## Transcribed Image Text: (20 minutes) IBM Corp. is a public company that manufactures and sells computer equipment and provides support services. IBM’s customers can purchase

Transcribed Image Text: (20 minutes)
IBM Corp. is a public company that manufactures and sells computer equipment and
provides support services. IBM’s customers can purchase computer equipment or support
services separately, but the company also offers computer equipment that includes
support as a package.
On October 1, 2020, Next Web Ltd. enters into a contract to purchase a computer
equipment and support package from IBM. The contract is for \$100 million and includes
the computer equipment and 10 years of support services once the computer equipment
is delivered.
The computer equipment that was purchased by Next Web would normally sell for \$95 C
million and 10 years of support services would be valued at \$15 million if purchased
separately. IBM’s management expects the computer equipment to be delivered by
October 1, 2021. The support is expected to be provided evenly for 10 years after
delivery of the computer equipment.
The contract requires Next Web to make a \$15-million payment to IBM within 30 days
signing the contract and then \$35 million on October 1, 2021, with the balance to be pa
annually over 10 years once the computer equipment is delivered on October 1, 2021.
Next Web has secured financing to pay for the computer equipment and so IBM’s
management has no concerns related to collectability.
Required
1. Assuming that IBM provides the goods and services as and when expected under th
contract and Next Web makes its payments as required, determine when and how
much revenue IBM would be able to recognize as part of the contract. Use the mode
for revenue recognition introduced in class and the textbook in preparing your
response. Round percentages to the nearest two decimal places.
2. Based on your analysis in part “1” prepare the required journal entries on October 1,
2020, October 31, 2020 and October 1, 2021.
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## solve 4 .. Transcribed Image Text: Example: find the tangent plane and normal line of the surface | S(x, y, z) = x² + y²

solve 4 .. Transcribed Image Text: Example: find the tangent plane and normal line of the surface
| S(x, y, z) = x² + y² + z² = 3 at the point P, (1,1,1)
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Example: find the tangent plane and normal line of the surface
2 S(x, y, z) =x² + y° + z – 9 = 0 at the point P,(1,2,4)
Example: Find the curvature of the curve, where a&b> o
3
r= (acos ti + asin tj + btk)
Example: Find the torsion of the r= (cos t i + sin tj + tk)
Example: Find the direction derivative of the function
5
F(x.y,z)=x2 + y2 + z² at point p.(1,1,1)in the direction of
Vector v=i+j+k.

## During 2019, Walnut City reported the following receipts from self-sustaining activities paid for by users of the services rendered: Operation of water supply plant .

During 2019, Walnut City reported the following receipts from self-sustaining activities paid for by users of the services rendered: Operation of water supply plant . . . . . . . . . . . . . . .  . . . . . . . . . . . \$5,000,000 Operation of bus system . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 900,000 What amount should be accounted for inWalnut’s enterprise funds? a. \$0 b. \$900,000 c. \$5,000,000 d. \$5,900,000

## Transcribed Image Text: An object on the end of a spring is oscillating in simple harmonic motion given by: x(t) = (5.0 cm) cos((2.0 rad/s)t

Transcribed Image Text: An object on the end of a spring is oscillating in simple harmonic motion given by:
x(t)
What is the maximum speed of this mass, and where in the motion does this occur?
10 cm/s, happens when it is passing through equilibrium.
2.0 cm/s, happens when it is at its maximum displacement from equilibrium.
O 2.5 cm/s, happens when it is at its maximum displacement from equilibrium.
O 2.0 cm/s, happens when it is passing through equilibrium.
10 cm/s, happens when it is at its maximum displacement from equilibrium.

## Transcribed Image Text: Managerial Accounting -Spring21 Time left 0:28 Question XYZ Co. has the following sales mix for its three products: A, 35%; B, 45%;

Transcribed Image Text: Managerial Accounting -Spring21
Time left 0:28
Question
XYZ Co. has the following sales mix for its three products: A, 35%; B, 45%; and C, 20%. Fixed costs total \$400,000 and the weighted-average
contribution margin is \$100. How many units of product B must be sold to break-even?
Hot yet
unswered
О а. 1,800.
O b. 14,00.
Marked out of
2.00
O c. 4,000
P Flag
question
O d. 800.
O e.
None of the answers is correct.
For XYZ Company, how many units of their product would have to be sold to yield a target operating income of \$46,000 for the financial year
ending 2021, assuming variable costs are \$35 per unit, total fixed costs are \$4,000, and the unit selling price is \$60?
Question
6.
Not yet
O a.
1,800 units
O b. 2,000 units
Marked out of
2.00
c.
1,429 units
P Flag
O d. 160 units
question

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## Transcribed Image Text: “In my opinion, we ought to stop making our own drums and accept that outside supplier’s offer,” said Wim Niewindt, managing director

