Sunday, 27 May 2012

Tips for Effective Study


Tips for Effective Study


Do you know how to organize and regulate the study time? Do you know how to squeeze everything from  that time you spend reading you spend reading the several books. This section contains some valuable hits about the “how and why” of studying. Learn the hints and use them; you’ll be pleasantly surprised with upgraded study efficiency.
 
A DEFINITE TIME
Set a specific time in your daily schedule, which shall be known and observed as you official study period. Also set a minimum and realistic maximum amount of time to be spent in study. Deeply observe these limits.

You can never truthfully say that the teacher didn’t make a specific assignment for next class, so there is not much to study. If there is no assignment for the following class meeting use your study time for a good review. Then you won’t have to cram your next big test.
You can’t afford to allow non-study activities to take any part of your study period. Tell your friends not to call or come by for a visit during your study hours. Don’t receive telephone; leave instructions that you are not home.

How much time you will need? You’ll be able to determine this shortly after your short courses. Of course, the total time you will need will be determined by the number and type of courses and your own study efficiency. However, the college catalogs mention the fact that one semester’s credit should require two hours of preparation weekly. This means that a three hour course should get six hours of outside study each week.

A DEFINITE PLACE

Where should you study? Any place- a desk in your room, a kitchen table where you can be reasonably comfortable and away from the main stream of activity in your home office or dormitory, Get away from the television set, children and home mates.

It is important that the spot you select be one which you normally do not use expect for study. If it’s the table where you play cards, it’s very easy to think about the last game there rather than about what you’re trying to study.

STUDY PROPS

You use specific item for a bath-soap, towels, etc. as a matter of fact, if you don’t use the right things, your bath won’t be good one same is true for study. Use a desk or table of adequate size and height. And time is most important thing, clear it of everything expect the actual books or materials you require to study properly that one particular subject you are working on. You can’t concentrate very well on writing for English class if you have in front of you a math book with 20 problems awaiting for you, and half a dozen other tasks and assignments. Work and worry only about what you have inform of your at the moment. The other subjects can be taken care giving it your full attention.

Sit in a straight chair, not one which is too comfortable-unless you plan to snooze.

LIGHT AND TEMPERATURE

Have a good light on your desk. The rest of the other room should be lighted very softly. With a soft light in the background, distant object-paintings, wallpaper, statues, etc-won’t have too much chance of stealing your attention.

The temperature should be a degree or so cooler than normal. You likely will become sleepy if the room is too warm. Arrange for some fresh air circulation if possible.

DURATION OF STUDY

How long can you study effectively in one sitting? It depends on many factors, but is relatively safe to say that 30 to 45 minutes is about the maximum you can study without taking a break, whether scheduled or not. So, it is wise to schedule a five-minute break about every half to three quarter hour.

When you do break, get completely away from you work, both physically and mentally. Take a walk through or around the house. Get a drink of water or a glass of milk. Reward yourself.

After five minutes, you’ll return to your study mentally and physically refreshed. This study break habit can enable you to study for longer periods of time with the minimum amount of fatigue and maximum efficiency. For study just try it and see the difference.

Friday, 25 May 2012

Answer the following questions. (Hint: Use the accounting equation.) (Omit the "$" sign in your response.) a. Office Mart has assets equal to $123,000 and liabilities equal to $53,000 at year-end. What is the total equity for Office Mart at year-end?

Answer the following questions. (Hint: Use the accounting equation.) (Omit the "$" sign in your response.)
a.
Office Mart has assets equal to $123,000 and liabilities equal to $53,000 at year-end. What is the total equity for Office Mart at year-end?
  
  Total equity $   


Explanation:

Thursday, 24 May 2012

When Patey Pontoons issued 7.00% bonds on January 1, 2011, with a face amount of $490,000, the market yield for bonds of similar risk and maturity was 8.00%. The bonds mature December 31, 2014 (4 years). Interest is paid semiannually on June 30 and December 31. (Use Table 2 and Table 4) Required:


