Related questions with answers

Assume McDonald’s enters into a contract to sell Billy Bear dolls for Toys4U Stores. Based on the contract, McDonald’s displays the dolls in selected stores. Toys4U is not paid until the dolls have been sold by McDonald’s, and unsold dolls are returned to Toys4U. Required: Determine whether Toys4U has satisfied its performance obligation when it delivers the dolls to McDonald’s. Explain your answer.

Same as the above problem , but use suitable plotting software to make plots for ${ }^4 \mathrm{He}$ and ${ }^{238} \mathrm{U}$ .

Diving in the Bathysphere The American naturalist Charles William Beebe $(1877-1962)$ set a world record in $1934$ when he and Otis Barton $(1899-1992)$ made a dive to a depth of $923 \mathrm{~m}$ below the surface of the ocean. The dive was made just $10$ miles from Nonsuch Island, off the coast of Bermuda, in a device known as the bathysphere, designed and built by Barton. The bathysphere was basically a steel sphere $4.75 \mathrm{ft}$ in diameter with three small ports made of fused quartz. Lowered into the ocean on a steel cable whose radius was $1.85 \mathrm{~cm}$ , the bathysphere also carried bottles of oxygen, chemicals to absorb carbon dioxide, and a telephone line to the surface. Beebe was fascinated by the new forms of life he and Barton encountered on their numerous dives. At one point he saw a "creature, several feet long, dart toward the window, turn sideways and-explode. At the flash, which was so strong that it illumined my face... I saw the great red shrimp and the outpouring fluid of flame." No wonder he considered the ocean depths to be "a world as strange as that of Mars." The dives were not without their risks, however. It was not uncommon, for example, to have the bathysphere return to the surface partially filled with water after a window seal failed. On one deep dive, water began to stream rapidly into the sphere. Beebe quickly called to the surface and asked-not to be raised quickly-but to be lowered more rapidly, in the hope that increasing water pressure would force the leaking window into its seals to stop the leak. It worked, showing that Beebe was not only an exceptional naturalist, but also a cool-headed scientist with a good knowledge of basic physics!

How many moles of air did the bathysphere contain when it was sealed at the surface, assuming a temperature of $297 \mathrm{~K}$ and ignoring the thickness of the metal shell? (Note: A resting person breathes roughly $0.5 \mathrm{~mol}$ of air per minute.)

\begin{array}{ll}\text { A. } 65.2 \mathrm{~mol} & \text { B. } 270 \mathrm{~mol}\end{array}

\begin{array}{ll}\text { C. } 392 \mathrm{~mol} & \text { D. } 523 \mathrm{~mol}\end{array}

Question

Cutler Education Corporation developed a software product to help children under age 12 learn mathematics. The software contains two separate parts: Basic Level (Level I) and Intermediate Level (Level II). Parents purchase each level separately and are eligible to purchase the access code for Level II only if their children pass the Level I exam. Kerry purchases the Level I software at a price of $50 for his son, Tom, on December 1. Suppose Tom passed the Level I test on December 10, and Kerry immediately purchased the access code for Level II for an additional$30. Cutler provided Kerry with the access code to Level II on December 20. Required: When would Cutler recognize revenue for the sale of Level I and Level II software?

Solutions

Verified

Solution A

Solution B

Step 1

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Cutler would recognize revenue for the sale of Level I and Level II software when it is paid and sold.

Performance obligation is satisfied since the customer has (1) paid the seller, (2) assumed risks and rewards of ownership, and (3) accepted the asset. Refer to page 238 for more details.