KORBIN COMPANY
Comparative Income Statements
For Years Ended December 31, 2015, 2014, and 2013
2015 2014 2013
Sales $394,258 $302,034 $209,600
Cost of goods sold 237,343 189,375 134,144
Gross profit 156,915 112,659 75,456
Selling expenses 55,985 41,681 27,667
Administrative expenses 35,483 26,579 17,397
Total expenses 91,468 68,260 45,064
Income before taxes 65,447 44,399 30,392
Income taxes 12,173 9,102 6,170
Net income $53,274 $35,297 $24,222

KORBIN COMPANY
Comparative Balance Sheets
December 31, 2015, 2014, and 2013
2015 2014 2013
Assets
Current assets $47,712 $37,329 $49,900
Long-term investments 0 800 4,670
Plant assets, net 88,608 94,243 55,100
Total assets $136,320 $132,372 $109,670
Liabilities and Equity
Current liabilities $19,903 $19,723 $19,192
Common stock 68,000 68,000 50,000
Other paid-in capital 8,500 8,500 5,556
Retained earnings 39,917 36,149 34,922
Total liabilities and equity $ 136,320 $132,372 $109,670
a. Complete the below table to calculate income statement data in common-size percents. KORBIN COMPANY Common-Size Comparative Income Statements For Years Ended December 31, 2015, 2014, and 2013 2015 2014 2013Sales _____% _____ % _____ %Cost of goods sold _____ -1 _____ -1 _____ -1Gross profit Selling expenses _____ -1 _____ -1 _____ -1Administrative expenses _____ -1 _____ -1 _____ -1Total expenses Income before taxes _____ -1 _____ -1 _____ -1Income taxes _____ -1 _____ -1 _____ -1Net income _____ % _____ % _____ %

Answer:

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Explanation:

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Answer:

A. Investor relations

Explanation:

The chief financial officer of a company is responsible for maintaining the finances of the organisation. This includes financial planning, risk management, record keeping and financial reporting.

However investor relations has increasingly become part of their job role.

Investor relations requires oversight that emphasises audit accuracy, disclosure, reporting, and compliance practices. This needs a person with financial management background.

So this has become part of the portfolio of the CFO.

Answer:

e. All of the answers are correct.

Explanation:

Cost Volume Profit (CVP) analysis involves a model of the relations amont the prices of the products, the volume or level of activity, unit variable costs, and the sales mix. The model is used to predict the impact on the profits of changes in those parameters. It is used to study the effects of changes in selling prices on a company's profitability,  changes in variable costs on a company's profitability, changes in fixed costs on a company's profitability, and changes in product sales mix on a company's profitability

Answer: Cigarette smoking

Explanation:

Utility is simply defined as the satisfaction or the enjoyment that an individual gets when the individual consumes a particular good.

An individual who smoked cigarette derives satisfaction from it and gets value for his or her money, therefore it's good for him or her. But in the case of someone who doesn't smoke, the person will see cigarette as something bad because it gives disutility to him or her.

Answer:

Answer:

warn them of dangers around the kitchen, distribute panphlets than help the workers understand the risks, where to get help in case of an accident and make sure to contact their doctor or 911 as soon as the injury occurs to keep both boss and employee out of serious legal troubles

Answer:

The below options are missing from the question:

a. the total amount of income earned since incorporation less distributions to shareholders

b. the total amount of income earned since incorporation

c. the amount of cash available to distribute to common shareholders

d. a reserve the firm can use to acquire another company

a. the total amount of income earned since incorporation less distributions to shareholders

Explanation:

The retained earnings of $8,863 million is the accumulated net income that the company has realized since it incorporation minus all dividends paid to shareholders since.

Note the formula for determining closing retained earnings is given below:

closing retained earnings=beginning retained earnings+net income-dividends

Answer:

A. True

Explanation:

If the optimal production decreases than the average inventory will increase.

Answer:

The answer is "4.05 Million".

Explanation:

Formula:

[tex]\text{New Lagoon Cost = cost \times size^y}[/tex][tex]\text{New Lagoon Cost} = cost \times size^y[/tex] Where y is the exponent for power-sizing  

[tex]= \$ 2.3 \times (1.65)^{1.13}\\\\ =\$ 2.3 \times 1.76098987\\\\ = 4.0502767\ \ OR \ \ 4.05[/tex]

The Lagoon carbonated power portion from the given table is 1.13, that's why the final answer is "$ 4.05 million"

Answer:

Kurt

Explanation:

The computation of the cash available is shown below;

But before that first we have to determine the net income which is shown below:

Net sale               $5,625

Less:

Operating cost     -$3,656.25 ($5,625 × 65%)

Depreciation         -$281.25  ($5,625 × 5%)

EBIT                       $1,687.5

Less

interest                   -$253.125   ($1,687.50 × 15%)

Profit before tax     $1434.375

Less:

Tax                           -$573.75   ($1,434.375 × 40%)

Net income               $860.625

Add: depreciation    $281.25

Cash                          $1,141.875

Hence, the Kurt provide a better estimation for the current cash flows

Answer:It is important to keep calm when making a claim because it gives off the impression that you know what you're talking about. Going crazy and yelling will make you look immature and no one would want to hear your claim.

