Notes Receivables

NOTES RECEIVABLE * Represents claims for which formal instruments of credit are issued as evidence of debt, such as promissory note. The credit instrument normally requires the debtor to pay interest and extends for time periods of 30 days or longer. Notes receivables are considered current asset if they are to be paid within 1 year and non- current if they are expected to be paid after one year. NEGOTIABLE PROMISSORY NOTES * Unconditional promise in writing made by one person to another, signed by the maker, engaging to pay in demand or at the fixed determinable future time a sum certain in money to order or to bearer.An entity owned a tract of land costing P 800,000 and sold the land for P1,000,000. On January 1, 2011 the entity received a 1- year note for 1,000,000 plus interest of 12% compounded annually. Journal Entry: First year: Note receivable1,000,000 Land800,000 Gain on sale of land200,000 # DISHONORED NOTES * Promissory note matures and is not paid. * When the maker of a n ote fails to pay on the due date, the note receivable is considered to be dishonored. A dishonored note is no longer negotiable. Journal Entry: 2012 Jan. 1 Accounts receivable1,120,000 Notes receivable 1,000,000Interest income 120,000 # INITIAL MEASUREMENT * Conceptually, notes receivable shall be measured initially at PRESENT VALUE. * However, SHORT TERM NOTES are measured at FACE VALUE. * The initial measurements of LONG TERM NOTES will depend on whether the notes are INTEREST- BEARING or NONINTEREST- BEARING. INTEREST- BEARING LONG TERM NOTES are measured at FACE VALUE which is actually the present value upon issuance. NONINTEREST- BEARING LONG TERM NOTES are measured at PRESENT VALUE which is the discounted value of the future cash flow using the effective interest rate. SUBSEQUENT MEASUREMENTAmortized Cost * the amount at which the note receivable is measured initially minus principal repayment, plus or minus the cumulative amortization of any difference between the initial car rying amount and the principal maturity amount minus reduction for impairment or uncollectibility. For long-term noninterest-bearing notes: Amortized Cost = present value + amortization of the discount Or Amortized Cost = face value – unamortized unearned interest income Accordingly, only long-term notes receivable will be discussed in conjunction with the present value concept under the following situations: . interest-bearing note b. noninterest bearing note Problem 7-2 â€Å"FATHOM COMPANY† (INTEREST- BEARING NOTE) 2011 Jan. 1Cash1,000,000 Notes Receivable6,000,000 Land5,000,000 Gain on sale of land2,000,000 # Dec. 31 Accrued Interest Receivable720,000 Interest Income720,000 (6,000,000 x 12%) # 2012 Dec 31 Accrued Interest Receivable806,400 Interest Income806,400 # 6,000,000| +| 720,000| =| 6,720,000| | | | *| 12%| | | | | 806,400| 2013 Jan. 1Cash7,526,400 Notes Receivable6,000,000 Accrued Interest Receivable? 1,526,400 #Accrued interest receivable? 2011| | | 720,00 0| 2012| | | 806,400| | | | 1,526,400| Problem 7-3 â€Å"BUG COMPANY† (NONINTEREST- BEARING NOTE 1) 2010 Jan. 1Note receivable600,000 Sales540,000 Unearned interest income 60,000 # DATE| NOTES RECEIVABLE BALANCE| FRACTION| INTEREST INCOME| Dec. 31, 2010| 600,000| 1/2| 30,000| Dec. 31, 2011| 400,000| 1/3| 20,000| Dec. 31, 2012| 200,000| 1/6| 10,000| | 1,200,00| | | Dec. 31Cash200,000 Notes receivable200,000 # Unearned interest income30,000 Interest income30,000 # 2011 Dec. 31Cash200,000Notes receivable200,000 # Unearned interest income20,000 Interest income20,000 # 2012 Dec. 31Cash200,000 Note receivable200,000 # Unearned interest income10,000 Interest income10,000 # PROBLEM 7-4 â€Å"IMPRESS COMPANY† (NONINTEREST- BEARING NOTE 2) 2010 Jan. 1Cash100,000 Note receivable900,000 Sale? 820,540 Unearned interest income? 179,460 # Face value900,000 Present value (300,000*2. 4018)720540 Unearned interest income? 179,460 Present value720,540 Cash received100,000 Sales price? 82 0,540DATE| ANNUAL COLLECTION| INTEREST INCOME| PRINCIPAL| CARRYING AMOUNT| Jan. 1, 2010| | | | 720,540| Dec. 31,2010| 300,000| 86,465| 213,535| 507,005| Dec. 31,2011| 300,000| 60,841| 239,159| 267,846| Dec. 31,2012| 300,000| 32,154| 267,846| ? | Dec. 31Cash300,000 Unearned interest income 86,465 Note receivable300,000 Interest income 86,465 # 2011 Dec. 31Cash300,000 Unearned interest income 60,841 Note receivable300,000 Interest income 60,841 # 2012 Dec. 31Cash300,000 Unearned interest income 32,154 Note receivable300,000 Interest income 32,154 #

