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2 years ago

The following information, based on the 12/31/2021 Annual Report to Shareholders of Krafty Foods ($ in millions):

Business

1 answer:

amid [387]2 years ago

5 0

Answer:

Net income$ 1,982

Explanation:

Preparation of income statement for Krafty Foods for the year ended December 31, 2021

Krafty Foods Income Statement For the Year Ended December 31, 2021

($ in millions)

Operating revenues 34,375

Less Cost of goods sold 17,631

Gross profit 16,744

Marketing, general and administration expenses

11,560

Operating income 5,184

(16,744-11,560)

Interest and other debt expense, net

1,537

Income before taxes 3,647

(5,184-1,537)

Income tax expense 1,665

Net income$ 1,982

(3,647-1,665)

Therefore the Net income of the income statement for Krafty Foods for the year ended December 31, 2021 will be $1,982

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World-class performance measures can be used in different functional areas of a firm to satisfy objectives, enhance the value of

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Answer:

D) All of these

Explanation:

World class performance measures can be used in different functional areas, for example International Organization for Standardization (ISO) norms apply to all the functional areas of a company:

ISO 9000 - Quality Management
ISO 27000 - Information Security Management Systems
ISO 14000 – Environmental Management
ISO 31000 - Risk Management
ISO 50001 - Energy Management
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Other types of world class performance measures that are not as established and recognized as ISO norms, but are gaining momentum in modern management like World Class Manufacturing (WCM) framework focus on four main areas:

Manufacturing competitive products: measure quality performance
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2 years ago

How do you feel at the beginning of the game as the facts about your situation flash on the screen? Do you think you can live 30

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Answer:

If you use the money reasonably and wisely, Yes, I think you can live 30 days with 1000 dollars in savings.

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1 year ago

Drag the tiles to the correct boxes to complete the pairs. Match each law with its benefit for consumers. Economic Growth and Re

kow [346]

Answer:

1. Economic Growth and Regulatory Paperwork Reduction Act - Consumer has less paperwork to go through to buy a new house

The Economic Growth and Regulatory Paperwork Reduction Act of 1996 (EGRPRA) is a law that requires that the regulatory bodies of Federal Deposit Insured Corporation insured institutions such as banks and savings organisations review the documents they require from said banks to see if there are any unnecessary requirements needed. This will translate to fewer paperwork for the customers of such banks who for instance seek a mortgage to buy a house.

2. Fair Credit Reporting Act - Consumer disputes financial information reported to a credit scoring company

The Fair Credit Reporting Act (FCRA) gives consumers the right to dispute the information reported to a credit scoring company. It also regulates how these companies are allowed to collect and share the acquired data.

3. Federal Deposit Insurance Act - The FDIC has the right to review companies for consumers

4. Children's Online Privacy Act - Consumer refuses to provide their five-year-old child's financial data to a company.

The Children's Online Privacy Protection Act was passed in 1998 as a means to allow parents to determine what information about their children that websites can collect. Children in this case refers to people under the age of 13.

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1 year ago

On October 29, 2017, Lobo Co. began operations by purchasing razors for resale. Lobo uses the perpetual inventory method. The ra

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Answer:

a. Nov 11, 2017

Dr Cash $4,900

Cr sales $4,900

Nov 30, 2017

Dr Warranty expense $294

Cr Estimated warranty Liabilities $294

Dec 9, 2017

Dr Estimated warranty Liabilities $196

Cr Cash $196

Dec 16, 2017

Dr Cash $14,700

Cr sales $14,700

Dec 29, 2017

Dr Estimated warranty Liabilities $392

Cr Cash $392

Dec 31, 2017

Dr Warranty expense $882

Cr Estimated warranty Liabilities $882

b. Jan 5,2018

Dr Cash $9,800

Cr Sales$9,800

Jan 17,2018

Dr Estimated warranty Liabilities $462

Cr Cash $462

Dec 31,2018

Dr Warranty expense $588

Cr Cash $588

Explanation:

a. Preparation of the journal entries to record above transactions and adjustments for 2017

Nov 11, 2017

Dr Cash $4,900

Cr sales $4,900

(Being to record razors sold for cash)

Nov 30, 2017

Dr Warranty expense $294

Cr Estimated warranty Liabilities $294

($4900*6%)

(Being to record warranty expense)

Dec 9, 2017

Dr Estimated warranty Liabilities $196

Cr Cash $196

(14 razors*14)

(Being to replaced 14 razors)

Dec 16, 2017

Dr Cash $14,700

Cr sales $14,700

(Being razors sold for cash)

Dec 29, 2017

Dr Estimated warranty Liabilities $392

Cr Cash $392

(28 razors*14)

(Being to replaced 28 razors)

Dec 31, 2017

Dr Warranty expense $882

Cr Estimated warranty Liabilities $882

($14,700*6%)

(Being to record warranty expense)

b. Preparation of the journal entries to record above transactions and adjustments for 2018

Jan 5,2018

Dr Cash $9,800

Cr Sales$9,800

(Being to record razors sold for cash)

Jan 17,2018

Dr Estimated warranty Liabilities $462

Cr Cash $462

(33 razors*14)

(Being to replaced 33 razors)

Dec 31,2018

Dr Warranty expense $588

Cr Cash

(6%*$9,800) $588

(Being to record warranty expense)

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1 year ago

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Answer:

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Explanation:

Native advertising refers to matching the form and function of the promotion with the medium it is being published. In other words, it is the type of advertising transmitted in a similar medium of what the product might be used for. Nowadays it is more commonly spread in social media and the products inherent with its use.

The Federal Trade Commission Act (FTC) is in charge of the advertising in the U.S. Along with the government, the FTC reviews deceiving promotion that does not link the content of the products offered with their true form. The Bureau of Consumer Protection is the body that enforces regulation on fraudulent marketing practices granted by the FTC.

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2 years ago