12. Sales to unaffiliated customers Sales intersegment Loan interest income - intersegment Loan interest income - unaffiliated Income from equity method investees Wholesale Segment $3,600 400 -0- -0- -0- a. a) Wholesale, $3,600; Retail, $1,500; Finance, $ -0- b. b) Wholesale, 4,000; Retail, 1,740; Finance, -0- Revenue test (dollars in thousands) Retail Finance Segment Segment $1,500 c. c) Wholesale, 4,000; Retail, 1,980; Finance, 980 d. d) Wholesale, 4.000: Retail, 2.380: Finance, 980 240 120 240 280 $-0- -0- 900 80 Determine the amount of revenue for each of the three segments that would be used to identify the reportable industry segments in accordance with the revenues test specified by ASC 280. -0-

12. Sales to unaffiliated customers Sales intersegment Loan interest income - intersegment Loan interest income - unaffiliated Income from equity method investees Wholesale Segment $3,600 400 -0- -0- -0- a. a) Wholesale, $3,600; Retail, $1,500; Finance, $ -0- b. b) Wholesale, 4,000; Retail, 1,740; Finance, -0- Revenue test (dollars in thousands) Retail Finance Segment Segment $1,500 c. c) Wholesale, 4,000; Retail, 1,980; Finance, 980 d. d) Wholesale, 4.000: Retail, 2.380: Finance, 980 240 120 240 280 $-0- -0- 900 80 Determine the amount of revenue for each of the three segments that would be used to identify the reportable industry segments in accordance with the revenues test specified by ASC 280. -0-

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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D. Return on Common Shareholders' Equity Net Income-preferred Dividends / Average Common Shareholders' Equity E. Accounts Receivables Turnover Net Credit Sales/Average Accounts Receivable F. Merchandise Inventory Turnover Cost of Goods Sold/ Average Inventory d. Return on Common Stockholders’ Equitye. Accounts Receivables Turnoverf. Merchandise Inventory Turnover
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Prepare SCI using multi-step approach
6. 131 3) Northern Industries accepted a credit card sale for $14,000. The credit card company charges 2%. a. What is the entry for this transaction on the horizontal equation? b. What is the impact of collecting the payment from the credit card company? (Show the individual accounts impacted in the asset section) Assets Liabilities Stockholders' Equity Revenues Expenses Net Income Cash %3D Flow a. b. 4) Here are the inventory purchases and sales for Fraser Company: Inventory Layers Available for Sale: October 1 Beginning Inventory 14 @ $16 $224 9. Study guide - Chapter 5 (with solutions).docx 19 f12 Oly prt sc 114
EAST COAST YACHTS 2020 Income Statement Sales Cost of goods sold Selling, general, and administrative Depreciation EBIT Interest expense EBT Taxes (25%) Net income Dividends Retained earnings $550,424,000 397,185,000 65,778,000 17,963,000 $ 69,498,000 9,900,000 $ 59,598,000 14,899,500 $ 44,698,500 $ 19,374,500 25,324,000 Current assets Cash and equivalents Accounts receivable Inventory Other Total current assets Fixed assets Property, plant, and equipment Less accumulated depreciation Net property, plant, and equipment Intangible assets and others Total fixed assets Total assets EAST COAST YACHTS 2020 Balance Sheet $ 10,107,000 16,813,300 18,135,700 1,054,900 $ 46,110,900 $412,032,000 (102,452,000) $309,580,000 6,772,000 $316,352,000 $362,462,900 Current liabilities Accounts payable Accrued expenses Total current liabilities Long-term debt Total long-term liabilities Stockholders' equity Preferred stock Common stock Capital surplus Accumulated retained earnings Less treasury stock…
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OkyOTcw/a/MjUwNDEyNDM20TEx/details Particulars Credit (RM) 48,400 Debit (RM) Capital Drawings Trade receivables Trade payables Sales Purchases Sales returns Purchases retums Wages and salaries Discounts allowed Discounts received Provision for doubtful debts Insurance Inventory as at 1 September 2018 Utilities 3,500 9,000 12,500 40,400 31,000 300 250 5,600 120 200 300 700 2,400 950 350 10,000 3,000 20,000 Rates Premises Fixtures and fittings Motor van Cash in hand Cash at bank TOTAL 330 14,800 102.050 102.050 Additional information as at 31 August 2019: i. Inventory as at 31 August 2019 amounted RM3,300 ii. An entity from whom there is accounts receivables of RM200 was unable to settle his debt and this amount is to be written off as bad debts. iii. The provision for doubtful debts is 1% of the outstanding trade receivables. iv. The owner took RM100 worth of goods from the business for his own use Required: a) Statement of Profit or Loss and Others Comprehensive Income for the year…
Income statememt?
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6
Subject: accounting
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