Transcribed Image Text: “In my opinion, we ought to stop making our own drums and accept that outside supplier’s offer,” said Wim Niewindt, managing
director of Antilles Refining, N.V., of Aruba. “At a price of \$19 per drum, we would be paying \$5.45 less than it costs us to manufacture
the drums in our own plant. Since we use 85,000 drums a year, that would be an annual cost savings of \$463,250.” Antilles Refining’s
current cost to manufacture one drum is given below (based on 85,000 drums per year):
Direct materials
\$10.70
Direct labor
5.50
1.50
and, \$1.00 supervision)
6.75
Total cost per drum
\$24.45
A decision about whether to make or buy the drums is especially important at this time because the equipment being used to make
the drums is completely worn out and must be replaced. The choices facing the company are:
Alternative 1: Rent new equipment and continue to make the drums. The equipment would be rented for \$255,000 per year.
Alternative 2: Purchase the drums from an outside supplier at \$19 per drum. Transcribed Image Text: The new equipment would be more efficient than the equipment that Antilles Refining has been using and, according to the
manufacturer, would reduce direct labor and variable overhead costs by 30%. The old equipment has no resale value. Supervision cost
(\$85,000 per year) and direct materials cost per drum would not be affected by the new equipment. The new equipment’s capacity
would be 125,000 drums per year.
The company’s total general company overhead would be unaffected by this decision. (Round all intermediate calculations to 2
decimal places.)
Required:
1. Assuming that 85,000 drums are needed each year, what is the financial advantage (disadvantage) of buying the drums from an
outside supplier?
2. Assuming that 100,000 drums are needed each year, what is the financial advantage (disadvantage) of buying the drums from an
outside supplier?
3. Assuming that 125,000 drums are needed each year, what is the financial advantage (disadvantage) of buying the drums from an
outside supplier?

## Transcribed Image Text: PrimeTime Sportswear is a custom imprinter that began operations six months ago. Sales have exceeded management’s most optimistic projections. Sales are made

Transcribed Image Text: PrimeTime Sportswear is a custom imprinter that began operations six months ago. Sales have exceeded management’s
most optimistic projections. Sales are made on account and collected as follows: 51% in the month after the sale is made
and 46% in the second month after sale. Merchandise purchases and operating expenses are paid as follows:
In the month during which the merchandise is purchased or the cost is incurred
In the subsequent month
75%
25%
PrimeTime Sportswear’s income statement budget for each of the next four months, newly revised to reflect the success
of the firm, follows:
September
\$ 42,100
October
November
December
Sales
\$ 53,700
\$ 67,600
\$ 59,300
Cost of goods sold:
\$ 14,380
\$ 20,110
Beginning inventory
Purchases
\$ 5,530
38,100
\$ 43,630
(14,380)
\$ 29,250
\$ 12,850
\$ 22,390
48,900
\$ 69,010
43,900
\$ 58,280
(20,110)
\$ 38,170
\$ 15,530
13,000
\$ 2,530
33,500
\$ 55,890
(20,080)
\$ 35,810
\$ 23,490
16,500
\$ 6,990
Cost of goods available for sale
Less: Ending inventory
Cost of goods sold
(22,390)
\$ 46,620
\$ 20,980
14, 200
\$ 6,780
Gross profit
Operating expenses
10,500
Operating income
\$ 2,350
Cash on hand August 31 is estimated to be \$39,730. Collections of August 31 accounts receivable were estimated to be
\$16,530 in September and \$14,920 in October. Payments of August 31 accounts payable and accrued expenses in
September were estimated to be \$24,430.
Required:
a-1. Prepare a cash budget for October and November. (Beginning cash should be indicated with a minus sign if it is a
negative amount.)
Answer is complete but not entirely correct.
October
November
Beginning cash
(4,570) 8 \$ (23,004) 8
Cash receipts:
August 31 accounts receivable
14,920 O
September sales
21,471 O
19,366 O
October sales
27,387 O
November sales
Total cash receipts
\$ 36,391
2\$
46,753
Cash disbursements:
September purchases
\$ 9,525 O \$
October purchases
32,925 O
10,975 O
November purchases
36,675 O
September operating expenses
2,625 O
October operating expenses
9,750 O
3.250 O
November operating expenses
10,650 O
Total cash disbursements
\$ 54.825
\$
61,550
Ending cash
\$(23,004)
\$ (37,801) Transcribed Image Text: b-1. Assume now that PrimeTime Sportswear is a mature firm, and that the September-November data represent a
seasonal peak in business. Prepare a cash budget for December, January, and February, assuming that the income
statements for January and February are the same as December’s. (Beginning cash should be indicated with a minus
sign if it is a negative amount.)
December
January
February
Beginning cash
Cash receipts:
October sales
November sales
December sales
January sales
Total cash receipts
Cash disbursements:
November purchases
2\$
December purchases
January purchases
February purchases
November operating expenses
December operating expenses
January operating expenses
February operating expenses
Total cash disbursements
Ending cash
\$
\$
%24
%24
%24

