Divisional Income Statements The following data were summarized from the accounting records for Ruiz Industries Inc. for the year ended November Cost of goods sold: Support department allocations: Commercial Division Residential Division Administrative expenses: Commercial Division Residential Division $419,830 195,920 $76,330 69,970 Operating income Commercial Division Residential Division Sales: Commercial Division Residential Division Prepare divisional income statements for Ruiz Industries Inc. Sales Cost of goods sold Gross profit Administrative expenses Operating income before support department allocations Support department allocations $57,250 33,940 $636,100 349,860 Ruiz Industries Inc. Divisional Income Statements For the Year Ended November 30, 2018 Commercial Division Residential Division

Q: Define Assigning.

A: Assigning is a process of assignment. Assignment means a transfer of a right to receive a…

Q: Define and expain

A: Detailed Explanation of Nursing1. Patient Care:Direct Care: Nurses provide hands-on care to…

Q: Show how to insert formula in excel

A: Perpetuity: It is a stream of cash flow that is presumed to continue for an indefinite period.

Q: For what reasons is the NPV technique preferable to IRR?

A: The Net Present Value (NPV) technique is a financial evaluation method used to assess the…

Q: What does the blank section post mean or what goes there

A: Post Column : It is the Column through which book keeper identify whether journal entries are…

Q: answer is incorrect, pls recheck

A: Statement of Comprehensive Income: Comprehensive income is a measure of the changes in owners'…

Q: In a data visualization, the vertical axis typically shows __________.   Multiple Choice   values…

A: A column chart will include data labels along the horizontal (X) axis with measured metrics or…

Q: B. Working trial ba C. Control accoun

A: The correct answer is  a. Lead schedule

Q: State the meaning of incomplete records?

A: Accounting refers to the process through which the financial transactions related to a business are…

Q: Define management by exception.

A: Management by exceptions: Management by exceptions determines that the managers should not focus if…

Q: Fill out the missing column

A: Net revenue = Gross profit + Cost of goods sold = 511000+673400 = $1184400 Operating expense = Net…

Q: What exactly are reversing entries, and why do we need them?

A: Journal entry is the entry which is made at the date on which the transaction which relates to the…

Q: Identify the minimum cardinality of any REA diagram relationship. O or 1. O or N. 1 or N. None of…

A: Cardinality describes the nature of the relationship between two entities. It refers to the number…

Q: Explain an example of source documents.

A: Source documents: The documents which contain evidence of accounting data to record the transactions…

Q: no entry is required, select "No Entry for the account titles and enter O for the amounts. Credit…

A: Perpetual inventory system is used for recording the transactions related to the purchase and sale…

Q: How can forwardrates be used for hedging purposes?

A: SOLUTION:- Risk management is the main stimulus for forward contracts. Forward contract is a…