Graded Assignment South Carolina Secedes Essay

The following question asks you to write a clear essay that analyzes South Carolina’s reasons for seceding from the Union. Use both the documents listed on next two pages and your knowledge of the time period. You may also use the time line you previously completed. (100 points) 1. What were South Carolina’s stated reasons for seceding from the United States in December, 1860? Do you believe that the stated reasons were the complete explanation for South Carolina’s secession? Was South Carolina justified in seceding? Explain your answer in a well-organized essay that demonstrates your understanding of the documents and your knowledge of the time period.  Answer: In my opinion, South Carolina only has one reason for seceding from the United States. South Carolina wrote down all of their reasons why for succeeding. Although, I believe that their reasons were not complete or had enough â€Å"good† reasoning. South Carolina only had one really good reason for seceding. I believe South Carolina did not have enough powerful reasons for seceding. Throughout South Carolina’s Secession, They mainly discussed the Government and how the United States takes care of us. They also discussed what they don’t like about the United States Government. South Carolina also talked about the mistakes and feelings they had about the United States Constitution. This proves they only had one reason for seceding. In excerpt one and two below, South Carolina starts talking about freedom and the rights United States had at that time. In excerpt two, it states; â€Å"An amendment was added [to the United States Constitution], which declared that the powers not delegated to the United States by the Constitution, nor prohibited by it to the States, are reserved to the States, respectively, or to the people.† This statement says that South Carolina believed they didn’t have any say in where they lived or how they ruled. In excerpt four, they continued this discussion. People from South Carolina, kept saying how they didn’t agree with the United States Constitution. They proved this statement by saying; â€Å"These ends it endeavored to accomplish by a Federal Government, in which each State was recognized as an equal, and had separate control over its own institutions.† The people of South Carolina said this like it’s a bad thing. This statement also proved that how much they didn’t agree with The United States Government. The reasons why South Carolina seceded from The United States still are not good enough reasons. I still believe they should have had more than one reason to become their own government. I believe their reasons weren’t justified reasons and the statements above proved this. South Carolina could have prove a lot more reasons to secede from the United States but they decided not to. Document A Source: Confederate States of America Declaration of the Immediate Causes Which Induce and Justify the Secession of South Carolina from the Federal Union; adopted December 24, 1860 Excerpt 1 Thus were established the two great principles asserted by the Colonies, namely: the right of a State to govern itself; and the right of a people to abolish a Government when it becomes destructive of the ends for which it was instituted. And concurrent with the establishment of these principles, was the fact that each Colony became and was recognized by the mother Country a FREE, SOVEREIGN AND INDEPENDENT STATE. Excerpt 2 †¦an amendment was added [to the United States Constitution], which declared that the powers not delegated to the United States by the Constitution, nor prohibited by it to the States, are reserved to the States, respectively, or to the people. Excerpt 3 †¦in every compact between two or more parties, the obligation is mutual; that the failure of one of the contracting parties to perform a material part of the agreement, entirely releases the obligation of the other; and that where no arbiter is provided, each party is remitted to his own judgment to determine the fact of failure, with all its consequences. Excerpt 4 The ends for which the Constitution was framed are declared by itself to be â€Å"to form a more perfect union, establish justice, insure domestic tranquility, provide for the common defence, promote the general welfare, and secure the blessings of liberty to ourselves and our posterity.† These ends it endeavored to accomplish by a Federal Government, in which each State was recognized as an equal, and had separate control over its own institutions. Excerpt 5 †¦a new policy, hostile to the South, and destructive of its beliefs and safety. Excerpt 6 We, therefore, the People of South Carolina †¦ solemnly declared that the Union heretofore existing between this State and the other States of North America, is dissolved†¦ Document B Source: Jefferson Davis’s inaugural address, February 8, 1861 â€Å"Resolved, That the maintenance inviolate of the rights of the States, and especially the right of each State to order and control its own domestic institutions according to its own judgment exclusively, is essential to that balance of power on which the perfection and endurance of our political fabric depend; and we denounce the lawless invasion by armed force of the soil of any State or Territory, no matter what pretext, as among the gravest of crimes.† Document C Source: Abraham Lincoln’s inaugural address, March 4 1861 Apprehension seems to exist among the people of the Southern States that by the accession of a Republican Administration, their property, and their peace, and personal security, are to be endangered. There has never been any reasonable cause for such apprehension. Indeed, the most ample evidence to the contrary has all the while existed, and been open to their inspection. It is found in nearly all the published speeches of him who now addresses you. I do but quote from one of those speeches when I declare that â€Å"I have no purpose, directly or indirectly, to interfere with the institution of slavery in the States where it exists. I believe I have no lawful right to do so, and I have no inclination to do so.† Those who nominated and elected me did so with full knowledge that I had made this, and many similar declarations, and had never recanted them.† Document D Source: Map of the Kansas-Nebraska Act, K12 Inc.

