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?

The Modern Language Association plans a three-day meeting. The program committee requests 15 overhead projectors for the first day, 28 for the second day, and 19 for the third day. Projectors may be rented for a single day for $17, and they may be rented for two consecutive days for$30. How many should be rented for a single day and how many should be rented for two consecutive days to minimize rental costs?

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 mailroom employees send all remittances and remittance advices to the cashier. The cashier deposits the cash in the bank and forwards the remittance advices and duplicate deposit slips to the Accounting Department.

a. Indicate the weak link in internal control in the handling of cash receipts.

b. How can the weakness be corrected?

Mary Wade owns a small business that rents parking spaces to students at the local university. Mary’s typical rental contract requires the student to pay the year’s rent of $720 ($60 per month) in advance. When Mary prepares financial statements at the end of December, her accountant requires that Mary spread the $720 over the 12 months that a parking space is rented. Therefore, Mary can recognize only$240 revenue (4 months) from each contract in the year the cash is collected and must defer recognition of the remaining $480 (8 months) to next year. Mary argues that getting students to agree to rent the parking space is the most difficult part of the activity so she ought to be able to recognize all$720 as revenue when the cash is received from a student.

Required:

Explain why generally accepted accounting principles require the use of accrual accounting rather than cash-basis accounting for transactions like the one described here.

Palm oil is one of the world's most versatile raw materials. It is estimated that it is an ingredient in $50 \%$ of all products sold by a typical supermarket. It is used in a wide range of products from margarine, cereals, crisps, sweets and baked goods to soaps, washing powders and cosmetics but it is often listed as just 'vegetable oil'. So, its production benefits customers of these products. In addition, an estimated $1.5$ million small farmers grow the crop in Indonesia, along with about $500000$ people directly employed in the sector in Malaysia, plus those connected with related industries. The governments of these countries have encouraged production as it is a major export for these economies.

However, the industry has a poor image. Palm oil production has led to deforestation with a resulting negative impact on climate change. There has been substantial loss of wildlife habitat, even endangering the orangutan. Palm oil companies have been accused by community groups of driving native people off their land which is then used for palm oil production. Socially responsible businesses, such as KL Kepong in Malaysia, have agreed to an ethical code which aims to make palm oil production 'sustainable' with fair treatment for all local populations affected by it. However, many companies have been accused of breaking the code as there is no strong world body to stop them behaving irresponsibly. In any case, food manufacturers want to maximise profits and final consumers want the cheapest raw materials possible.

Analyse the impact on these two stakeholder groups of a decision by KL Kepong to close one of its palm oil plantations

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.

Are the marks one receives in a course related to the amount of time spent studying the subject? To investigate this mysterious possibility, a student took a random sample of 10 students who had enrolled in an accounting class last semester. He asked each to report his or her mark in the course and the total number of hours spent studying accounting. These data are listed here: Study

$$\begin{array}{rllllllllll}\text { time } & 40 & 42 & 37 & 47 & 25 & 44 & 41 & 48 & 35 & 28 \\ \text { Marks } & 77 & 63 & 79 & 86 & 51 & 78 & 83 & 90 & 65 & 47\end{array}$$

Calculate the covariance.

Design a method to determine the solubility of an unknown substance at $50^{\circ} \mathrm{C}$.

For the underlined phrase or sentence, choose the revision that most improves the writing. A single green tear drops from one eye. $\underline{\text{This poignant design is often reprinted.}}$ A. As a result, this poignant design is often reprinted. B. Because this poignant design beautifully reflects the book's content, it is often reprinted on modern editions. C. Cugat often reprints this poignant design. D. Correct as is

What’s the relationship between the design of a manufacturing process and the firm’s strategic competitive dimensions ?

The following situations describe decision scenarios that could use managerial accounting information:

1. The manager of High Times Restaurant wants to determine the price to charge for various lunch plates.
2. By evaluating the cost of leftover materials, the plant manager of a precision tool facility wants to determine how effectively the plant is being run.
3. The division controller of West Coast Supplies needs to determine the cost of products left in inventory.
4. The manager of the Maintenance Department of a large manufacturing company wants to plan next year's anticipated expenditures.

For each situation, discuss how managerial accounting information could be used.

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

Indicate whether each of the following statements concerning diabetes and the chemical monitoring of this condition is true or false. a. Diabetes results from having too much insulin in the blood. b. The inability of the body to properly use insulin once it is produced is a cause of diabetes. c. High levels of glucose in urine is a sign of diabetes. d. Modern glucose-monitoring systems directly measure the amount of glucose in the blood.