When Patey Pontoons issued 7.00% bonds on January 1, 2011, with a face amount of $490,000, the
market yield for bonds of similar risk and maturity was 8.00%. The bonds mature December 31, 2014 (4
years). Interest is paid semiannually on June 30 and December 31. (Use Table 2 and Table 4)
Required:
(1) Determine the price of the bonds at January 1, 2011. (Do not round PV factors. Round final answer
to the nearest dollar amount. Omit the "$" sign in your response.)
Price of the bonds $ 473,505
(2) Prepare the journal entry to record their issuance by Patey on January 1, 2011. (Do not round PV
factors. Round final answer to the nearest dollar amount. Omit the "$" sign in your response.)
Date General Journal Debit Credit
Jan. 1 Cash 473,505
Discount on bonds 16,495
Bonds payable 490,000
(3) Prepare an amortization schedule that determines interest at the effective rate each period. (Do not
round PV factors. Round final answer to the nearest dollar amount. Omit the "$" sign in your
response.)
Cash Effective Increase in Outstanding
Payment Interest Balance Balance
473,505
1 17,150 18,940 1,790 475,295
2 17,150 19,012 1,862 477,157
3 17,150 19,086 1,936 479,093
4 17,150 19,164 2,014 481,107
5 17,150 19,244 2,094 483,201
6 17,150 19,328 2,178 485,379
7 17,150 19,415 2,265 487,644
8 17,150 19,506 2,356 490,000
137,200 153,695 16,495
(4) Prepare the journal entry to record interest on June 30, 2011. (Do not round PV factors. Round final
answer to the nearest dollar amount. Omit the "$" sign in your response.)
Date General Journal Debit Credit
June 30 Interest expense 18,940
Discount on bonds payable 1,790
Cash 17,150
(5) What is the amount related to the bonds that Patey will report in its balance sheet at December 31,
2011? (Do not round PV factors. Round final answer to the nearest dollar amount. Omit the "$"
sign in your response.)
December 31, 2011 net liability $ 477,157
(6) What is the amount related to the bonds that Patey will report in its income statement for the year
ended December 31, 2011? (Ignore income taxes.) (Do not round PV factors. Round final answer to
the nearest dollar amount. Omit the "$" sign in your response.)
Interest expense for 2011 $ 37,952
(7) Prepare the appropriate journal entries at maturity on December 31, 2014. (Do not round PV factors.
Round final answer to the nearest dollar amount. Omit the "$" sign in your response.)
Date General Journal Debit Credit
Dec. 31 Interest expense 19,506
Discount on bonds payable 2,356
Cash 17,150
Dec. 31 Bonds payable 490,000
Cash 490,000
rev: 12_13_2011
Explanation:
(1)
Price of the bonds at January 1, 2011
Interest $17,150¥× 6.73274* = $ 115,467
Principal $490,000× 0.73069** = 358,038
Present value (price) of the bonds $ 473,505
¥ 3.500% × $490,000
*present value of an ordinary annuity of $1: n = 8, i = 4.000% (Table 4)
**present value of $1: n = 8, i = 4.000% (Table 2)
(3)
Cash
Payment
Effective
Interest
Increase in
Balance
Outstanding
Balance
3.500% × Face
Amount 4.000% × Outstanding Balance Discount
Reduction
473,505
1 17,150 0.040 (473,505) = 18,940 1,790 475,295
2 17,150 0.040 (475,295) = 19,012 1,862 477,157
3 17,150 0.040 (477,157) = 19,086 1,936 479,093
4 17,150 0.040 (479,093) = 19,164 2,014 481,107
5 17,150 0.040 (481,107) = 19,244 2,094 483,201
17,150 0.040 (483,201) = 19,328 2,178 485,379
7 17,150 0.040 (485,379) = 19,415 2,265 487,644
8 17,150 0.040 (487,644) = 19,506* 2,356 490,000
137,200 153,695 16,495
*rounded
(4)
Interest expense (4.000% × $473,505) = 18,940
Cash (3.500% × $490,000) = 17,150
(5)
Bonds payable $ 490,000
Less: discount (16,495)
Initial balance, January 1, 2011 $ 473,505
June 30, 2011 discount amortization 1,790
Dec. 31, 2011 discount amortization 1,862
December 31, 2011 net liability $ 477,157
(6)
June 30, 2011 interest expense $ 18,940
Dec. 31, 2011 interest expense 19,012
Interest expense for 2011 $ 37,952
(7)
Interest expense (4.000% × 487,644) = 19,506*
* rounded value from amortization schedule
Cash (3.500% × $490,000) = 17,150
National

Universal Foods issued 10% bonds, dated January 1, with a face amount of $140 million on January 1,