The Performance of Microsoft Corporation and Oracle Corporation Essay

The Performance of Microsoft Corporation and Oracle Corporation - Essay Example Oracle, on the other hand has a net income of almost half as of with Microsoft, but has shown a growth of 17% which shows the company is progressing in the right direction. Account Receivables According to the balance sheets, the accounts receivable was $14,987 million in 2011 and $15780 million in 2012. The percentage of debtors compared to total revenues were 21.42 % (14987/69943 * 100) in 2011 and again 21.40 % (15780 /73723 *100) in 2012. On the other hand, Oracle, had accounts receivable of $6,628 million in 2011 and $6377 million in 2012. This as a percentage of total revenues was 18.6 % (6628/35622 *100) in 2011 and came down to 17.18 % (6377/37121 *100) in 2012. This indicates a tightening policy and Oracle started collecting cash quickly. Hence, Oracle has shown a positive trend making a good impact on its current assets, and in case of liquidation, it receives cash faster and might be offering cash discounts in order to speedup the collection. And as for Microsoft has been consistent with its debtors policy and has not made much effort in reducing the debtors collection period. Account Payables The accounts payable of Microsoft for 2011 were $4197 million and $4175 million in 2012. For Oracle, the creditors figure was $494 million in 2011 and $438 million in 2012. The accounts payable for Oracle was significantly lower. Also calculated as a percentage of the total costs the accounts payable for Oracle were significantly lower. This indicates that Oracle pays of its creditors earlier. This might be possible so that Oracle can avail cash discounts and not keep long credit term period. Inventory Looking at the past years balance sheet, it can be concluded that both of the firms were successful in reducing their inventory level over the past...However, this is not of due importance, the respective companies have been consistent with this over the years and this will not affect our analysis. Looking at the past years balance sheet, it can be concluded that both of the firms were successful in reducing their inventory level over the past two years. Microsoft reduced their inventory level from $1,372 million in 2011 to $1,137 million in 2012. This shows a decrease in inventory level of 17% over the year. On the other hand, Oracle was able to reduce the inventory level by 48% which is almost the half from the previous year. The company’s inventory level declined from $303 million in 2011 to $158 million in 2012. The above comparison of inventory level shows that Oracle has been able to reduce its cost of holding inventory such as cost to insure, track and storage cost. An inventory shows the firm’s investment tied up in form of stock until the good is sold. It also indicates that Oracle would have a better quick ratio which is a better measure of liquidity than current ratio. This ratio excludes inventory from current ratio as it is difficult for firms to convert inventory into stock. Also, Oracle might have a better inven tory management system as they might be using just-in-time method for their inventory, where company receives inventory only when needed or they might have a better a sales forecast in comparison to Microsoft.

The Crisis of Capitalistic Democracy Essay Example | Topics and Well Written Essays - 750 words

The Crisis of Capitalistic Democracy - Essay Example The most evident and apparent thing about the book is Posner’s acceptance of the Keynesianism, where he expresses that although the Keynesian Economics is to be constructed upon the idea’s of Keynes, the practitioners in the field of economics has reshaped the ideas. It is also notable that the previous book he wrote is based on the failure of the capitalism, yet Posner staunchly believes in capitalistic approach and appears cautious of the free markets. Posner suggests reformation of the policies that seem rational and an interesting element. Thus, Posner concisely states in his book that the existence of market economies is the reason for the depression in the economy, therefore, the only solution to the current scenario is to let the government curb the depression with its sensible and well analyzed polices. What may be arguable here is that a person who staunchly believes in capitalism has suggested his own perspective of controlling an economy keeping in mind the b enefits that a capitalistic market offers. However, the benefits of market economy are largely ignored by Posner in the book (Ferguson, 2010). The condition unanimously requires to be dealt with, in order to curb the economic dip. But it must not be forgotten that throughout history the countries that were under the capitalistic economies switched to the Market economies; thus, it may be noted that the government has always taken advantage of the authority when given control of the economy as a whole. Therefore, I believe that the economies do not need a switch rather a change should be brought in the existent policies. In my perception, the capitalistic approach would hinder the competency levels in the market and, as a repercussion, the quality of the products and services will reduce. Therefore, if the economy is bad today it will be worse tomorrow (Ferguson, 2010). I believe that Judge Posner has tried to present a reform that is more demanding in its form and structure. He clar ifies in his book: â€Å"Campaign contributions – insulated in the name of the Constitution by a conservative Supreme Court from effective limitation – make the legislative system one of quasi-bribery. Modern communications technology and marketing techniques, along with the expense of modern elections, amplify the influence the interest groups, especially their influence in blocking change. The short electoral cycle (major federal elections every two years) truncates the government’s policy horizon† (p. 384). He apparently suggests here that our economy must re-establish Glass-Steagall in order to rebuild the financing regulatory agencies and to re-shape the Credit Rating Agencies. However, these policies are rigid in nature and are difficult to implement. Moreover, Posner has managed well to point out certain short-comings but in its wake has forgotten to realize that political norms are not stagnant and permanent. He ignores the other existent possibil ities of funding a campaign through public funds as an alternative to private funds. There are functional congressional bills that will aid in the provision of the alternative preferences such as Fair Elections Now Act (Ferguson, 2010). Nevertheless, Posner is correct in highlighting the mitigating factors that lead to the great depression. He mentions that crisis worsened after permitting Lehman Brothers to fail. This led to succeeding administrations response that

