percent of Server’s common stock at its underlying book value. At that date, the fair value of the noncontrol

> You want to produce three 1.00-mm-diameter cylindrical wires, each with a resistance of 1.00 Ω at room temperature. One wire is gold, one is copper, and one is aluminum. Refer to Table 25.1 for the resistivity values. Table 25.1: (a). Wha

> Copper has 8.5 × 1028 free electrons per cubic meter. A 71.0-cm length of 12-gauge copper wire that is 2.05 mm in diameter carries 4.85 A of current. (a). How much time does it take for an electron to travel the length of the wire? (b). Repeat part (a)

> An 18-gauge copper wire (diameter 1.02 mm) carries a current with a current density of 3.20 × 106 A/m2. The density of free electrons for copper is 8.5 × 1028 electrons per cubic meter. Calculate (a). the current in the wire and (b). the drift velocity

> A 5.00-A current runs through a 12-gauge copper wire (diameter 2.05 mm) and through a light bulb. Copper has 8.5 × 1028 free electrons per cubic meter. (a). How many electrons pass through the light bulb each second? (b). What is the current density in

> A parallel-plate capacitor has plates with area 0.0225 m2 separated by 1.00 mm of Teflon. (a). Calculate the charge on the plates when they are charged to a potential difference of 12.0 V. (b). Use Gauss’s law (Eq. 24.23) to calculate the electric fiel

> A parallel-plate capacitor has capacitance C0 = 8.00 pF when there is air between the plates. The separation between the plates is 1.50 mm. (a). What is the maximum magnitude of charge Q that can be placed on each plate if the electric field in the regi

> A parallel-plate capacitor has capacitance C = 12.5 pF when the volume between the plates is filled with air. The plates are circular, with radius 3.00 cm. The capacitor is connected to a battery, and a charge of magnitude 25.0 pC goes onto each plate. W

> When a 360-nF air capacitor (1 nF = 10-9 F) is connected to a power supply, the energy stored in the capacitor is 1.85 × 10-5 J. While the capacitor is kept connected to the power supply, a slab of dielectric is inserted that completely fills the space b

> Polystyrene has dielectric constant 2.6 and dielectric strength 2.0 × 107 V/m. A piece of polystyrene is used as a dielectric in a parallel-plate capacitor, filling the volume between the plates. (a). When the electric field between the plates is 80% of

> The charged plates of a capacitor attract each other, so to pull the plates farther apart requires work by some external force. What becomes of the energy added by this work? Explain.

> A constant potential difference of 12 V is maintained between the terminals of a 0.25-µF, parallel-plate, air capacitor. (a) A sheet of Mylar is inserted between the plates of the capacitor, completely filling the space between the plates. W

> Some cell walls in the human body have a layer of negative charge on the inside surface and a layer of positive charge of equal magnitude on the outside surface. Suppose that the charge density on either surface is ±0.50 × 10-3 C/m2, the cell wall is 5.0

> The dielectric to be used in a parallel-plate capacitor has a dielectric constant of 3.60 and a dielectric strength of 1.60 × 107 V/m. The capacitor is to have a capacitance of 1.25 × 10-9 F and must be able to withstand a maximum potential difference of

> A budding electronics hobbyist wants to make a simple 1.0-nF capacitor for tuning her crystal radio, using two sheets of aluminum foil as plates, with a few sheets of paper between them as a dielectric. The paper has a dielectric constant of 3.0, and the

> Two parallel plates have equal and opposite charges. When the space between the plates is evacuated, the electric field is E = 3.20 × 105 V/m. When the space is filled with dielectric, the electric field is E = 2.50 × 105 V/m. (a). What is the charge de

> A parallel-plate air capacitor has a capacitance of 920 pF. The charge on each plate is 3.90 µC. (a). What is the potential difference between the plates? (b). If the charge is kept constant, what will be the potential difference if the plate separation

> A 0.350-m-long cylindrical capacitor consists of a solid conducting core with a radius of 1.20 mm and an outer hollow conducting tube with an inner radius of 2.00 mm. The two conductors are separated by air and charged to a potential difference of 6.00 V

> For the capacitor network shown in Fig. E24.29, the potential difference across ab is 220 V. Find Fig. E24.29: (a). the total charge stored in this network; (b). the charge on each capacitor; (c). the total energy stored in the network; (d). the ene

> For the capacitor network shown in Fig. E24.28, the potential difference across ab is 48 V. Find Fig. E24.28: (a). the total charge stored in this network; (b). the charge on each capacitor; (c). the total energy stored in the network; (d). the en

> You have two identical capacitors and an external potential source. (a). Compare the total energy stored in the capacitors when they are connected to the applied potential in series and in parallel. (b). Compare the maximum amount of charge stored in e

> Two parallel-plate capacitors, identical except that one has twice the plate separation of the other, are charged by the same voltage source. Which capacitor has a stronger electric field between the plates? Which capacitor has a greater charge? Which ha

> A parallel-plate vacuum capacitor has 8.38 J of energy stored in it. The separation between the plates is 2.30 mm. If the separation is decreased to 1.15 mm, what is the energy stored (a). if the capacitor is disconnected from the potential source so the

> Electric eels and electric fish generate large potential differences that are used to stun enemies and prey. These potentials are produced by cells that each can generate 0.10 V. We can plausibly model such cells as charged capacitors. (a). How should th

> Figure E24.14 shows a system of four capacitors, where the potential difference across ab is 50.0 V. Figure E24.14: (a). Find the equivalent capacitance of this system between a and b. (b). How much charge is stored by this combination of capacitors

> Suppose the 3-µF capacitor in Fig. 24.10a were removed and replaced by a different one, and that this changed the equivalent capacitance between points a and b to 8 µF. What would be the capacitance of the replacement capacitor?

