Question: The following information was taken from the

> Jordan Brothers recently instituted a bonus plan to pay its executives. The plan specifies that net income must exceed $200,000 before any bonus payments are made. Cash in the amount of 10 percent of net income in excess of $200,000 is placed in a bonus

> Zeus Power has brought suit against Regional Supply in the amount of $825,000 for patent infringement. As of December 31, the suit is in process, and the attorneys have determined that there is a greater than 50 percent chance that Zeus Power will win th

> The following information was taken from the 2019 annual report of Bed Bath & Beyond, a leading household retailer (dollars in thousands): a. Assume that accounts payable reflects only accounts with inventory suppliers, and compute the cash payments

> Norsums Department Store sells gift certificates that are redeemable in merchandise. During 2020, Norsums sold gift certificates for $88,000. Merchandise with the total price of $52,000 was redeemed during the year. The cost of the sold merchandise to No

> On January 1, 2016, Lacey Treetoppers borrowed $300,000. The principal is to be paid back in annual payments of $20,000 on December 30 of each year. a. Assuming that Lacey has met all principal payments on a timely basis, how should this liability be rep

> CIT Group is a holding company for consumer and commercial financial services companies that provide lending products to customers. The following information concerning the Allowance for Loan Losses (Bad Debts) account was taken from CIT's 2019 10-K (dol

> On December 1, Spencer Department Store borrowed $19,250 from First Bank and Trust. Spencer signed a 90-day note with a face amount of $20,000. The interest rate stated on the face of the note is 15 percent per year. a. Provide the journal entry recorded

> Lily May Electronics recognizes expenses for wages, interest, and rent when cash payments are made. The following related cash payments were made during December 2020: As of December 31, the current assets and current liabilities reported on Lily May's b

> Darrington and Darling borrowed $100,000 from Commercial Financing to finance the purchase of fixed (i.e., property, plant, and equipment) assets. The loan contract provides for a 5 percent annual interest rate and states that the principal must be paid

> The following information was taken from the annual report of Sega-Venus Enterprises: a. Compute Sega-Venus's conservatism ratio, and comment on how conservative the company's reporting methods are. b. Explain why the conservatism ratio provides a measur

> The following information was taken from the annual report of Busytown Industries: a. Compute Busytown's conservatism ratio, and comment on how conservative the company's reporting methods are. b. Explain why the conservatism ratio provides a measure of

> Swingley Company uses an accelerated method to depreciate its fixed assets for tax purposes and the straight-line method for financial reporting purposes. In 2020, the accelerated method recognized depreciation of $35,000, while the straight-line method

> Seasaw Seasons instituted a defined benefit pension plan for its employees three years ago. Each year since the adoption of the plan, Seasaw has contributed $ 16,000 to the pension fund, which is managed by Fiduciary Trust Associates. As of the end of th

> DuPont, the giant chemical company, booked restructuring charges (expenses) on its income statement in 2019, 2018, and 2017. The 2019 charge was $138 million, which included a $34 million asset write-down and $104 million to cover employee severance cost

> Southwest Airlines is paid in advance for its ticket sales, recognizing a deferred revenue, called air traffic liability, when it receives the cash. The liability is then converted to revenue when the passenger takes the flight. During 2019, Southwest re

> During 2020, Seagul Outboards sold 200 outboard engines for $250 each. The engines are under a one-year warranty for parts and labor, and from past experience, the company estimates that, on average, warranty costs will equal $20 per engine. As of Decemb

> The following information was taken from the 2019 annual report of Emerson Electric Co., a leader in the network power sector (dollars in millions): a. Compute total accounts receivable as of the end of 2019 and 2018, and compute the uncollectible allowa

> Winslow Enterprises reports $40,000 in accounts payable on the balance sheet as of December 31, 2020. These payables, on average, will be paid in ten days. Using a 12 percent discount rate, assume the present value of the $40,000 note is $39,868.80. Why