Information power inside an organization Research Proposal

Information power inside an organization - Research Proposal Example The aim of this research work is to study and identify the fundamentals of information power that exist within an organization in association with organizational behavior. Additionally the role played by information power in decision making shall also be discussed. Power distance supports the concept of inequality on physical and intellectual basis within an organization. Women in Canada are able to seek career promotions because over there people are more concerned about individualism as opposed to India where women have comparatively less chances of promotions due to power distance and lack of individualism (Aruna Chandra, 2002). First of all I shall be discussing the main aims and objectives of the research work along with the basic definitions of the terminologies. Then there would be a detailed literature review related to the topic. Subsequently I will mention the conceptual framework, research methodology and finally the findings followed by a brief and comprehensive conclusion. The author has critically analyzed the business activities in India and subsequently its comparison is built with US and Canada. This book will be helpful for me so as to define power distance with respect to Indian and Canadian organization. This research article has discussed the role of information in relation to power exercised over the employees in Finish Food Industry. The relationship between buyer and seller is greatly influenced by the information power and therefore it must be handled carefully. I shall be doing the primary research which includes collection of related data, facts and figures. It would be an online data collection process. Research articles from well-known and authentic websites shall be used. Additionally some of the renowned books published on the subject shall also be considered. Deadline for submission is 9th April, 2013. Therefore the

Financial Statement forecast for General Mills Essay

Financial Statement forecast for General Mills - Essay Example We have put together 5 financial parameters(Matz, 1980) in Chart 4.1.1. The 5 parameters are Cost of Good Sold as a percentage of Sales ("CGS%S"); Selling, General, and Administrative Expenses as a percentage of Sales ("SGA%S"); Operating Current Asset as a percentage of Sales ("OCA%S"); Property, Plant, and Equipment as a percentage of Sales ("PP&E%S"); and Other Intangible Assets as a percentage of Sales ("OIA%S"). The percentage of Cost of Goods Sold in relation to the total Sales is ranges from the start in the year 2000 at forty eight percent and fluctuates every year until it reaches its highest percentage of fifty seven percent in the year 2005. The cost of goods sold percentage in relation to Sales then is fixed at fifty six percent starting the following year, 2006, until the last year 2026. The Sales, General and Administrative Expenses percentage in relation to sales starts at the very high twenty seven percent and goes down to twenty six percent in 2001. The percentage then goes further down to its lowest ratio of twenty two percent. The percentage of this expense over sales is finally forecasted to stay at the ratio of twenty three percent starting in the year 2006 until the last year 2026. The Total Current assets percentage over sales starts at a low twenty three percent. The ratio, then, starts picking up until it reaches the next position at twenty nine percent. The ratio then fluctuates mostly in the ratio of twenty seven percent. The ratio reaches further up to thirty seven percent. The new ratio then reaches again a higher ratio of Fifty four percent, sixty percent, and even until the highest ratio of seventy percent until the last year of the forecast 2026. The ratio of net plan, property and equipment (PPE) in relation to sales(Meigs, 1995) is fluctuates. In the year 2000, the ratio is twenty three percent. The ratio goes up to thirty five percent in the year 2002 and even goes down to twenty six percent. This ratio is fixed at twenty six percent starting the year 2006 until the last forecasted year 2026. The ratio of Other Long term operating assets to sales fluctuates from the year 2000 at thirty eight percent until reaches its highest ratio of one hundred twenty four percent in the year 2003. The ratio is then forecasted to be fixed at one hundred two percent within the time period of 2006 to 2026. Based on the Table 1 found after the References Section, the graph is shown below as figure Chart 4.1.1 as follows. For more information concerning the specific values of each ratio, you may refer to Table 4.1.1 of the appendix A. Chart 4.1.1 Trend of 5 financial ratios from 2000 to 2026 To conclude this section, we would like to discuss the Dividend Payout Ratio ("DPOR"). From the chart, we may observe that the company had high DPORs in late 2000 till 2005. Indeed, the Company is among the top food and beverage companies in the United States and around the world both in giving out Dividend to its shareholders(Meigs, 1992) and filling the demands of its discriminating clients. Dividend Pay

Genetic engineering practice Essay Example | Topics and Well Written Essays - 500 words

Genetic engineering practice - Essay Example Equally, some cultured meat is prepared with the present technology, which reduces the level of L-carnitine to zero percentage. This chemical is a contributing factor to heart diseases. The chemical is naturally contained in the red meat. Similarly, the meat is grown in the test tube (GMO) is preferred to conventional meat in terms of cleanness. According to Tomme, the GMO meat undergoes a clean process in its preparation consequently reduced infections. This argument justifies the belief that conventional meat undergoes dirt preparation process, which allows the growth of such bacteria as Salmonella and Listeria, which causes food poisoning (Tomme, 67).On the other hand, GMO meat should not be explored as a viable alternative to conventional meats because of the belief that, despite the vitro meat supposedly similar to the conventional meat, there is a probability that the test tube meat could be bodily detrimental (Tomme, 67). There is a high extent of questionability concerning th e long-term consequences of the test tube meat consumption on human beings. There is fear and doubt amongst the public that the rush to consume new food substances may cause unforeseen effects, which might be difficult to prove for hesitation to test using humans as instruments. Similarly, the technological infeasibility, which is associated with technical challenges in the production of the vitro meat, has remained technically unchallenged, consequently leaving room for doubts.

