17 Data for January for Bondi Corporation and its two major business segments, North and South, appear below Sales revenues, North $ 660,000 Variable expenses, North $ 383,000 $ 79,000 Traceable fixed expenses, North Sales revenues, South Variable expenses, South Traceable fixed expenses, South In addition, common fixed expenses totaled $179.000 and were allocated as follows: $93,000 to the North business segment and $86.000 to the South business segment. A properly constructed segmented income statement in a contribution format would show that the net operating income of the company as a whole is Multiple Choice $(7,000) $172,000 $351,000 $ 510,000 $ 291,000 $ 66,000 $496,000

17 Data for January for Bondi Corporation and its two major business segments, North and South, appear below Sales revenues, North $ 660,000 Variable expenses, North $ 383,000 $ 79,000 Traceable fixed expenses, North Sales revenues, South Variable expenses, South Traceable fixed expenses, South In addition, common fixed expenses totaled $179.000 and were allocated as follows: $93,000 to the North business segment and $86.000 to the South business segment. A properly constructed segmented income statement in a contribution format would show that the net operating income of the company as a whole is Multiple Choice $(7,000) $172,000 $351,000 $ 510,000 $ 291,000 $ 66,000 $496,000

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter5: The Income Statement And The Statement Of Cash Flows

Section: Chapter Questions

Problem 1RE: Brandt Corporation had sales revenue of 500,000 for the current year. For the year, its cost of...

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Data for January for Bondi Corporation and its two major business segments, North and South, appear below. Sales revenues, North Variable expenses, North Traceable fixed expenses, North Sales revenues, South Variable expenses, South Traceable fixed expenses, South $ 620,000 $ 359,700 $ 74,100 $ 478,400 $ 273,000 $ 61,900 In addition, common fixed expenses totaled $167,800 and were allocated as follows: $87,100 to the North business segment and $80,700 to the South business segment. A properly constructed segmented income statement in a contribution format would show that the segment margin of the North business segment is:
In the income statement for the current year, JK Company reported revenue P50,000,000, excluding intersegment sales P10,000,000, expenses P47,000,000 and net income P3,000,000. Expenses included payroll costs of P15,000,000. The combined identifiable assets of all operating segments at year-end totaled P40,000,000. What is the minimum amount of sales to be a major customer?
Z Company provided the following information pertaining to operating segments for the year ended December 31, 2020: Total revenue: P 80,000,000 Sales to internal customers included in total revenue: P 50,000,000 External revenue reported by reportable operating segments must be at least what amount?
The following are the details from the income statements of division S and division C for the year ending March 2014. Figures in TZS "000" Sales revenue 100,000 64,000 6,000 120,000 75,000 10,000 150,000 Operating cost Interest cost Capital invested 122,000 Capital invested include debt WACC 10% 12.5% Rate of corporate tax 40% 44% Required: Calculate NOPAT as adjusted for EVA and also calculate EVA for both the divisions. Which Division performed better?
Waller Company does business in two regional segments: North and South. The following annual revenue information was determined from the accounting system's invoice data: Current Year Prior Year Segment North South $ 80,000 260,000 $100,000 200,000 Total revenues $340,000 $300,000 Using horizontal analysis, determine the percentage change in revenues for the North region. Round to one decimal place. Oa. (20.0)% Ob. (22.4)% Oc. 22.4% Od. 20.0%
5. Data for June for Ozaki Corporation and its two major business segments, North and South, appear below: Sales revenues, North. $550,000 Variable expenses, North. $270,000 Traceable fixed expenses, North $88,000 Sales revenues, South $110,000 Variable expenses, South $47,000 Traceable fixed expenses, South........ $21,000 In addition, common fixed expenses totaled $145,000 and were allocated as follows: $73,000 to the North business segment and $72,000 to the South business segment. A properly constructed segmented income statement in a contribution format would show that the segment margin of the North business segment is: A. $270,000 B. $119,000 C. $207,000 D. $192,000
Snelling Company does business in two regional segments: North and South. The following annual revenue information was determined from the accounting system's invoice data: Segment Current Year Prior Year North $ 75,000 $100,000 South 260,000 220,000 Total revenues $335,000 $320,000 Using horizontal analysis, determine the percentage change in revenues for the South region. Round to one decimal place. Oa. (18.2)% Ob. 84.6% Oc. 15.4% Od. 18.2%
The following information has been assembled about Casbar Corp. as at December 31, Year 5 (amounts are in thousands): Operating segment Revenues Profit Assets $25,100 5,980 23,200 A $ 23,000 $ 6,400 B 15,100 C 16,000 (2,540) 16,100 D 4,700 1,100 9,550 E F 15,000 5,100 1,800 8,950 (380) 4,700 Required: Determine which operating segments require separate disclosures. (Round the intermediate calculations to nearest percentage.) Operating segment(s) (Click to select)
The balance sheet of ATLF, Inc. reports total assets of $1,950,000 and $2,050,000 at the beginning and end of the year, respectively. Net income and sales for the year are $150,000 and $1,000,000, respectively. What is ATLF's profit margin? Select one: a. 10% Ob. 8% O c. 7.5% O d. 15% e. 12%
Colorway Inc. had total assets of P65,000,000 at year end and provided the following condensed income statement for the current year: Sales 45,000,000 Expenses (33,000,000) Income before income tax 12,000,000 Income tax expense (3,800,000) Net Income 8,200,000 The entity has two reportable segments and has developed the following related information: Segment A Segment B Others Sales 25,000,000 15,000,000 5,000,000 Segment expenses 18,000,000 9,000,000 4,000,000 Segment assets 35,000,000 18,000,000 7,000,000 The total assets of P65,000,000 include general corporate assets of P5,000,000. The total segment expenses of P33,000,000 include general corporate expenses of P2,000,000. The chief operating decision maker does not allocate income tax as a measure of profit or loss. Required: 1 Prepare the necessary disclosures for Colorway Inc. in relation to operating segments. 2 Prepare the reconciliations between segment information and amount shown in the entity's financial statements.
Company discloses supplemental operating segment information. The following information is available for the current year: segment Sales Traceable expenses X 5,000,000 3,000,000 Y 4,000,000 2,500,000 z 3,000,000 1,500,000 12,000,000 7,000,000 Addl: expenses as follows: Indirect expenses 1,800,000 General Corporate Expenses 1,200,000 Interest expense 600,000 Income tax expense 400,000 The interest expense and income tax expense are regularly review by the chief operating decision marker as a measure of profit or loss. Appropriate common expenses are allocated to segments based on the ratio of a segment’s sales to total sales. 5. What is segment Z’s profit for the current year?
Tubaugh Corporation has two major business segments-East and West. In December, the East business segment had sales revenues of $390,000, variable expenses of $210,000, and traceable fixed expenses of $46,000. During the same month, the West business segment had sales revenues of $1,060,000, variable expenses of $540,000, and traceable fixed expenses of $203,000. The common fixed expenses totaled $314,000 and were allocated as follows: $157,000 to the East business segment and $157,000 to the West business segment. The contribution margin of the West business segment is: Multiple Choice $520,000 O $(39,000) O $717,000 O $134,000