> Stockton Corporation purchased a new computer system on January 1, 2020, for $300,000 cash. The company also incurred $25,000 in installation costs and $10,000 to train its employees on the new system. The computer system has an estimated useful life of

> Benick Industries purchased a new lathe on January 1, 2020, for $300,000. Benick estimates that the lathe will have a useful life of four years and that the company will be able to sell it at the end of the fourth year for $60,000. a. Compute the depreci

> The controller of Elton Furniture Store is currently trying to decide what depreciation method to use for a particular fixed asset. The controller has prepared the following list of possible objectives that might be accomplished through a depreciation me

> Portland Products purchased a machine on January 1, 2017, for $60,000 and estimated its useful life and salvage value at five years and $12,000, respectively. On January 1, 2020, the company added three years to the original useful-life estimate. a. Comp

> Stork Freight Company owns and operates 15 planes that deliver packages worldwide. The planes were purchased on January 1, 2017, for $1 million each. The company estimates that the planes will be scrapped after 12 years. Stork Freight uses straight-line

> The condensed balance sheet as of December 31, 2020, for Van Den Boom Enterprises follows: Sales and operating expenses (other than amortization) are predicted to be $65,000 and $20,000, respectively, across all three years in the future - 2021, 2022, an

> The following items represent common postacquisition expenditures incurred on machinery: a. Lubrication service b. Painting costs c. Cleaning expenditures d. Rewiring costs to increase operating speed e. Repairs f. Replacement of defective parts g. An ov

> In the footnotes to its IFRS-based financial statements, European Aeronautical Defense and Space Company (EADS), parent company for Airbus, includes a description of a long-lived asset account called " investment property," which is leased to a third par

> When Salesforce purchased MuleSoft for $6.4 billion in cash, it acquired assets with a fair market value of $1.9 billion and assumed the liabilities of MuleSoft valued at $0.2 billion. INSTRUCTIONS: a. How much goodwill was recognized on the acquisition?

> The following information was taken from the financial statements of Coca-Cola and PepsiCo (dollar amounts in millions). a. Compute return on equity, return on assets, capital structure leverage, profit margin, and asset turnover for each company for 201

> Firton Brothers purchased for $90,000 a tract of land that included an abandoned warehouse. The warehouse was razed, and the site was prepared for a new building at a cost of $10,000. Scrap materials from the warehouse were sold for $7,000. A building wa

> The following information was taken from the internal financial records of Southern Robotics regarding a patent filed in 2020 for a new robotics arm used for manufacturing: 1. Legal and filing fees of $50,000 were paid during 2020 for filing the patent.

> Swift Corporation incorporated on January 1, 2020, and incurred $45,000 in organization costs. a. Should Swift Corporation capitalize or expense these costs? Defend your answer. b. If these costs are capitalized, over what period of time should they be a

> The following financial information was taken from the records of Frederickson and Peffer. a. Reconstruct the entry that recorded the sale of equipment during 2020. b. How much equipment was purchased during 2020?

> The following information was taken from the 2019 annual report of Intel, a world-leading supplier to the Internet economy (dollars in millions). a. From which of the financial statements was each figure taken? b. Estimate the cost of property, plant, an

> The following financial information was taken from the records of White Bones Inc. Note: The company purchased equipment for $12,000 during 2020. a. How much cash was collected on the sale of equipment during 2020? b. Reconstruct the entry that recorded

> Paris Company purchased equipment on January 1, 2018, for $25,000. The estimated useful life of the equipment is five years, the salvage value is $5,000, and the company uses the double-declining balance method to depreciate fixed assets. a. Provide the

> Savory Enterprises reported the following information regarding the company's property, plant, and equipment in the footnotes to the company's 2020 financial statements: a. Assume that Savory Enterprises sells all of its equipment for $235,000 in cash on

> Lewis Real Estate purchased a new photocopy machine on January 1, 2020, for $120,000. The company's bookkeeper made the following entry to record the acquisition: The photocopy machine has an estimated useful life of four years and an estimated salvage v

> Natural Extraction Industries paid $4 million for the right to drill for oil on a tract of land in western Texas. Engineers estimated that this oil deposit would produce 100,000 barrels of crude oil. a. During the first year of operations, Natural Extrac

> The following ratios were computed from the 2019 financial statements of Nordstrom and Macy's. Explain why Nordstrom has a higher ROE and a higher ROA.