Colorado Juvenile Court Law Essay Example | Topics and Well Written Essays - 500 words

Colorado Juvenile Court Law - Essay Example The juvenile justice system has been built incorporating the values of restorative justice as influenced by Judeo-Christian beliefs and traditional legal philosophies. However, the availability of handguns, drugs, and gangs has intensified the level of violence that erupts from the juvenile criminal element (Territo, Halsted, and Bromley, 2004, p.572). This paper will examine the laws of Colorado and evaluate the situations that invoke the application of the Colorado Discretionary Waiver provision as amended in 2007. It will make a determination as to the appropriateness of the law and the proportionality of its implementation. Juvenile offender and status offender laws vary by state, and Colorado has some significant differences in their approach to juvenile justice based on the Colorado Discretionary Waiver provision as amended in 2007. According to the provision, "The juvenile court may certify a child meeting age/offense criteria for trial as an adult in district court if, after investigation and a hearing, it finds that (1) there is probable cause to believe that the child committed an offense for which judicial waiver is authorized and (2) it would be contrary to the best interests of the juvenile or of the public to retain jurisdiction" (Griffin, 2008).

Theology of marriage Research Paper Example | Topics and Well Written Essays - 3000 words

Theology of marriage - Research Paper Example Theorists are of the opinion that it is marriage that paves the way towards the formation of the most primary institution of society i.e. family (Macionis, 2007). It is family that portrays the dynamic and colorful picture of strong bondage between its members and plays most imperative role in the nourishment, education and socialization of the individuals. In addition, the members of a family generally keep in touch with one another throughout their life and provide one another financial and moral support at the hour of need. The entire blessings of family life are completely dependent on marriage, without which there could be no concept of family altogether. Hence, the maxim ‘men make houses, women make homes’ also relies upon marriage for the accomplishment of the same. Since family is the basic unit of a social establishment, and a happy domestic life ensures peace and solidarity in society, psychologist theorists particularly lay stress upon the devising of a social system that could strive for the creation of strong ties between the spouses for the peace and harmony of society at large. The religious teachings and dogmatism also declare decline of social values and increase in the anarchical sate of affairs in the contemporary world as the outcome of disturbances in family life, and high increase of divorce rates, which pave the way towards tremendous increase in deviancies, perversion and committing crimes and offenses of various kinds.  ... Sociological Significance of Marriage: Another very prominent aspect of marriage phenomenon includes its great sociological significance in various aspects. Theorists are of the opinion that it is marriage that paves the way towards the formation of the most primary institution of society i.e. family (Macionis, 2007). It is family that portrays the dynamic and colorful picture of strong bondage between its members, and plays most imperative role in the nourishment, education and socialization of the individuals. In addition, the members of a family generally keep in touch with one another throughout their life, and provide one another financial and moral support at the hour of need. The entire blessings of family life are completely dependent of marriage, without which there could be no concept of family altogether. Hence, the maxim ‘men make houses, women make homes’ also relies upon marriage for the accomplishment of the same. Since family is the basic unit of a social establishment, and a happy domestic life ensures peace and solidarity in society, psychologist theorists particularly lay stress upon the devising of a social system that could strive for the creation of strong ties between the spouses for the peace and harmony of society at large. The religious teachings and dogmatism also declare decline of social values and increase in the anarchical sate of affairs in contemporary world as the outcome of disturbances in family life, and high increase of divorce rates, which pave the way towards tremendous increase in deviancies, perversion and committing of crimes and offences of various kinds. Family break-up and absence of father, according to Mendle et al. (2009), turn the girls insecure

