Daniel Perkins is the sole shareholder of Perkins Inc., which is currently under protection of the U.S. bankruptcy court. As a "debtor in possession," he has negotiated the following revised loan agreement with United Bank. Perkins Inc.'s $600,000, 12%, 10-year note was refinanced with a$600,000, 5%, 10-year note.

Instructions

a. What is the accounting nature of this transaction?

b. Prepare the journal entry to record this refinancing.

1. On the books of Perkins Inc.
2. On the books of United Bank.

c. Discuss whether generally accepted accounting principles provide the proper information useful to managers and investors in this situation.

The United States Postal Service delivers about

$$2 ^ { 8 } \cdot 5 ^ { 2 }$$

pieces of mail each second. There are

$$2 ^ { 8 } \cdot 3 ^ { 4 } \cdot 5 ^ { 2 }$$

seconds in 6 days. How many pieces of mail does the United States Postal Service deliver in 6 days? Write your answer as an expression involving powers.

What is visual hierarchy in map design? How is the hierarchy related to the map purpose?

The General Social Survey asks questions about one's happiness in marriage. Is there an association between gender and happiness in marriage? Use the data in the table to determine if gender is associated with happiness in marriage. Treat gender as the explanatory variable.

$$\begin{matrix} \text{ } & \text{Male} & \text{Female} & \text{Total}\\ \text{Very happy} & \text{7690} & \text{7942} & \text{15551}\\ \text{Pretty happy} & \text{3738} & \text{4447} & \text{8185}\\ \text{Not too happy} & \text{259} & \text{460} & \text{719}\\ \text{Total} & \text{11606} & \text{12849} & \text{24455}\\ \end{matrix}$$

Modern vacuum pumps make it easy to attain pressures of the order of $10^{-13}$ atm in the laboratory. Consider a volume of air and treat the air as an ideal gas. (a) At a pressure of $9.00 \times 10^{-14}$ atm and an ordinary temperature of 300.0 K, how many molecules are present in a volume of $1.00 \mathrm{cm}^{3}$? (b) How many molecules would be present at the same temperature but at 1.00 atm instead?

Listed below are nine technical accounting terms:

$$\begin{array}{lll}\text { Variable costs } & \text { Relevant range } & \text { Contribution margin } \\ \text { Break-even point } & \text { Fixed costs } & \text { Semivariable costs } \\ \text { Economies of scale } & \text { Sales mix } & \text { Unit contribution margin }\end{array}$$

Each of the following statements may (or may not) describe one of these technical terms. For each statement, indicate the accounting term described, or answer "None" if the statement does not correctly describe any of the terms.

g. Costs that respond to changes in sales volume by less than a proportionate amount.

a. What are the three main particles in the modern model of an atom? b. Why do atoms have no electric charge even though most of their particles have charges? c. What is atomic number, and how is it used to distinguish one element from another? d. The atomic number of the isotope nitrogen-15 is 7 . How many protons, neutrons, and electrons make up an atom of nitrogen-15?

Listed below are nine technical accounting terms used in this chapter:

$$\begin{array}{lll}\text { Unrecorded revenue } & \text { Adjusting entries } & \text { Accrued expenses } \\ \text { Book value } & \text { Matching principle } & \text { Accumulated depreciation } \\ \text { Unearned revenue } & \text { Materiality } & \text { Prepaid expenses }\end{array}$$

Each of the following statements may (or may not) describe one of these technical terms. For each statement, indicate the accounting term described, or answer "None" if the statement does not correctly describe any of the terms.
f. A type of account credited when customers pay in advance for services to be rendered in the future.

The United States Capitol Rotunda is a circular room located in the Capitol Building in Washington, D.C. The radius of the room is 48 feet. What is its circumference?

The number of AIDS-related deaths/year in the United States is given by the function $f(t)=-53.254 t^{4}+673.7 t^{3}-2801.07 t^{2} +8833.379 t+20,000$ $(0 \leq t \leq 9)$ with t=0 corresponding to the beginning of 1988. Find the total number of AIDS-related deaths in the United States between the beginning of 1988 and the end of 1996.

Use context clues and your knowledge of specialized vocabularies to answer the following question. Compared with black schools under apartheid, American schools are SHANGRI-LAS, with modern textbooks, school buses, computers, libraries, lunch programs and dedicated teachers. What is the most likely meaning of Shangri-Las in the essay? A flawed institutions B average schools C ideal places D suitable locales

Design a conceptmap that compares and contrasts the atomic Ideas proposed by Democritus and John Dalton.

Construct a Plackett-Burman design for 10 variables containing 24 experimental runs.

Listed below are nine technical accounting terms:

$$\begin{array}{lll}\text { Variable costs } & \text { Relevant range } & \text { Contribution margin } \\ \text { Break-even point } & \text { Fixed costs } & \text { Semivariable costs } \\ \text { Economies of scale } & \text { Sales mix } & \text { Unit contribution margin }\end{array}$$

Each of the following statements may (or may not) describe one of these technical terms. For each statement, indicate the accounting term described, or answer "None" if the statement does not correctly describe any of the terms.

e. Unit sales price minus variable cost per unit.