> Apex Trucking purchased a truck for $ 100,000 on January 1, 2020. The useful life of the truck was estimated to be either five years or 200,000 miles. Salvage value was estimated at $20,000. Over the actual life of the truck, it logged the following mile

> Lowery Inc. purchased new plant equipment on January 1, 2020. The company paid $920,000 for the equipment, $62,000 for transportation of the equipment, and $10,000 for insurance on the equipment while it was being transported. The company also estimates

> Watkins Corporation began operations on January 1, 2019. The 2019 and 2020 schedules of inventory purchases and sales are as follows: Complete the following schedule, and briefly discuss the trade-offs associated with choosing an inventory cost flow assu

> Vinnie's House of Televisions has 75 identical 27-inch color monitors in stock on January 1, 2021. Vinnie maintains records of the serial number of each monitor to track its costs. Vinnie purchased the 75 monitors on December 5, 2020, for $450 each. He a

> Marian's Furs specializes in full-length mink coats. As of January 1, Marian had four top-ofthe-line coats. Although the four coats are equivalent, they were purchased the previous year at different costs: During January, a customer decided to buy any on

> Designer Shoe Warehouse reported the following items in its fiscal 2019 financial report (dollars in millions): Assume that counting errors caused the ending inventory in 2018 to be understated by $50 and the ending inventory in 2019 to be overstated by

> The following information comes from the records of Telly's Supply: An inventory count taken at year-end indicates that inventory with a cost of $50,000 is on hand as of December 31, 2020. Assume that inventory purchases and freight-in are both reflected

> The following information was extracted from annual reports of 3M (dollars in millions): Compute the missing information.

> Baymont Corporation purchased inventory on account on March 3, 2020, for a gross price of $50,000. The company purchased additional inventory on account on March 10, 2020, for a gross price of $140,000. Baymont Corporation paid for the first purchase on

> Nick's Fish Market purchased Maine lobster on account on October 10, 2020, for a gross price of $76,000. Nick also purchased Alaskan king crab on account on October 11, 2020, for a gross price of $36,000. Nick paid for the first purchase on October 20, 2

> For all quality of earnings cases except Liberty, when making ratio calculations that include balance sheet accounts, use ending and not average balances. The ratio calculations for Liberty are already calculated for you.

> Repeat Problems 8.11 and 8.12 using (incorrectly) Bernoulli’s equation for incompressible flow. Calculate the percent error induced by using Bernoulli’s equation

> Consider a flow with a pressure and temperature of 2116 lb/ft2 and 519 ◦R, respectively. A Pitot tube is inserted into this flow and measures a pressure of 7712.8 lb/ft2. What is the velocity of this flow?

> Consider a flow with a pressure and temperature of 1 atm and 288 K. A Pitot tube is inserted into this flow and measures a pressure of 1.555 atm. What is the velocity of the flow?

> The flow just upstream of a normal shock wave is given by p1=1800 lb/ft2, T1=480 ◦R, and M1=3.1. Calculate the velocity and M∗ behind the shock.

> Consider air at a temperature of 230 K. Calculate the speed of sound.

> An airfoil is in a freestream where p∞ = 0.61 atm, ρ∞ = 0.819 kg/m3, and V∞=300 m/s. At a point on the airfoil surface, the pressure is 0.5 atm. Assuming isentropic flow, calculate the velocity at that point.

> In the reservoir of a supersonic wind tunnel, the velocity is negligible, and the temperature is 1000 K. The temperature at the nozzle exit is 600 K. Assuming adiabatic flow through the nozzle, calculate the velocity at the exit.