Indigenous people of Australia and the Native Americans Essay Example for Free

Indigenous people of Australia and the Native Americans Essay Compare and contrast the impact colonial powers had on the indigenous people of Australia and the Native Americans. There are many disputes to whether it was for the better or worse that the English had arrived in Australia and taken over. But the case still stands why the aboriginals had to tolerate the abuse, massacres and imported disease along with the loss of rights just because they were not as civilized. The Aboriginals were the first people to live in this country for over 45,000 years. Before the English had arrived they had an approximately a population of about 750,000. There is no excuse to the way they were treated but sadly they were not the only ones who were miss treated. Other indigenous communities around the world such as the American Indians were facing similar problems. The Aboriginals were facing the same problems everyday with the English. They were constantly being physically and mentally abused. Looked up for no reason in particular, no food and shelter and just getting pushed around all day. Some disputes would have been because of language, land and rights. The English would have the upper hand because of weaponry and technology. When the English came they brought with them alcohol, which later had a detrimental effect on the Aboriginals as there was a lot of abuse within the communities. The Native Americans were enslaved and forced to work in mines. This resulted in women killing their new born babies, men jumping off cliffs or consuming poisons. The European colonization had had a massive affect on the Native American population. Conflicts arose regularly between the Native Americans and the Europeans. Many people were imprisoned and abused during this time. The Aboriginals population had decreased dramatically due to massacres. These massacres may not have been intentionally for a specific reason but much of the population had decreased from this. One of the well known massacres to occur in the indigenous time happened at the battle mountain. An estimate of 200 indigenous people died during that killing and there were many more. The Native Americans had encountered major population downfall from the 1500 through to the 1890s due to massacres. On May 26th 1637, in mystic river side, English colonists had set fire and burned 600-700 civilians alive. This was one of the largest killing sprees during this time. This was just on example of how brutal the English were to the natives. When the white settlement came to Australia not only did they kill the Aboriginals with abuse, massacres and miss treatment but as they came they brought along diseases as well. These diseases included small pox, chicken pox, influenza and the measles. The Aboriginals died from such diseases because they were not immune to them and their traditional medicines did not help relieve the symptoms. So even such things as colds and flues could have swept through the nation and killed half the tribe. The Native Americans were introduced to such diseases as small pox, typhus, measles, influenza, bubonic plague, mumps and yellow fever. The natives would use sweat baths as a medical treatment which could have weakened the body and made them more immune to the disease. Not only did the Europeans bring over the diseases but as they imported animals that also carried diseases as well. These diseases were the major cause of death during the Native American era. As the first fleet arrived, the Aboriginals were losing their land. The more they stayed the fewer rights they had and eventually decreased to a minimal number of full breeds. The Aboriginals were forced to speak English and as a result of this the languages or dialects had died out. There were pubs built on native ancestral land which only white people could enter. They were forced to dress as the English and act as the English. Their rights had become nothing to be even thought. The Europeans treated the Aboriginal race as animals. Their land was cleared of natural vegetation to make way for buildings, house and roads. They were not allowed to even use them after they were built. As the Europeans entered America they miss treated the natives improperly. Slaves were put into mines or on land and forced to work. As new people came into the land the old people were relocated and forced to change their way of life. This slowly reduced birthrates therefore slowly reducing the population. The European settlement was much alike as the English in Australia. They gave the natives minimal rights or nor rights at all. They massacred tribes and destroyed ancient ground. They brought in the natives and enslaved them, made them speak differently and act differently thus destroying the population and race. Diseases were brought in from over seas either by human or animal and just the way they treated the indigenous people was unacceptable. But unfortunately they were not the only two facing the same problems. There were many more with bigger problems and some were irreversible. What the colonists needed to do is perhaps make friends with the indigenous people and respect their rights, land and race but still build a better future.

