E22-11 UrLink Company is a newly formed company specializing in high-speed Internet Prepare and discuss aservice for home and business. The owner, Lenny Kirkland, had divided the company into responsibility report.two segments: Home Internet Service and Business Internet Service. Each segment is runby its own supervisor, while basic selling and administrative services are shared by bothsegments.Lenny has asked you to help him create a performance reporting system that willallow him to measure each segment's performance in terms of its profitability. To that end,the following information has been collected on the Home Internet Service segment forthe first quarter of 2017.(LO 2, 3), AP04 22 Budgetary Control and Responsibility AccountingBudget$25,000ActualService revenueAllocated portion of:Building depreciationAdvertisingBillingProperty taxesMaterial and suppliesSupervisory salariesInsuranceWagesGas and oil$26,20011,0005,0003,5001,2001,6009,0004,0003,0002,8001,50011,0004,2003,0001,0001,2009,5003,9003,2503,4001,300Equipment depreciationInstructions(a) Prepare a responsibility report for the first quarter of 2017 for the Home InternetService segment.(b)used when preparing performance reports.Write a memo to Lenny Kirkland discussing the principles that should be

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1,300 Instructions (a) Prepare a responsibility report for the first quarter of 2017 for the Home Internet Service segment. (b) used when preparing performance reports. Write a memo to Lenny Kirkland discussing the principles that should be

1,300 Instructions (a) Prepare a responsibility report for the first quarter of 2017 for the Home Internet Service segment. (b) used when preparing performance reports. Write a memo to Lenny Kirkland discussing the principles that should be

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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