Lecture 18 Handout By Jw Van Zee 19 Sep 17 Problem 42 Statem

Lecture18handout Byjwvanzee 19sep17problem42statemen

Lecture18handout Byjwvanzee 19sep17problem42statemen

Lecture # 18 Handout by J.W. Van Zee 19â€Sepâ€17 Problem 4.2. Statement: FIND: For steady flow through a heat exchanger at approximately atmospheric pressure, what tis the final temperature for the flowing: a. When 800 kJ of heat is added to 10 moles of ethylene initially at 200C Ethylene = C2H4 b. When 2,500 kJ is added to 15 moles of 1 butene initially at 260C.

1â€butene = c. When 10^6 Btu is added to 40 lb mole of ethylene initially at 500 F. Ethylene = C2H4 Known: Q, kJ= varies by part Properties: schematic: T_0, C varies by part Heat capacity coeffficents: T_0, K varies by part Heat capacity coefficients: T_0, K varies by part T=? n, moles= varies by part A 1.424 1.967 B 1.44Eâ€02 3.16Eâ€02 Assumptoins: none C â€4.39Eâ€06 â€9.87Eâ€06 D 0 0 Q varies by part Analysis: Use equation 4.7 or equaiton 4.8. Here we use equation 4.7 to intergrate the Cp/R from T0 = 200C to T . This results from an energy balance on the heat exchanger for a flow system Part c.

500 F= 533.13 K which yields 0=Q + ΔH and ΔH = H_in − H _out and where becuae of the integral: dH = CpdT. Part c. 1 btu = 1055 J Part c. 1 lb mole = 453.6 g moles Part a. n, mole = 10 Part b. n, mole = 15 Part c. n, mole = 18,144 Q, kJ = 800 Q, kJ = 2,500 Q, kJ = 1,055,040 T_in,K 473.15 solving for T_out,K T_in,K 533.15 solving for T_out,K T_in,K 533.13 solving for T_out,K T_out,K 1374.4476 T_out,K 1413.8 T_out,K 1202.746053 R, J/mol·K = 8.3143 R, J/mol·K = 8.3143 R, J/mol·K 8.3143 τ = T_out/T_in = 2. τ = T_out/T_in 2.6517 τ = T_out/T_in 2. τ = 1= 1. τ = 1.6517 τ = T_out/T_in 1= 1. τ^2= 7. τ^2= 6.0316 τ^2= 4. τ^3= 23. τ^3= 17.6457 τ^3= 10. (τ−1)/(T_inτ) 0. (τ−1)/(T_inτ) 0.0012 (τ−1)/(T_inτ) 0.

Equation 4.7 terms Equation 4.7 terms Equation 4.7 terms AT_in(τ−1) = 1283.4 AT_in(τ−1) = 1732.2 AT_in(τ−1) = 953.5 BT_in^2(τ^2−1)/2 = 11984.7 BT_in^2(τ^2−1)/2 = 27114.3 BT_in^2(τ^2−1)/2 = 8365.6 CT_in^3(τ^3−1)/3 = −3646.17 CT_in^3(τ^3−1)/3 = −8800.63 CT_in^3(τ^3−1)/3 = −2325.36 D(τ−1)/(T_inτ) = 0 D(τ−1)/(T_inτ) = 0 D(τ−1)/(T_inτ) = 0 sum of terms= 9,622 sum of terms= 20,046 sum of terms= 6,994 Rsum of terms, J = 80,000 Rsum of terms, J = 166,667 Rsum of terms, J = 58,148 nRsum of terms, J = 800,000 nRsum of terms, J = 2,500,000 nRsum of terms, J = 1,055,040,483 f(T) = Q − nRsum of terms = 0 f(T) = Q − nRsum of terms = 0.03 f(T) = Q − nR*sum of terms= (81) use solve to find this value of T_out in K= 1374 use solve to find this value of T_out in K= 1414 use solve to find this value of T_out in K= 1203 E3-19A (book/static) During 2016, Nicholson Network, Inc., which designs network servers, earned revenues of $ 800 million.

Expenses totaled $ 570 million. Nicholson collected all but $ 21million of the revenues and paid $ 600 million on its expenses. Nicholson's top managers are evaluating 2016, and they ask you the following questions: a. Under accrual accounting, what amount of revenue should Nicholson Network report for 2016? How does the revenue principle help to answer these questions? b. Under accrual accounting, what amount of total expense should Nicholson Network report for 2016? Which accounting principle helps to answer this question? c. Redo parts a and b using the cash basis. Explain how the accrual basis differs from the cash basis. d. Which financial statement reports revenues and expenses? Which statement reports cash receipts and cash payments? Requirement a. Under accrual accounting, what amount of revenue should Nicholson Network report for 2016? How does the revenue principle help to answer these questions? The amount of revenue that should be reported for the year is $_______________ Million.