Universal Foods issued 10% bonds, dated January 1, with a face amount of $140 million on January 1,
2011. The bonds mature on December 31, 2025 (15 years). The market rate of interest for similar issues
was 12%. Interest is paid semiannually on June 30 and December 31. Universal uses the straightline
method. Use (Table 2) and (Table 4)
Required:
(1) Determine the price of the bonds at January 1, 2011. (Enter your answer in dollars not in millions.
Round "PV Factor" to 5 decimal places and final answer to the nearest dollar amount. Omit the
"$" sign in your response.)
Price of the bonds
$
120,729,210 ± 0.01%
(2) Prepare the journal entry to record their issuance by Universal Foods on January 1, 2011. (Enter your
answers in dollars not in millions. Round "PV Factor" to 5 decimal places and final answers to
the nearest dollar amount. Omit the "$" sign in your response.)
Date General Journal Debit Credit
Jan. 1, 2011 Cash 120,729,210 ± 0.01%
Discount on bonds payable 19,270,790 ± 0.01
Bonds payable 140,000,000 ± 0.01%
(3) Prepare the journal entry to record interest on June 30, 2011. (Enter your answers in dollars not in
millions. Round "PV Factor" to 5 decimal places and final answers to the nearest dollar amount.
Omit the "$" sign in your response.)
Date General Journal Debit Credit
June 30,
2011 Interest expense 7,642,360 ± 0.01%
Discount on bonds payable 642,360 ± 0 . 1%
Cash 7,000,000 ± 0.01%
(4) Prepare the journal entry to record interest on December 31, 2018. (Enter your answers in dollars not
in millions. Round "PV Factor" to 5 decimal places and final answers to the nearest dollar
amount. Omit the "$" sign in your response.)
Date General Journal Debit Credit
Dec. 31,
2018 Interest expense 7,642,360 ± 0.01%
Discount on bonds payable 642,360 ± 0 . 1%
Cash 7,000,000 ± 0.01%
Explanation:
(1) Price of the bonds at January 1, 2011
Interest $ 7,000,000 ¥ × 13.76483* = $ 96,353,810
Principal $140,000,000 × .17411** = 24,375,400
Present value (price) of the bonds $ 120,729,210
¥ 5% × $140,000,000
* present value of an ordinary annuity of $1: n = 30, i = 6% (Table 4)
** present value of $1: n = 30, i = 6% (Table 2)
(3) June 30, 2011
Interest expense ($7,000,000 + $642,360) = 7,642,360
Discount on bonds payable ($19,270,790 ÷ 30) = 642,360
Cash (5% × $140,000,000) = 7,000,000
(4) December 31, 2018
Interest expense ($7,000,000 + $642,360) = 7,642,360
Discount on bonds payable ($19,270,790 ÷ 30) = 642,360
Cash (5% × $140,000,000) = 7,000,000
[Using the straightline method, each interest entry is the same.]

The Bradford Company sold 10% bonds, dated January 1, with a face amount of $75 million on January 1, 2011 to Saxton Bose Corporation. The bonds mature in 2020 (10 years). For bonds of similar risk and maturity, the market yield is 12%. Interest is paid semiannually on June 30 and December 31. Use (Table 2) and (Table 4)


The Bradford Company sold 10% bonds, dated January 1, with a face amount of $75 million on January 1,
2011 to Saxton Bose Corporation. The bonds mature in 2020 (10 years). For bonds of similar risk and
maturity, the market yield is 12%. Interest is paid semiannually on June 30 and December 31.
Use (Table 2) and (Table 4)
Required:
(1) Prepare the journal entry to record the purchase of the bonds by SaxtonBose
on January 1, 2011.
(Enter your answers in dollars not in millions. Round "PV Factor" to 5 decimal places andfinal
answers to the nearest whole dollar amount. Omit the "$" sign in your response.)
Date General Journal Debit Credit
Jan 1,
2011 Bond investment 75,000,000 ± 0.01%
Discount on bond investment 8,602,800 ± 0.01%
Cash 66,397,200 ± 0.01%
(2) Prepare the journal entry to record interest revenue on June 30, 2011 (at the effective rate). (Enter your
answers in dollars not in millions. Round "PV Factor" to 5 decimal places andfinal answers to
the nearest whole dollar amount. Omit the "$" sign in your response.)
Date General Journal Debit Credit
June 30,
2011 Cash 3,750,000 ± 0 .01%
Discount on bond investment 233,832 ± 0 . 01%
Interest revenue 3,983,832 ± 0.01%
(3) Prepare the journal entry to record interest revenue on December 31, 2011 (at the effective rate). (Enter
your answers in dollars not in millions. Round "PV Factor" to 5 decimal places andfinal answers
to the nearest whole dollar amount. Omit the "$" sign in your response.)
Date General Journal Debit Credit
Dec. 31,
2011 Cash 3,750,000 ± 0 .01%
Discount on bond investment 247,862 ± 0 . 0 1%
Interest revenue 3,997,862 ± 0.01%
Explanation:
(1) January 1, 2011
Interest $ 3,750,000 ¥ × 11.46992* = $ 43,012,200
Principal $ 75,000,000 × .31180** = 23,385,000
Present value (price) of the bonds $ 66,397,200
¥ 5% × $75,000,000
* present value of an ordinary annuity of $1: n = 20, i = 6% (Table 4)
** present value of $1: n = 20, i = 6% (Table 2)
(2) June 30, 2011
Cash (5% × $75,000,000) = 3,750,000
Interest revenue (6% × $66,397,200) = 3,983,832
(3) December 31, 2011
Cash (5% × $75,000,000) = 3,750,000
Interest revenue (6% × [$66,397,200 + 233,832]) = 3,997,862