Explanation:

It is smart to keep cool while making a claim, guarantees clear-cut explanation and direct tone of the message, and go with the proper and full knowledge about it.

Making claim must takes place when an individual's property has been damaged, or he/she have been hurt. He can sole claim something that is made by one of the titled dangers recited in the policy.

It is important while making a claim that an individual must have a full knowledge about the claim and he/she must be cool at the same time. It supports the insurer work peacefully.

Insurer will be bright to clear off the claims of groups who are conjunct and do not overact with the numerical quantity of the claim.

Therefore, the person making a claim must have to be cool.

Learn more about making claim, refer to:

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Answer:

Allocated MOH= $365,500

Explanation:

Giving the following information:

Estimated total overhead= $358,700

Estimated direct labor cost= $211,000

Actual direct labor cost= $215,000

First, we need to calculate the predetermined overhead rate:

Predetermined manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base

Predetermined manufacturing overhead rate= 358,700/211,000

Predetermined manufacturing overhead rate= $1.7 per direct labor dollar

Now, we can allocate overhead:

Allocated MOH= Estimated manufacturing overhead rate* Actual amount of allocation base

Allocated MOH= 1.7*215,000

Allocated MOH= $365,500

Answer:

The correct answer is C) Risk Management Plan

Explanation:

Change Control System is a key component of the Risk Management Framework/Strategy.

Many times, a project will change midway thus altering significantly the expected results, costs and even purpose of the project. This usually poses a lot of challenges to Project Managers.

Factors or sources of changes to a project include but are not limited to:

Cheers!

When the changes are implemented in a process or a system they are ensured by a change control system.

It follows, surveys and accepts the changes before the product or the process are influenced by the change.

The correct answer is:

Option C) Risk Management Plan

This can be explained as:

Therefore, risk management is a key to changing the control system.

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Answer:

1. $24,000

2. $3,200

Explanation:

1. Company Assets = Liability + Owner capital - Owner withdrawals +  Revenues - Expenses

64,000 = 22,000 + 32,000 - 0 + revenues - 14,000

Revenue = 64,000 - 22,000 - 32,000 + 14,000

Revenue = $24,000

2. Company Assets = Liability + Owner capital - Owner withdrawals +  Revenues - Expenses

102,800 = 38,000 + 56,000 - withdrawals + 36,000 - 24,000

-Withdrawals = 102,800 - 38,000 - 56,000 - 36,000 + 24,000

-Withdrawals = -$3,200.

Withdrawals = $3,200

1. The revenue amount for company 1 is $24,000

2. The owner withdrawals for company 2 is $3,200

1. Company Assets = Liability + Owner capital - Owner withdrawals +  Revenues - Expenses  

64,000 = 22,000 + 32,000 - 0 + revenues - 14,000  

Revenue = 64,000 - 22,000 - 32,000 + 14,000  

Revenue = $24,000

2. Company Assets = Liability + Owner capital - Owner withdrawals +  Revenues - Expenses

102,800 = 38,000 + 56,000 - withdrawals + 36,000 - 24,000

-Withdrawals = 102,800 - 38,000 - 56,000 - 36,000 + 24,000

-Withdrawals = -$3,200.

Withdrawals = $3,200

Learn more: https://brainly.com/question/17429689?referrer=searchResults

Answer:

Wilson Towing Service

Income Statement

For the month ending June 30, 2016

Service revenue        $12,500

Salaries expense      ($2,500)

Rent expense               ($500)

Operating profit         $9,500

The income statement tells us how much profit/loss did a business make during a certain period of time. In this case, the operating profit was $9,500. In order to calculate net income we would need to subtract taxes but we are not given the tax rate or the taxes due.

the rise and fall on a ocean is called a ' tide '

Answer:

d. informal communication networks, such as the grapevine

Explanation:

Barriers to interpersonal communication are arises when a perosn has lack of self-awareness, Sensitivity, and flexibility. These barriers affect the teamwork and efficiency of each team member and a whole team as well. individual differences among employees, situational factors such as outside noise, and transmission problems, such as telephone static are examples of barriers to interpersonal communication.

Answer:

Exchanged-traded funds

Explanation:

Exchanged-traded funds are forms of investment that are usually traded on stock exchange the way other securities are traded, but they have an underlying asset.

Unlike mutual funds ETF are traded on the stock exchange at all periods of the day.

Assets held by ETF includes, shares, currencies, bonds, and commodities like gold and oil.

Value of trade is kept close to the net value of the underlying asset.