Mixed Solvent in CO2 Capture Technology

Mixed Solvent in CO2 Capture Technology Research Proposal Development of mixed solvent in CO2 capture technology with chemical absorption Xingye Fan Objectives: This project mainly aims at developing mixed solvent in chemical absorption to achieve goals of increasing mass transfer rate, CO2 loading capacity, and reduce processing cost. 1.1 Short term objectives: During the first five years, this project tends to test different mixed solvents to compare their property and performance in laboratory-scale. Mixed solvents with different components will be tested by a designed experiment in the laboratory. Advanced engineering process simulation will be performed by using Aspen plus software. By analyzing experiment and simulation data, the most suitable solvent for chemical absorption can be achieved. 1.2 Long term objectives: If the solvent with promising property is obtained and the project continues beyond five years, performance of novel absorbent for CO2 capture can be tested in pilot-scale. If the application of the novel solvent in pilot-scale is proved to be feasible, this absorbent can be tried to be commercialized. 2 Literature review: Chemical absorption processes are widely used to separate CO2 in coal fired power plants and chemical industries. Chemical absorption process is built on the reaction between the CO2 and chemical solvent. A typical chemical absorption process involves an absorber and a stripper. In this process, the flue gas which contains CO2 enters an absorber from the bottom and contacts with a CO2-lean absorbent counter-currently, after absorption, the CO2-rich absorbent flows to a thermally regenerator. In this method absorber and regenerator are working continuously. After regeneration, the CO2-lean stream is sent back to recycle for further use. The pure CO2 released from the regenerator is compressed and forwarded to storage or transportation. Due to the maturity of chemical absorption technology, it has been commercialized for a long time. Chemical absorption CO2 capture technologies are best utilized in post combustion because of its applicability for low CO2 concentration in the inlet gas stream. Chemical absorption is also considered as an efficient technique due to its low energy cost. By using individual type of solvent the absorption process has several drawbacks such as, the degradation of solvent, solvent regeneration efficiency, corrosion etc. which impact the efficiency of CO2 separation. To address the above problems, so much research has been conducted to improve solvent, modify gas-liquid contact device and prevent solvent degradation. Currently, to reduce the regeneration energy and further curtail the cost of absorption process, the operation of stripper is improved. Evidence shows that the operation of higher stripper pressure and alkanolamines concentration can be adopted to reduce energy consumption in regeneration. Volume of conventional absorption apparatus such as a packed bed, spray column, and a bubble column, is generally quite large. Therefore, small sizes of absorber and stripper with a lower equipment cost are expected. A rotating packed bed (RPB) was proposed which can also increase mass transfer rate between gas and absorbent. CO2 capture technology with chemical absorption strongly depends on the performance of a liquid solvent. Thus, selecting a suitable solvent is the most effective method to improve the efficiency of this technique. So far, many researchers have focused on developing novel mixed solvents. Cullinane and Rochelle (2004) raised CO2 reaction rate by using potassium carbonate and amines with piperazine as a promoter. Rodrigo and Chakib (2010) improved the reaction rate by adding small amount of monoethanolamine or methyldiethanolamine into ammonia. Jeong Ho Choi and Seong Geun Oh (2012) increased CO2 reaction rate and CO2 loading capacity by mixed liquid solvent with 2-methylpiperidine as a promoter. Although so much research regarding to mixed solvent has been carried out, development of mixed solvents is still an essential research direction to improve absorption technology. 3 Method and proposed approach: In order to measure the mass transfer rate of CO2 by using different solvents, we need to utilize a wetted wall column. Vapor-liquid equilibrium method is also used to evaluate the CO2 loading capacity. In addition, a simulation of the CO2 capture system can be developed by Aspen Plus software. Work plan 1: measure mass transfer rate of CO2 with different mixed solvents (years 1-3) In order to find a suitable combination of solvents, different kinds of absorbent mixture should be involved in the experiments. As the mass transfer rate of CO2 is a core parameter to determine property of absorbents, graduate students will carry out a wetted wall column experiment to measure CO2 mass transfer rate by using different mixed solvents. Solvents selection is of great significance. Various solvents are suitable for CO2 absorption such as monoethanolamine, diethylaniline, and methyldiethanolamine, K2CO3, Na2CO3, NaOH, NH3, Adenosine monophosphate. Alkanolamines are common absorbents for CO2 capture, and amines with different structure have various properties. Traditionally, alkanolamines can be classified into; primary, secondary, and tertiary amines. Among these three categories, the primary amines, for example monoethanolamine are considered the best solvent for flue gas cleaning because of the low partial pressure of CO2 in the flue gas. Monoethanolamine is a suitable solvent at low partial pressures of CO2 in the gas stream since it reacts quickly, and the cost of the raw materials is lower than secondary and tertiary amines. However, the operating cost of chemical absorption processes with monoethanolamine is high due to high energy cost in regenerating and operational problems such as corrosion, solvent loss, and solvent degradation. In addition, loading capacity of monoethanolamine can only be up to about 0.5mol of CO2/mol of monoethanolamine because of the formation of stable carbamates. Loading capacity of Tertiary alkanolamines such as methyldiethanolamine can reach 1mol of CO2/mol alkanolamine, and the energy consumption for regeneration is lower. However, the rates of CO2 absorption are low which make them not feasible for CO2 capture. A wide variety of alkanolamines that have proven to be commercially suitable for acid gas removal by chemical absorption are monoethanolamine, diethylaniline, methyldiethanolamine, and diglycolamine. The r eaction of CO2 with primary and secondary alkanolamines to produce carbamates increases the CO2 interfacial mass transfer rate dramatically compared to the mass transfer rate without the chemical reactions and under the same driving force. However, because carbamate formation leads to the requirement of large amount of heat, the regeneration energy is significantly high. On the other hand, the slower reaction of tertiary amines with CO2 produces only bicarbonate and carbonate with a lower heat of reaction. Nevertheless, reaction with tertiary amines cannot raise the interfacial mass transfer rate to an ideal extent. Diglycolamine is also a primary amine that can be used at 50–70 wt% amines, leading to greatly lower circulation rates and energy requirements. The reactivity of diglycolamine is similar