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Segmented income statement in the contribution format.
Fausnaught Corporation has two major business segments -Retail and Wholesale. In October, the Retail business segment had sales revenues of $730,000, variable expenses of $409,000, and traceable fixed expenses of $117,000. During the same month, the Wholesale business segment had sales revenues of $400,000, variable expenses of $220,000, and traceable fixed expenses of $48,000. Common fixed expenses totaled $218,000, and were allocated as follows: $122,000 to the Retail business segment and $96,000 to the Wholesale business segment.
Prepare a segmented income statement in the contribution format for the company. Omit percentages; show dollar amounts.
Journalize the transactions and the adjusting entries - Recorded depreciation on the remaining truck. It has an estimated residual value of $15,000 and an estimated useful life of 10 years.
question q1. willkom corporation bought 100 percent of szabo inc. on 1st january 2011. on that date willkoms equipment
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