> Consider a point in a flow where the velocity and temperature are 1300 ft/s and 480 ◦R, respectively. Calculate the total enthalpy at this point.

> Consider air at a pressure of 0.2 atm. Calculate the values of τT and τs . Express your answer in SI units.

> Consider the isentropic flow through a supersonic wind-tunnel nozzle. The reservoir properties are T0=500 K and p0=10 atm. If p=1 atm at the nozzle exit, calculate the exit temperature and density.

> Derive Archimedes’ principle using a body of general shape.

> Consider the isentropic flow over an airfoil. The freestream conditions are T∞ = 245 K and p∞ = 4.35 × 104 N/m2. At a point on the airfoil, the pressure is 3.6 × 104 N/m2. Calculate the density at this point.

> Just upstream of a shock wave, the air temperature and pressure are 288 K and 1 atm, respectively; just downstream of the wave, the air temperature and pressure are 690 K and 8.656 atm, respectively. Calculate the changes in enthalpy, internal energy, an

> Calculate cp, cv, e, and h for a. The stagnation point conditions given in Problem 7.1 b. Air at standard sea level conditions (If you do not remember what standard sea level conditions are, find them in an appropriate reference, such as Reference 2.)

> Bernoulli’s equation, Equation (3.13), (3.14), or (3.15), was derived in Chapter 3 from Newton’s second law; it is fundamentally a statement that force=mass*acceleration. However, the terms in Bernoulli’s equation have dimensions of energy per unit volum

> Repeat Problem 7.10, considering the flow of Problem 7.11.

> Repeat Problem 7.9, considering a point on the airfoil surface where the pressure is 0.3 atm.

> Calculate the percentage error obtained if Problem 7.9 is solved using (incorrectly) the incompressible Bernoulli equation.

> The temperature and pressure at the stagnation point of a high-speed missile are 934 ◦R and 7.8 atm, respectively. Calculate the density at this point.

> A sphere and a circular cylinder (with its axis perpendicular to the flow) are mounted in the same freestream. A pressure tap exists at the top of the sphere, and this is connected via a tube to one side of a manometer. The other side of the manometer is

> Prove that three-dimensional source flow is a physically possible incompressible flow.

> Consider a circular cylinder in a hypersonic flow, with its axis perpendicular to the flow. Let φ be the angle measured between radii drawn to the leading edge (the stagnation point) and to any arbitrary point on the cylinder. The pressure coefficient di

> Prove that three-dimensional source flow is irrotational.

> Consider the Supermarine Spitfire shown in Figure 5.19. The first version of the Spitfire was the Mk I, which first flew in 1936. Its maximum velocity is 362 mi/h at an altitude of 18,500 ft. Its weight is 5820 lb, wing area is 242 ft2, and wing span is

> In Problem 1.19 we noted that the Wright brothers, in the design of their 1900 and 1901 gliders, used aerodynamic data from the Lilienthal table given in Figure 1.65. They chose a design angle of attack of 3 degrees, corresponding to a design lift coeffi

> Repeat Problem 5.6, except for a lower aspect ratio of 3. From a comparison of the results from these two problems, draw some conclusions about the effect of wing sweep on the lift slope, and how the magnitude of this effect is affected by aspect ratio.

> Consider a finite wing with an aspect ratio of 6. Assume an elliptical lift distribution. The lift slope for the airfoil section is 0.1/degree. Calculate and compare the lift slopes for (a) a straight wing, and (b) a swept wing, with a half-chord line

> Consider the airplane and flight conditions given in Problem 5.4. The span efficiency factor e for the complete airplane is generally much less than that for the finite wing alone. Assume e=0.64. Calculate the induced drag for the airplane in Problem 5.4

> The Piper Cherokee (a light, single-engine general aviation aircraft) has a wing area of 170 ft2 and a wing span of 32 ft. Its maximum gross weight is 2450 lb. The wing uses an NACA 65-415 airfoil, which has a lift slope of 0.1033 degree−1 and αL=0=-3◦.