> For the system of capacitors shown in Fig. E24.21, a potential difference of 25 V is maintained across ab. Fig. E24.21: (a). What is the equivalent capacitance of this system between a and b? (b). How much charge is stored by this system? (c). How m

> In Fig. E24.20, C1 = 6.00 µF, C2 = 3.00 µF, and C3 = 5.00 µF. The capacitor network is connected to an applied potential Vab. After the charges on the capacitors have reached their final values, the charge on C2 is

> In Fig. 24.9a, let C1 = 3.00 µF, C2 = 5.00 µF, and Vab = +52.0 V. Calculate Fig. 24.9a: (a). the charge on each capacitor and (b). the potential difference across each capacitor. Vab = V C: b

> In Fig. 24.8a, let C1 = 3.00 µF, C2 = 5.00 µF, and Vab = +64.0 V. Calculate Fig. 24.8a: (a). the charge on each capacitor and (b). the potential difference across each capacitor. +Q. C Vac = V1 Vab = V +Q. Vab = V2 b KI-

> In Fig. E24.17, each capacitor has C = 4.00 µF and Vab = +28.0 V. Calculate Fig. E24.17: (a). the charge on each capacitor; (b). the potential difference across each capacitor; (c). the potential difference between points a and d. C,

> For the system of capacitors shown in Fig. E24.16, find the equivalent capacitance (a). between b and c, and (b). between a and c. Fig. E24.16: a =15 pF 9.0 pF ; pF

> Can the potential difference between the terminals of a battery ever be opposite in direction to the emf? If it can, give an example. If it cannot, explain why not.

> A 10.0-µF parallel-plate capacitor with circular plates is connected to a 12.0-V battery. (a). What is the charge on each plate? (b). How much charge would be on the plates if their separation were doubled while the capacitor remained connected to the

> A cylindrical capacitor has an inner conductor of radius 2.2 mm and an outer conductor of radius 3.5 mm. The two conductors are separated by vacuum, and the entire capacitor is 2.8 m long. (a). What is the capacitance per unit length? (b). The potentia

> A spherical capacitor contains a charge of 3.30 nC when connected to a potential difference of 220 V. If its plates are separated by vacuum and the inner radius of the outer shell is 4.00 cm, calculate: (a). the capacitance; (b). the radius of the inne

> A cylindrical capacitor consists of a solid inner conducting core with radius 0.250 cm, surrounded by an outer hollow conducting tube. The two conductors are separated by air, and the length of the cylinder is 12.0 cm. The capacitance is 36.7 pF. (a). Ca

> A 5.00-µF parallel-plate capacitor is connected to a 12.0-V battery. After the capacitor is fully charged, the battery is disconnected without loss of any of the charge on the plates. (a). A voltmeter is connected across the two plates without dischargi

> A metal sphere with radius ra is supported on an insulating stand at the center of a hollow, metal, spherical shell with radius rb. There is charge +q on the inner sphere and charge -q on the outer spherical shell. (a). Calculate the potential V(r) for

> A metal sphere with radius ra = 1.20 cm is supported on an insulating stand at the center of a hollow, metal, spherical shell with radius rb = 9.60 cm. Charge +q is put on the inner sphere and charge -q on the outer spherical shell. The magnitude of q is

> In a certain region of space, the electric potential is given by V = +Ax2y - Bxy2, where A = 5.00 V/m3 and B = 8.00 V/m3. Calculate the magnitude and direction of the electric field at the point in the region that has coordinates x = 2.00 m, y = 0.400 m,

> In a certain region of space, the electric potential is V (x, y, z) = Axy - Bx2 + Cy, where A, B, and C are positive constants. (a). Calculate the x-, y-, and z-components of the electric field. (b). At which points is the electric field equal to zero?

> A very large plastic sheet carries a uniform charge density of -6.00 nC/m2 on one face. (a). As you move away from the sheet along a line perpendicular to it, does the potential increase or decrease? How do you know, without doing any calculations? Does

> A parallel-plate capacitor is charged by being connected to a battery and is kept connected to the battery. The separation between the plates is then doubled. How does the electric field change? The charge on the plates? The total energy? Explain.

> A total electric charge of 3.50 nC is distributed uniformly over the surface of a metal sphere with a radius of 24.0 cm. If the potential is zero at a point at infinity, find the value of the potential at the following distances from the center of the sp

> Thin spherical shell with radius R1 = 3.00 cm is concentric with a larger thin spherical shell with radius R2 = 5.00 cm. Both shells are made of insulating material. The smaller shell has charge q1 = +6.00 nC distributed uniformly over its surface, and t

> (a). How much excess charge must be placed on a copper sphere 25.0 cm in diameter so that the potential of its center, relative to infinity, is 3.75 kV? (b). What is the potential of the sphere’s surface relative to infinity?

> The electric field at the surface of a charged, solid, copper sphere with radius 0.200 m is 3800 N/C, directed toward the center of the sphere. What is the potential at the center of the sphere, if we take the potential to be zero infinitely far from the

> Two large, parallel, metal plates carry opposite charges of equal magnitude. They are separated by 45.0 mm, and the potential difference between them is 360 V. (a). What is the magnitude of the electric field (assumed to be uniform) in the region betwee

> Two large, parallel conducting plates carrying opposite charges of equal magnitude are separated by 2.20 cm. (a). If the surface charge density for each plate has magnitude 47.0 nC/m2, what is the magnitude of

> A very small sphere with positive charge q = +8.00 µC is released from rest at a point 1.50 cm from a very long line of uniform linear charge density λ = +3.00 µC/m. What is the kinetic energy of the sphere when it is 4.50 cm from the line of charge if t