All categories

3 years ago

Definition of a corporation, two examples. LOTS OF POINTS.

1 answer:

7 0

The dictionary definition of a corporation is "<span>a company or group of people authorized to act as a single entity (legally a person) and recognized as such in law." So basically a company that has been given the legal rights of a person. Examples of this would be Google, or Burger King because they are given these legal rights by the government.</span>

You might be interested in

What is accounting theory

Gemiola [76]

Answer:

a set of assumption framework and methodologies used in the study of application of financial reporting principles

8 0

3 years ago

Billy has received a mediocre evaluation for the second year in a row. He knows that he has made improvements, but his superviso

Ber [7]

Answer:

He could take deep breaths and then respond nonjudgmentally

Explanation:

From the question, we are informed about Billy who has received a mediocre evaluation for the second year in a row. He knows that he has made improvements, but his supervisor just does not seem to notice or in Billy’s opinion, care. Billy likes his job and wants to keep it. He listens to what his supervisor says and then his supervisor asks Billy to prepare a written response. Before Billy leaves the room to prepare the response, In this case should he respond to his supervisor by taking deep breaths and then respond non-judgmentally when addressing is supervisor.

7 0

3 years ago

Carl is a self-employed real estate agent. For the current year, his self-employment net earnings (revenues minus expenses) are

lisov135 [29]

Answer:

$12,240

Explanation:

Social security Tax = $80,000 x 12.4%

Social security Tax = $9,920

Medicare Tax = $80,0000 x 2.9%

Medicare Tax = $2,320

Total tax = $9,920 + $2,320

Total tax = $12,240

3 0

3 years ago

Winslow Inc. manufactures and sells three types of shoes. The income statements prepared under the absorption costing method for

stellarik [79]

Answer:

Winslow Inc.

a. No. I do not agree with management's decision and conclusions. Eliminating the running shoes line increased the company-wide loss to $112,600 from a profit of $7,900.

b. Variable Costing Income Statements:

1 Cross Training Golf Shoes Running Shoes Total

2 Revenues $850,000 $700,000 $635,000 $2,185,000

3 Variable costs:

Cost of goods sold 284,500 248,400 298,500 831,400

Selling and administrative 293,100 175,500 216,000 684,600

Total 577,600 423,900 514,500 1,516,000

4 Gross profit $272,400 $276,100 $120,500 $669,000

5 Fixed costs:

Cost of goods sold 128,500 90,300 120,500 339,300

Selling & administrative 95,900 82,400 143,500 321,800

Total 224,400 172,700 264,000 661,100

6 Income (Loss) from $48,000 $103,400 $(143,500) $7,900

c. Eliminating the line only eliminated the variable costs of goods sold and selling and administrative expenses. The fixed costs were not changed with the elimination. Therefore, eliminating the running shoes line increased the company-wide loss to $112,600 from a profit of $7,900.

Explanation:

a) Data and Calculations:

Winslow Inc.

Product Income Statements—Absorption Costing

For the Year Ended December 31, 20Y1

1 Cross Training Golf Shoes Running Shoes Total

2 Revenues $850,000 $700,000 $635,000

3 Cost of goods sold 413,000 338,700 419,000

4 Gross profit $437,000 $361,300 $216,000

5 Selling & administrative

expenses 389,000 257,900 359,500

6 Income (Loss) from $48,000 $103,400 $(143,500)

1 Cross Training Golf Shoes Running Shoes Total

2 Revenues $850,000 $700,000 $635,000 $2,185,000

3 Variable costs:

Cost of goods sold 284,500 248,400 298,500 831,400

Selling and administrative 293,100 175,500 216,000 684,600

Total 577,600 423,900 514,500 1,516,000

4 Gross profit $272,400 $276,100 $120,500 $669,000

5 Fixed costs:

Cost of goods sold 128,500 90,300 120,500 339,300

Selling & administrative 95,900 82,400 143,500 321,800

Total 224,400 172,700 264,000 661,100

6 Income (Loss) from $48,000 $103,400 $(143,500) $7,900

Eliminating the running shoe line:

1 Cross Training Golf Shoes Total

2 Revenues $850,000 $700,000 $1,550,000

3 Cost of goods sold:

Variable costs 284,500 248,400 532,900

Fixed costs 128,500 90,300 339,300

Total 413,000 338,700 872,200

4 Gross profit $437,000 $361,300 $677,800

5 Selling & administrative expenses:

Variable costs 293,100 175,500 468,600

Fixed costs 95,900 82,400 321,800

Total 389,000 257,900 790,400

6 Income (Loss) from $48,000 $103,400 ($112,600)

3 0

2 years ago

g Compare and contrast a four Ps approach to marketing versus the value approach (creating, communicating, delivering and exchan

abruzzese [7]

Answer:

The 4Ps are Product, Pricing, Promotion, Place.

Explanation:

Thinking about it carefully, one would note that there is really nothing to contrast between the value approach which is Creating, Communicating, Delivering and Exchanging Value.

Let's make the comparisons:

Products and Services are Created. It's impossible to have a product or service that is not created.

The inherent quality of a Utility or Product or Service is that they are value which is Created. So in describing the marketing approach, one can use both interchangeably.

Pricing vs Exchanging Value

Again there is a parallel here. Price is the value you have put on your product or service. Without price, it's difficult to exchange value. Again in the marketing process/approach, it's difficult to separate the two. In both approaches, pricing and Exchanging Value as steps in the marketing approach can be used interchangeably.

Communicating vs Promotion

This is also another parallel. Promotion is simply another way to communicate the value of your product. Both are really not different.

Delivering Value vs Place

Place under the 4 Ps approach speaks to the location where the product is delivered. Again it's clear to see that both cannot be separated.

In conclusion, assuming all factors are the same and held constant between two companies A and B, if company A follows the 4Ps approach and company B follows the Value approach, they are most likely to arrive at the same results.

Cheers!

5 0

3 years ago