> The measured lift slope for the NACA 23012 airfoil is 0.1080 degree−1, and αL=0 = −1.3◦. Consider a finite wing using this airfoil, with AR = 8 and taper ratio = 0.8. Assume that δ = τ . Calculate the lift and induced drag coefficients for this wing at a

> Consider the same vortex filament as in Problem 5.1. Consider also a straight line through the center of the loop, perpendicular to the plane of the loop. Let A be the distance along this line, measured from the plane of the loop. Obtain an expression fo

> Consider the Spitfire in Problem 5.9 on its landing approach at sea level with a landing velocity of 70 mi/h. Calculate the induced drag coefficient for this low-speed case. Compare your result with the high-speed case in Problem 5.9. From this, what can

> The German Zeppelins of World War I were dirigibles with the following typical characteristics: volume =15,000 m3 and maximum diameter= 14.0 m. Consider a Zeppelin flying at a velocity of 30 m/s at a standard altitude of 1000 m (look up the corresponding

> If the elliptical wing of the Spitfire in Problem 5.9 were replaced by a tapered wing with a taper ratio of 0.4, everything else remaining the same, calculate the induced drag coefficient. Compare this value with that obtained in Problem 5.9. What can yo

> Consider a vortex filament of strength Г in the shape of a closed circular loop of radius R. Obtain an expression for the velocity induced at the center of the loop in terms of Г and R.

> Starting with Equations (4.35) and (4.43), derive Equation (4.62).

> Compare the results of Problems 4.6 and 4.7 with experimental data for the NACA 4412 airfoil, and note the percentage difference between theory and experiment. (Hint: A good source of experimental airfoil data is Reference 11.)

> For the airfoil given in Problem 4.6, calculate cm,c/4 and xcp/c when α = 3◦.

> The NACA 4412 airfoil has a mean camber line given by Using thin airfoil theory, calculate (a) αL=0 (b) cl when α = 3◦

> Consider a thin, symmetric airfoil at 1.5◦ angle of attack. From the results of thin airfoil theory, calculate the lift coefficient and the moment coefficient about the leading edge.

> Starting with Equation (4.35), derive Equation (4.36).

> Starting with the definition of circulation, derive Kelvin’s circulation theorem, Equation (4.11).

> Consider an NACA 2412 airfoil with a 2-m chord in an airstream with a velocity of 50 m/s at standard sea level conditions. If the lift per unit span is 1353 N/m, what is the angle of attack?

> A U-tube mercury manometer is used to measure the pressure at a point on the wing of a wind-tunnel model. One side of the manometer is connected to the model, and the other side is open to the atmosphere. Atmospheric pressure and the density of liquid me

> For the conditions given in Problem 4.15, a more reasonable calculation of the skin friction coefficient would be to assume an initially laminar boundary layer starting at the leading edge, and then transitioning to a turbulent boundary layer at some poi

> The airfoil section of the wing of the British Spitfire of World War II fame (see Figure 5.19) is an NACA 2213 at the wing root, tapering to an NACA 2205 at the wing tip. The root chord is 8.33 ft. The measured profile drag coefficient of the NACA 2213 a

> The question is often asked: Can an airfoil fly upside-down? To answer this, make the following calculation. Consider a positively cambered airfoil with a zero-lift angle of 3◦. The lift slope is 0.1 per degree. (a) Calculate the lift coefficient at an a

> In Section 3.15 we studied the case of the lifting flow over a circular cylinder. In real life, a rotating cylinder in a flow will produce lift; such real flow fields are shown in the photographs in Figures 3.34(b) and (c). Here, the viscous shear stress

> For the airfoil in Problem 4.11, calculate the value of the circulation around the airfoil.

> Consider again the NACA 2412 airfoil discussed in Problem 4.10. The airfoil is flying at a velocity of 60 m/s at a standard altitude of 3 km (see Appendix D). The chord length of the airfoil is 2 m. Calculate the lift per unit span when the angle of atta