with monoethanolamine, but diglycolamine has a much lower vapor pressure. Thus, diglycolamine can be used in a more concentrated solution with less solvent flow rate. Therefore, a ccording to the property of individual solvents, graduate students are required to select a diverse combination of solvents with different concentration and to measure their CO2 mass transfer rate with a wetted wall column. The construction of wetted wall column apparatus is described as the follows. The gas–liquid contactor in the center is constructed by a stainless-steel tube. The column is enclosed by a thick cylindrical wall glass and the whole chamber is surrounded by a second glass wall. Water flowing between the two glass walls can be used as a heat transfer medium. The absorbent is pumped into the column and flows down from the top and forms a thin liquid film along the outside surface of the column. Feed gas enters near the base of the chamber, counter-currently contacts with liquid and then exits from the top. During the experiment, the temperature in the chamber needs to be controlled to constant, and inside the reactor pressure is also maintained constant. The ga s concentrations are measured with the non-dispersion infrared sensor continuously. Measurement of CO2 content in the inlet and outlet gas stream provides CO2 partial pressure and CO2 flux between gas and liquid. Other physical properties are analyzed by the different equipment such as density and viscosity is measured by density meter and viscometer respectively. In the process of CO2 absorption, the molar flux of CO2 from the gas stream to the absorbents can be expressed as: (1) In addition, =+ (2) is the gaseous molar flux of CO2. KG is the overall mass transfer coefficient, PCO2 and PCO2* are partial pressure of CO2 in the gas stream and at equilibrium in the liquid respectively. kG and kG’ are gas and liquid mass transfer coefficient respectively. kG is a function of both the physical diffusion of the reactants in the liquid and the effect of the chemical reaction. In addition, the flux can be calculated if the contact area between the gas and the liquid as well as the amount of CO2 absorbed per unit of time is known. The flux can be calculated from equation (3): (3) PCO2,in and PCO2,out are the partial pressure of CO2 in the inlet and outlet of the chambers which can be measured, P is the pressure in the chamber which can be measured by a pressure transducer, Qg is the flow rate of gas at the entrance of the chamber (m3/sec), including the water and solvent in the gas phase. The flow rates of water and solvent in the chamber are calculated with the thermodynamic model. Vm is the molar volume at the experimental conditions (mol/m3) and A is the contact area between the gas and the liquid. Therefore, by measuring the absorption flux at different partial pressures of CO2 and by using equation (1), it is possible to determine the overall mass transfer coefficient KG by plotting the flux as a function of the partial pressure of carbon dioxide in the chamber. After this part of experiment, we are able to screen some promising mixed solvents and carry out subsequent experiment with them. Work plan 2: evaluate CO2 loading capacity of different mixed solvents (years 3-4) In this section, graduate students need to measure CO2 loading capacity of the left mixed solvent with vapor-liquid equilibrium system. The vapor–liquid equilibrium system includes a CO2 supplier, a reactor, a measuring device that indicates temperature and pressure, and a computer that records CO2 pressure immediately. The reactor is batch reactor with a magnetic stirrer at the bottom to increase the gas–liquid contact area. Equilibrium partial pressure of CO2 in the reactor can be expressed as follows: P*CO2=P*-P0 (4) P* is the equilibrium pressure at the absorption equilibrium and P0 is the initial pressure. The mole of the CO2 entered can be calculated by the ideal gas law as follows: nSCO2= (5) PSi is the initial pressure of supplier. PSt is the pressure of supplier after injection of CO2. VS is the volume of supplier, TS is the temperature of supplier and R is gas constant. The mole of gaseous CO2 in the reactor at equilibrium can also be determined by the ideal gas law. nRCO2= (6) In the above equation, PRi is the initial pressure of reactor. PRt is the pressure of reactor after equilibrium VR, TR are volume of reactor and temperature of reactor, respectively. Eventually, the total amount of absorbed CO2 can be determined by Eq (7). nabsorbedCO2=nSCO2-nRCO2 (7) The loading capacity can be expressed by molar solubility which is the mole of the CO2 absorbed divided by the mole of absorbent: NCO2loading= (8) By comparing CO2 loading capacity, we are able to get rid of some mixed solvents with poor CO2 loading capacity. Then, left mixed solvents are selected for further research. The concentration of mixed solvents is also very important. In order to get the specific concentration at which mixed solvent can work best, wetted wall column experiments and vapor-liquid equilibrium experiments are required to conduct repetitively. Work plan 3: Simulation of process (years 4-5) In case, we can obtain suitable mixed solvents from above sections and according to the kinetics study in work plan 1, graduate students will be assigned to simulate the process of CO2 capture pilot plant using chemical absorption method. The simulation is manipulated with Aspen plus Software. The objectives of this work are as follows: Firstly, by carrying out the simulation, we can collect the data of CO2 removal efficiency. Besides, the simulation can help to determine the energy consumption in the CO2 capture pilot plant. Based on these data, we can screen the mixed solvents which can reduce the processing cost. Moreover, the simulation of the process is also an efficient way to evaluate a capture process and to optimize the process in order to reduce the heat, water and electricity consumption. At last, when further research is done such as test the solvent performance in a pilot plant, we can compare the data collected from the pilot plants with simulation data to perform the v erification. 4 Anticipated significance of the work After devoting over five years to this project, we hope to find a better absorbent by developing mixed solvent in CO2 capture technology. This outcome will not only increase the efficiency of the chemical absorption CO2 capture technology but also reduce the energy consumption of this technology. Since the chemical absorption technology is widely used for CO2 capture, the discovery of an innovative solvent will definitely make this technology more competitive. 5 Training for graduate students and researchers This project will develop graduate students’ skills of carrying out wetted water column and vapor-liquid equilibrium experiments as well as the ability to calculate mass transfer rate and CO2 loading capacity. In addition, graduate students will also obtain the skills of processing and analyzing data. This project also requires students have skills of using software related to chemical engineering such as Aspen plus. The working experience on the project will provide students ability of performing multi-task, creativity, critical thinking ability, detail-oriented characteristic. 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