One Network Juggernaut (“ONJ") was formed by Bill and Jim during 2019. The purpose of the business is to provide local news and sports coverage to rural areas. ONJ plans
to offer daily online local news and live streaming of local sports contests free of charge. Bill and Jim expect ONJ to make a profit by charging for advertising. Bill and Jim agreed that Bill will own 60% of the business and Jim will own 40%. Bill contributed $3,000 of cash and Jim contributed $2,000 of cash to form the business on April 27,2019. ONJ is organized as a Limited Liability Company. ONJ paid $100 of legal fees to Henry in April of 2019. Henry serves as legal counsel to ONJ and drafted the organizational documents of the business. In July of 2019, ONJ hired Doug as operations manager for a monthly salary of $200. Doug's employment began on July 1, 2019. In September of 2019, ONJ borrowed $25,000 from the Bank of Choice. The terms of the loan provide for an annual interest rate of 6% beginning on September 1, 2019. Interest payments are to be made every six months, and principal payments of $5,000 are to be made on September 1of each of the next five years. ONJ purchased server equipment in October of 2019 for $24,000. The equipment was delivered and installed on November 2, 2019. ONJ began using the server on December 1, 2019. Doug estimates that the server has a useful life of five years and will have no value after this time.Doug believes that the server will decline in value evenly over time. The first daily local news was produced and made available online on December 4, 2019. Since this date, local news has been made available daily, and local sports contests have been streamed live. The ONJ business plan is to grow an online viewership for three months before selling advertising. On October 31, 2019, ONJ and the Bank of Choice agreed that the bank would have exclusive advertising rights for December of 2019 through February of 2020, its first three months of operations. Advertising on the online news site and during live streamed sports contests will begin for all other advertisers on March 1, 2020. The bank paid $120 to ONJ for the exclusive advertising for the entire three-month period on November 2, 2019. Beginning March 1, 2020, ONJ sold advertising for six months for a total of $3,600. $1,800 was paid at the time of sale, $900 was paid at the end of the first month, and the remaining $900 at the end of the third month. The local sports contests became very popular with viewers during the summer of 2020. Bill and Doug decided to make recordings of the sporting events available for purchase. During August of 2020, ONJ paid $800 for 100 USB drives with recordings of the most popular summer sporting events. ONJ made them available for purchase at $10 each, and all 100 were sold by the end of September of 2020. All customers made their purchases in cash. Also in August of 2020, ONJ made more advertising sales. Customers purchased $3,500 of advertising for the next five months. This five-month period is September of 2020 through January of 2021. The customers agreed to pay $700 at the beginning of each of the five months beginning September 1, 2020. Bill decided to get additional USB drives of the summer of 2020 sporting events and make them available for sale to customers. ONJ purchased 200 USB drives for $1,500 in October of 2020for cash. During October, November, and December of 2020, 120 of the USB drives had been sold to customers for $12 each. Customers paid cash for 40 of the USB drives, while the other 80 were sold on credit. As of December 31, 2020, ONJ had received payment from 30 of the customers who purchased their USB drive on credit. As of December 31, 2020, there were 80 USB drives remaining on hand. ONJ has not yet prepared any financial reports. ONJ hired Flo as chief financial officer to oversee financial reporting. Flo would like for financial reports to be prepared on an annual basis each calendar year. Flo has some bookkeeping experience, but she has never prepared any financial statements. She-doesn't like complicated calculations, and her desire is to keep the financial records as simple as possible. Doug supports this approach, and Bill and Jim approve. 1) Costs that benefit future periods will not be immediately expensed. 2) Any cost that is not immediately expensed will be expensed evenly over the course of its expected benefit. 3) The cost of any goods that are sold to customers will be determined at the end of the year after a count of the any goods remaining on hand. 4) The goods purchased or produced the earliest will be treated as sold first.
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Most Viewed Questions Of Fluid Mechanics
From Gerhart Flow of a viscous fluid over a flat plate surface results in the development of a region of reduced velocity adjacent to the wetted surface as depicted in Fig. P5.25. This region of reduced flow is called a boundary layer. At the leading edge of the plate, the velocity profile may be considered uniformly distributed with a value U. All along the outer edge of the boundary layer, the fluid velocity component parallel to the plate surface is also U. If the x-direction velocity profile at section(2) is \frac{u}{U}=\frac{3}{2}\left(\frac{y}{\delta}\right)-\frac{1}{2}\left(\frac{y}{\delta}\right)^{3} develop an expression for the volume flow rate through the edge of the boundary layer from the leading edge to a location downstream at x where the boundary layer thickness is 6.Figure P5.25 1) 5.25 – assume a width 'l' into the paper
5) 5.63 Water is sprayed radially outward over 180° as indicated in Fig. P5.67. The jet sheet is in the horizontal plane. If the jet velocity at the nozzle exit is 20 ft/s, determine the direction and magnitude of the resultant horizontal anchoring force required to hold the nozzle in place.
Fluids of viscosities µ ₁ = 0.1 N.s/m² and µ ₂ =0.15 N.s/m² are contained between two plates(each plate is 1 m² in area). The thicknesses are h₁ = 0.5 mm and h₂ = 0.3 mm, respectively.Find the force F to make the upper plate move at a speed of 1 m/s. What is the fluid velocity at the interface between the two fluids?
A tank, which is open to the atmosphere, is filled with water to a level h and allowed to drain through an orifice at the bottom, as shown in the figure below. The cross-sectional area of the tank is At and the cross-sectional area of the orifice is Ag. Assume that the cross-sectional area of the tank is much greater than the cross-sectional area of the orifice (AT>>Ao) and that the exit losses are negligible. 6) Use Reynolds Transport Theorem to derive an expression for the variation of h with time as a function of velocity at the outlet.
*5-96. Determine the power delivered to the turbine if the water exits the 400-mm-diameter pipeat 8 m/s. Draw the energy and hydraulic grade lines for the pipe using a datum at point C.Neglect all losses.
3) 5.45 Determine the magnitude and direction of the anchoring force needed to hold the horizontal elbow and nozzle combination shown in Fig. P5.47 in place. Atmospheric pressure is 100 kPa(abs). The gage pressure at section (1) is 100 kPa. At section (2), the water exits to the atmosphere.
Launch Meeting-Zoum5-111. A fire truck supplies 150 gal/min of water to the third story of a building at B. If the frictionloss through the 60-ft-long, 2.5-In.-diameter hose is 12 ft for every 100 ft of hose, determine therequired pressure developed at the outlet A of the pump located within the truck close to theground. Also, what is the average velocity of the water as it is ejected through a 1.25-in.-diameter nozzle at B?
10) A conveyor belt discharges gravel onto a barge at a rate of 50 yd/min. If the gravel weighs 120 Ibf/ft^3, what is the tension in the hawser that secures the barge to the dock?
Given: An inward flow radial turbine involves a nozzle angle, a₁, of 60° and an inlet rotor tip speed, U₁, of 6 m/s.The ratio of rotor inlet to outlet diameters is 2.0. The absolute velocity leaving the rotor at section (2) is radial with a magnitude of 12 m/s. Find: The power transfer per unit of mass of fluid flowing through this turbine.Ws/m
10.2-39 The following vapor-liquid equilibrium data havebeen reported' for the system water (1) + 1,4-dioxane (2) at 323.15 K. Compute the activity coefficients for thissystem at each of the reported compositions.a. b. Are these data thermodynamically consistent? c. Plot the excess Gibbs energy for this system asa function of composition.