## Amitabh and Babul are partners sharing profits in the ratio of 3:2, with capitals of Rs. 50,000 and Rs. 30,000 respectively. Interest on capital is

Amitabh and Babul are partners sharing profits in the ratio of 3:2, with capitals of Rs. 50,000 and Rs. 30,000 respectively. Interest on capital is agreed @ 6% p.a. Babul is to be allowed an annual salary of Rs. 2,500. During the year 2016-17, the profits prior to the calculation of interest on capital but after charging Babul’s salary amounted to Rs. 12,500. A provision of 5% of the profit is to be made in respect of commission to the Manager. Prepare Profit and Loss Appropriation account showing the distribution of profit and the partners’ capital accounts for the year ending March 31, 2017.

## Phil and Susan Hammond are married taxpayers filing a joint return. The couple have two dependent children. Susan Hammond has wages of \$34,000 in 2019.

Phil and Susan Hammond are married taxpayers filing a joint return. The couple have two dependent children. Susan Hammond has wages of \$34,000 in 2019. Phil does not work due to a disability, but he is a buyer and seller of stocks. He generally buys and holds for long-term gain but occasionally gets in and out of a stock quickly. The couple’s 2019 stock transactions are detailed below. In addition, they have \$2,300 of qualifying dividends. Transcribed Image Text: Date
Item
Acquired
Date Sold
Cost
Sales Price
Blue stock (10 shares)
11/10/18
03/12/19
\$3,000
\$6,000
Purple stock (100 shares) 12/13/17
05/23/19
36,000
32,000
Beige stock (50 shares)
12/14/14
07/14/19
13,000
14,500
Red stock (100 shares)
06/29/18
05/18/19
26,000
27,000
Black stock (100 shares)
05/15/18
10/18/19
67,000
67,800
Gray stock (100 shares)
04/12/17
10/18/19
89,000
88,200 Transcribed Image Text: 100 shares of Purple
12/13/17
05/23/19
32,000 V
36,000
-4,000 X
Company
50 shares of Beige Company
12/14/14
07/14/19
14,500
13,000
1,500
100 shares of Black Company
05/15/18
10/18/19
67,800
66,000 X
1,800 x
100 shares of Gray Company
04/12/17
10/18/19
88,200 V
89,000
-800
2 Totals. Add the amounts in columns (d), (e), (g), and (h)
(subtract negative amounts). Enter each total here and
include on your Schedule D, line 8b (if Box D above is
checked), line 9 (if Box E above is checked), or line 10 (if
Box F above is checked) ►
202,500
202,500 X
202,500 X
Note: If
you checked Box D above but the basis reported to the IRS was incorrect, enter in column (e) the basis as reported to the IRS, and

## Dan Wood Ltd commenced business on 1st January 2020 making one product only, which sells for K160 per item. The production and sales data for

Dan Wood Ltd commenced business on 1st January 2020 making one product only, which sells for K160 per item. The production and sales data for each of the first three months of 2020 was as follows: January February March Sales in units 2,400 2,500 3,800 Production in units 2,700 2,400 4,000 Actual information for each month was as follows: Direct materials 3 kilograms at K5 per kilogram Direct labour 4 hours at K10 per hour Variable production overheads 150% of direct labour Sales commission 10% of sales value Fixed production overheads K10,000 Fixed selling overheads K35,000 There was no opening inventory at the start of January. Fixed production overheads are budgeted at K120,000 per annum and are absorbed into products based on a budgeted normal output of 30,000 units per annum Required: Prepare a profit statement for each of the three months using absorption costing principlesDan Wood Ltd commenced business on 1st January 2020 making one product only, which sells for K160 per item. The production and sales data for each of the first three months of 2020 was as follows: January February March Sales in units 2,400 2,500 3,800 Production in units 2,700 2,400 4,000 Actual information for each month was as follows: Direct materials 3 kilograms at K5 per kilogram Direct labour 4 hours at K10 per hour Variable production overheads 150% of direct labour Sales commission 10% of sales value Fixed production overheads K10,000 Fixed selling overheads K35,000 There was no opening inventory at the start of January. Fixed production overheads are budgeted at K120,000 per annum and are absorbed into products based on a budgeted normal output of 30,000 units per annum Required: Prepare a profit statement for each of the three months using absorption costing principles Transcribed Image Text: January
February
March
Sales in units
2,400
2,500
3,800
Production in units
2,700
2,400
| 4,000
Actual information for each month was as follows:
Direct materials
3 kilograms at K5 per kilogram
4 hours at K10 per hour
Direct labour
Variable production overheads 150% of direct labour
Sales commission
10% of sales value