The revenue principle says to record revenue when it has been ____________  collected earned recorded , regardless of when ___________  cash is collected revenue is earned sold inventory is delivered . Therefore, the amount of revenue reported is what Nicholson ____________.  collected earned paid E3-22A (book/static) Dellroy Rentals Company faced the following situations. A. The business has interest expense of $ 3,200 that it must pay early in January 2017 B. Interest revenue of $4,100 has been earned but not yet received.

C. On July 1, 2016, when the business collected $12,000 rent in advance, it debited Cash and credited Unearned Rent Revenue. The tenant was paying for two years' rent. D. Salary expense is $6,100 per daylong dash Monday through Friday long dash and the business pays employees each Friday.

For the purpose of this calculation, assume December 31 falls on a Thursday. E. The unadjusted balance of the Supplies account is $3,200. The total cost of supplies on hand is $ 1,300. F.

Equipment was purchased on January 1 of this year at a cost of $180,000 The equipment's useful life is five years. There is no residual value. Record depreciation for this year and then determine the equipment's book value. Requirement 1. Journalize the adjusting entry needed at December 31, 2016. for each situation.

Consider each fact separately. (Record debits first, then credits. Exclude explanations from any journal entries.) a. The business has interest expense of $ 3,200 that it must pay early in January 2017. . Journal Entry Accounts Debit Credit a. E3-24A (book/static) The adjusted trial balance of Honeybell, Inc., follows.

Honeybell, Inc. Adjusted Trial Balance December 31, 2016 (Amounts in thousands) Account Debit Credit Cash $3,900 Accounts receivable 1,400 Inventories 2,200 Prepaid expenses 1,800 Property, plant, and equipment 16,700 Accumulated depreciation-property, plant, and equipment $2,800 Other assets 9,500 Accounts payable 7,400 Income tax payable 400 Other liabilities 2,500 Common stock 14,600 Retained earnings (beginning, December 31, ,900 Dividends 1,300 Sales revenue 41,200 Cost of goods sold 25,500 Selling, administrative, and general expenses 10,500 Income tax expense 2,000 Total $74,800 $74,800 Requirement 1. Prepare Honeybell, Inc.'s single-step income statement and statement of retained earnings for the year ended December​ 31, 2016, and its balance sheet on that date. Let's start by completing the single step income statement. (If a box is not used in the income statement leave the box empty; do not select a label or enter a zero.) Honeybell, Inc.

Income Statement Year Ended December 31, 2016 Thousands Revenues: $ Expenses: --------------- $ E3-25A (book/static) The adjusted trial balances of Victory Corporation at August 31, 2016, and August 31, 2015, include these amounts (in millions): Receivables . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $470 $290 Prepaid insurance . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Accrued liabilities payable (for other operating expenses) . . . Victory Corporation complete these transactions (in millions) during the year ended August 31, 2016. Victory completed these transactions (in millions) during the year ended August 31, 2016 .

Collections from customers . . . . . . . . . . . . . . . . . $20,800 Payment of prepaid insurance . . . . . . . . . . . . . . . . 460 Cash payments for other operating expenses . . . 4,600 Requirement Compute the amount of sales revenue, insurance expense, and other operating expenses to report on the income statement for the year ended August 31, 2016. The sales revenue for the year ended August 31, 2016 is $ E3-28A (book/static) The unadjusted trial balance and income statement amounts from the December 31 adjusted trial balance of Winwood Production Company follow. Winwood Production Company Unadjusted From the Adjusted Account Trial Balance Trial Balance Cash 13,300 Prepaid rent 1,600 Equipment 45,000 Accumulated depreciation-equipment 3,300 Accounts payable 4,900 Salary payable Unearned service revenue 9,200 Income tax payable Notes payable, long-term 16,000 Common stock 8,400 Retained earnings 11,400 Dividends 1,300 Service revenue 13,900 Salary expense 4,200 Rent expense 1,900 Depreciation expense-equipment 400 Income tax expense 1,200 Total 66,,,,900 Journal Entry Date Accounts Debit Credit Dec 31 Unearned Service Revenue 6,300 Service Revenue 6,300 Dec 31 Salary Expense 700 Salary Payable 700 Dec 31 Rent Expense 800 Prepaid Rent 800 Dec 31 Depreciation Expense 400 Accumulated Depreciation—Equipment 400 Dec 31 Income Tax Expense 1,200 Income Tax Payable 1,200 Requirement 1.

