Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
XYZ Corporation has eight industry segments with sales, operating profit and loss, and identifiable assets at and for the year ended December 31, 2011, as follows:
Sales to Unaffiliated Customers
Sales to Affiliated Customers
Profit or (Loss)
Segment
Assets
Steel
$1,350,000
$150,000
$265,000
$2,250,000
Auto Parts
1,200,000
---
450,000
1,430,000
Coal Mine
600,000
(300,000)
Textiles
530,000
220,000
150,000
750,000
Paint
1,120,000
380,000
300,000
1,050,000
Lumber
710,000
(75,000)
Leisure Time
690,000
110,000
Electronics
670,000
Total
$6,800,000
$1,200,000
$8,400,000
Required:
A.Identify the segments, which are reportable segments under one or more of the 10 percent revenue, operating profit, or assets tests.
B.After reportable segments are determined under the 10 percent tests, they must be reevaluated under a 75 percent revenue test before a final determination of reportable segments can be made. Under this 75 percent test, identify if any other segments may have to be reported.
Kinney Company purchased a truck for $57,000. The company expected the truck to last four years or 100,000 miles, with an estimated residual value of $6,000 at the end of that time. During the second year the truck was driven 27,000 miles. Compute..
A decidable asset has an estimated 15% salvage value .at the end of its estimated useful life the accumulated will equal the original cost of the asset under which of the following methods
Each of the following would be reported as items of other comprehensive income except:
There was a favorable materials price variance of $380 and an unfavorable materials quantity variance of $120. Based on these variances, one could conclude that:
Journalize the partners initial investments and prepare the partnership balance sheet immediately after its formation on March 15.
identify the key steps in the closing process that provide the most opportunity to make mistakes in processing account
which of the following statements is not considered a disadvantage of the corporate form of organization?a.
BE10-10 Halloway Company has issued three different bonds during 2011. Interest is payable semiannually on each of these bonds.
1.what are the functional currencies of fords subsidiaries?2.how much and where did ford report the gain or loss on
Straight-line depreciation is used. Demers reported net income of $28,000 and $32,000 for 2006 and 2007, respectively. Compute the gain recognized by Demers Company relating to the equipment for 2006:
On January 1, 2010, Reston Co. purchased 25% of Ace Corp.'s common stock; no goodwill resulted from the purchase. Reston appropriately carries this investment at equity, and the balance in Reston's investment account was $720,000 at December 31, 2..
Very simple and high level, an S corp or an LLC
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd