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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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…
Complete a and b thank you
Income statememt?
Sales Cost of goods sold Gross profit Fixed charges (other than interest) Income before interest and taxes Interest Income before taxes Taxes (35%) Income after taxes. LANCASTER CORPORATION a. What is the times-interest-earned ratio? Note: Round your answer to 2 decimal places. Times interest earned Fixed charge coverage times b. What would be the fixed-charge-coverage ratio? Note: Round your answer to 2 decimal places. times $ 259,000 209,000 $ 50,000 24,500 $ 25,500 19,000 $ 6,500 2,275 $ 4,225
6
Subject: accounting
what does the percentages mean in vertical analysis? Year 4 % of Sales Year 3 % of Sales Assets Current Assets Cash $ 40,000 6.67 $ 36,000 6.67 Marketable Securities 20000 3.33 6000 1.11 Accounts Receivable 54000 9.00 46000 8.52 Inventories 135000 22.50 143000 26.48 Prepaid Items 25000 4.17 10000 1.85 Total Assets current 274000 45.67 241000 44.63 Investments 27000 4.50 20000 3.70 plant net 270000 45.00 255000 47.22 Land 29000 4.83 24000 4.44 Total Assets $ 600,000 100.00 $ 540,000 100.00 Liabilities and Stock equity Liabilities Current Liabilities Notes payable $ 17,000 2.83 $ 6,000 1.11 Accounts payable 113800 18.97 100000 18.52 salaries payable 21000 3.50 15000 2.78 Total current liabilities 151800 25.30 121000 22.41 Noncurrent liabilities…