Use the data in the partial worksheet to prepare Winwood Production Company's classified balance sheet at December 31 of the current year. Use the report format. First you must compute the adjusted balance for several of the balance-sheet accounts 2. Compute Winwood Production Company's net working capital, current ratio, and debt ratio at December 31. A year ago, net working capital was $ 3,900, the current ratio was 1.40, and the debt ratio was 0.64.

Indicate whether the company's ability to pay its debts long dash both current and total long dash improved or deteriorated during the current year. Requirement 1. Use the data in the partial worksheet to prepare Winwood Production Company’s classified balance sheet at December 31 of the current year. Use the report format. First you must compute the adjusted balance for several of the balance-sheet accounts.

Let's prepare the balance sheet for Winwood Production Company. (If a box is not used in the balance sheet leave the box empty; do not select a label or enter a zero.) Winwood Production Company Balance Sheet December 31 Assets Less: E2-18A (book/static) The following selected events were experienced by either Knox Eldercare Services, Inc., a corporation, or Steve Knox, the major stockholder. a. Sold land and received cash of $69,000 (the land was carried on the company's books at $69,000). b. Received $15,400 cash from customers on account. c. Made cash purchase of land for a building site for the business, $89,000. d. Borrowed $62,000 from the bank for use in the business. e.

Knox used personal funds to purchase a flat-screen TV for his home. f. Purchased medical equipment and signed a $90,000 promissory note in payment. g. Purchased office supplies on account for $1,200. h. Received $12,000 cash and issued stock to a stockholder. i. Paid $400 cash on accounts payable. j.

The business paid Knox a cash dividend of $4,000. Requirement 1. State whether each event (1) increased, (2) decreased, or (3) had no effect on the total assets of the business. Identify any specific asset affected. State whether each event (1) increased, (2) decreased, or (3) had no effect on the total assets of the business.

Identify any specific asset affected. If no effect, indicate the reason. Account affected or why Trans. Asset effect assets are not affected a. E2-22A (book/static) The first seven transactions of Fournier Advertising, Inc., have been posted to the company's accounts: Cash Supplies Land Equipment (,,,,,,,700 Accounts Payable Note Payable Common Stock (,,,,,000 Requirement 1.

Prepare the journal entries that served as the sources for the seven transactions. Include an explanation for each entry. As Fournier moves into the next period, how much cash does the business have? How much does Fournier owe in total liabilities? Begin by recording the journal entries; start with transaction (1). (Record debits first, then credits.

Select the explanation on the last line of the journal entry table.) Journal Entry Accounts and Explanations Debit Credit 1. -------------- -------------- E2-23A (book/static) The accounts of Custom Patio Service, Inc., follow with their normal balances at April 30, 2016 . The accounts are listed in no particular order. Account Balance Account Balance Dividends . . . . . . . . . . . . . . . . . . . $3,400 Common stock . . . . . . . . . . $16,800 Utilities expense . . . . . . . . . . . . . 2,200 Accounts payable . . . . . . . 4,900 Accounts receivable . . . . . . . . . .

5,100 Service revenue . . . . . . . . . 21,100 Delivery expense . . . . . . . . . . . . 600 Equipment . . . . . . . . . . . . . 30,400 Retained earnings . . . . . . . . . . . . 2,400 Note payable . . . . . . . . . . .

24,000 Salary expense . . . . . . . . . . . . . . 8,800 Cash . . . . . . . . . . . . . . . . . . 18,700 Read the requirements 1) Prepare the company's trial balance at April 30, 2016, listing accounts in proper sequence. For example, Accounts Receivable comes before Equipment. List the expense with the largest balance first, the expense with the next largest balance second, and so on.

2) Prepare the financial statement for the month ended April 30, 2016, that will tell the company the results of operations for the month. Requirement 1. Prepare the company's trial balance at April 30, 2016, listing accounts in proper sequence. For example, Accounts Receivable comes before Equipment. List the expense with the largest balance first, the expense with the next largest balance second, and so on.

Select the accounts that will be listed on the trial balance; enter the account balances and finally total the debits and credits. Remember to list the accounts in the proper sequence; assets first, then liabilities followed by stockholders' equity (including revenue and expense accounts). List the expenses last with the largest balance first, the expense with the next largest balance second, and so on. Custom Patio Service, Inc. Trial Balance April 30, 2016 Account Debit Credit Total --------------- E2-24A (book/static) The trial balance of Harper, Inc., at September 30, 2016 does not balance: Cash . . . . . . . . . . . . . . . . . . . . . . . . $14,500 Accounts receivable . . . . . . . . . . . . .

12,600 Inventory . . . . . .