Survey Of Accounting
5th Edition
ISBN: 9781259631122
Author: Edmonds, Thomas P.
Publisher: Mcgraw-hill Education,
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Chapter 15, Problem 3ATC
a)
To determine
Determine the percentage change for the year and average of changes.
2011-2012
2012-2013
2013-2014
b)
To determine
Prepare the
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Problem 13-2A (Algo) Ratios, common-size statements, and trend percents LO P1, P2, P3
(The following information applies to the questions displayed below.]
Selected comparative financial statements of Korbin Company follow.
KORBIN COMPANY
Comparative Income Statements
For Years Ended December 31
2021
2020
2019
Sales
$ 442,035
$ 338,635
212,324
126, 311
$ 235,000
Cost of goods sold
Gross profit
Selling expenses
Administrative expenses
Total expenses
Income before taxes
266, 105
150,400
175,930
62,769
39,783
102,552
73,378
13,648
$ 59,730
84,600
31,020
46,732
29,800
76,532
49,779
19,505
50,525
34,075
Income tax expense
10, 205
6,917
Net income
$ 39,574
$ 27,158
KORBIN COMPANY
Comparative Balance Sheets
December 31
2021
2020
2019
Assets
Current assets
$ 55,578
$ 37, 199
$ 49,726
Long-term investments
Plant assets, net
900
4,570
56,095
104,820
$ 160,398
95,143
Total assets
$ 133, 242
$ 110,391
Liabilities and Equity
Current liabilities
$ 19,853
$ 23,418
68,000
8,500…
Problem 17-2A (Algo) Ratios, common-size statements, and trend percents LO P1,
[The following information applies to the questions displayed below.]
Selected comparative financial statements of Korbin Company follow.
KORBIN COMPANY
Comparative Income Statements.
For Years Ended December 31
2021
Sales:
Cost of goods sold
Gross profit
Selling expenses
Administrative expenses
Total expenses
Income before taxes
Income tax expense
Net income
Assets
Current assets
2020
$436,580 $ 334,456
262,821
173,759
61,994
39,292
Long-term investments
Plant assets, net
Total assets
KORBIN COMPANY
Comparative Balance Sheets
December 31
Liabilities and Equity
Current liabilities
Common stock
Other paid-in capital
Retained earnings
Total liabilities and equity
212,045
122,411
46, 155
101,286
72,473
13,480
$ 58,993 $ 37,225
29,432
75,587
46,824
9,599
2021
$ 54,789
0
100, 200
$154,989
$ 22,628
72,000
9,000
51,361
2019
$ 232,100
148,544
83,556
30,637
19,264
49,901
33,655
6,832
$ 26,823
2020
$36,670
900
91,178…
How do I calculate the NOPBT for 2016 and 2015
Consolidated Statements of Income
Fiscal year ended
(in thousands)
Dec. 29, 2016
Dec. 30, 2015
Revenues
Circulation
$880,543
$851,790
Advertising
580,732
638,709
Other
94,067
88,716
Total revenues
1,555,342
1,579,215
Production costs
Wages and benefits
363,051
354,516
Raw materials
72,325
77,176
Other
192,728
186,120
Total production costs
628,104
617,812
Selling, general and administrative costs
721,083
713,837
Depreciation and amortization
61,723
61,597
Total operating costs
1,410,910
1,393,246
Restructuring charge
14,804
0
Multiemployer pension plan withdrawal expense
6,730
9,055
Pension settlement charges
21,294
40,329
Early termination charge
0
0
Operating profit
101,604
136,585
Loss from joint ventures
-36,273
-783
Interest expense, net
34,805
39,050
Income from continuing operations before income taxes
30,526
96,752
Income tax expense/(benefit)
4,421
33,910
Income…
Chapter 15 Solutions
Survey Of Accounting
Ch. 15 - 1. Pam Kelly says she has no faith in budgets. Her...Ch. 15 - 7. What is a responsibility center?Ch. 15 - Prob. 3QCh. 15 - Prob. 4QCh. 15 - Prob. 5QCh. 15 - 3. When are sales and cost variances favorable and...Ch. 15 - 4. Joan Mason, the marketing manager for a large...Ch. 15 - Prob. 8QCh. 15 - Prob. 9QCh. 15 - Prob. 10Q
Ch. 15 - Prob. 11QCh. 15 - 9. Minnie Divers, the manager of the marketing...Ch. 15 - 6. How do responsibility reports promote the...Ch. 15 - Prob. 14QCh. 15 - Prob. 15QCh. 15 - Prob. 16QCh. 15 - 12. How can a residual income approach to...Ch. 15 - Prob. 18QCh. 15 - Exercise 9-6A Evaluating a profit center Helen...Ch. 15 - Prob. 2ECh. 15 - Prob. 3ECh. 15 - Prob. 4ECh. 15 - Exercise 8-3A Determining amount and type...Ch. 15 - Prob. 6ECh. 15 - Exercise 8-4A Determining sales and variable cost...Ch. 15 - Exercise 8-5A Determining flexible budget...Ch. 15 - Exercise 8-9A Responsibility for the fixed cost...Ch. 15 - Prob. 10ECh. 15 - Exercise 8-7A Evaluating a decision to increase...Ch. 15 - Prob. 12ECh. 15 - Prob. 13ECh. 15 - Exercise 9-9A Residual income Climax Corporation...Ch. 15 - Residual income Gletchen Cough Drops operates two...Ch. 15 - Prob. 16ECh. 15 - Prob. 17ECh. 15 - Prob. 18PCh. 15 - Prob. 19PCh. 15 - Prob. 20PCh. 15 - Prob. 21PCh. 15 - Problem 9-20A Return on investment Sorrento...Ch. 15 - Problem 9-21A Comparing return on investment and...Ch. 15 - Comparing return on investment and residual income...Ch. 15 - ATC 8-1 Business Applications Case Static versus...Ch. 15 - Prob. 2ATCCh. 15 - Prob. 3ATCCh. 15 - ATC 9-1 Business Applications Case Analyzing...Ch. 15 - Prob. 5ATC
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