Answer:

The true statement about the Siemens bribery scandal is:

b The CEO was involved and condoned it.

Explanation:

The 2008 Siemens scandal was an organized and deliberate effort by the company to bribe government officials in order to secure supply contracts from national governments.  It was a worldwide act perpetrated by senior management officials with a long-term pattern.  The massive bribery  attracted a fine of $160 billion. It seems that bribery is an "embedded business culture in the company."

Answer:

C) facility location

Explanation:

There are three components or principle of servicescape that are applied for the study as a measure for satisfaction that involves the condition related to the ambient, spatial layout & functionality, and the symbol, sign & artifacts

But do not include the facility location

Therefore the option C is selected as it does not involed in the service scape

Full question attached

Answer:

mean and standard deviation of luxury hotels=145, 27.6

mean and standard deviation of budget hotels=46.1, 5.13

There is higher variability for luxury hotels than budget hotels

Explanation:

Please see attachment for explanation

Answer:

True

Explanation:

Remember, no business operations would exist if there aren't any identified customer needs to solve.

Also, we need to bear in mind that Operations management activities are done in any business in other to efficiently (profitably) process raw materials,  labor, etc into the goods and services needed by consumers.

Answer and Explanation:

The computation of the total period cost is shown below:

Variable selling expense $16,000

Fixed selling expense    $15,000

Variable administrative expense $6,000

Fixed administrative expense  $18,000

Total period Cost            $51,000

ANd, the total fixed cost is

Fixed Manufacturing overheads $30,000  

Fixed selling expenses         $15,000  

fixed admin expenses          $18,000

Total fixed cost                     $63,000

We simply added all the above items

Answer:

b) money is raised without a specific property being stated, and the GP selects the investments.

Explanation:

A blind pool offering can be defined as a limited liability partnership or investment program that isn't backed up by the required investment goals for the funds that has been gathered from investors.

When money is raised without a specific property being stated, and the GP selects the investments it describes an oil and gas blind pool offering.

Answer:

I belive it is A

Explanation:

I'm not 100 percent sure dude but i leaning towards A

Answer:

1. $45,500

2. Journal entries

3. Journal entries

Explanation:

The Interest amount can be calculated by multiplying the face value of bonds with annual interest and the time period. Journal entries are given below

Requirement 1  (Interest amount)

Interest amount  = Face value of bond x annual interest rate x 6/12

Interest amount  = 1,300,000 x 7% x 6/12

Interest amount  = $45,500

Requirement 2 (Journal entries to record issuance of bond and interest expense)

1 Jan (issuance of bond payable )

                                                   DEBIT          CREDIT

Cash                                        1,300,000

Bonds payable                                             1,300,000

30 June (interest expense recorded)

                                                   DEBIT          CREDIT

Cash                                          45,500

Bonds payable                                               45,500

31 Dec (interest expense recorded)

                                                   DEBIT          CREDIT

Cash                                          45,500

Bonds payable                                               45,500

Requirement 3 (Journal entry for issuance assuming bonds are issued at a.96 b.104)

At 96

                                                            DEBIT          CREDIT

Cash(1,300,000  x 96%)                 1,248,000

Discount(1,300,000 - 1248,000)      52,000

Bonds payable                                                      1,300,000

At 104

                                                              DEBIT        CREDIT

Cash(1,300,000  x 104%)                  1,352,000

Premium (1,300,000 - 1248,000)                            52,000

Bonds payable                                                        1,300,000

Answer:

Efficiency

Explanation:

Efficiency is when a market is producing the greatest possible amount given its resources. This is demonstrated by the production possibility frontier, which displays the maximum amount of a good that can be produced in relationship to the production of another good.

Answer:

Goods are actual tangible items that a person can buy in other to satisfy their needs and/ wants while Services are intangible but are provided to a person by another person in order to satisfy the needs and/or wants of the person the services are being provided for.

GOODS;

SERVICES

Answer:

Marketing channels.

Explanation:

Marketing Channels is one of the core aspects of marketing which enables a company to marketize its products, services, and brand identity to it's customers.

The Gluten Free Bars (GFB) are the vegan bars created by Marshall and Elliot Rader (brothers). The brothers created the GFB in 2010, and heralded the gluten-free industry.

To marketize their products, they used the element of marketing channels. They first reached to their possible customers by shopping their products to independent coffee shops, then to grocery and natural food stores. They used the channels of independent coffee shops, grocery and natural food stores to marketize their products and services to their possible customers.

Thus the correct answer is that they used marketing channels aspect of marketing.

Answer:

The opportuniy cost is the cost of forgoing one alternative.

In this case, the opportunity cost of Task B is the value of Task C, which is $50,000.

This is because the owner has hired two managers, one to do Task A, and another to do Task B, which leaves Task C unattended.

Answer:

C. The Federal Reserve Bank can provide a short-term loan to banks

to prevent them from running out of money.

Explanation: