The following figures have been extracted from the Profit & Loss statement of TVS Motors LtdParticulars Rs. In crores Particulars Rs. In crores Sale of products 25938 Power and fuel 154 Saleof services 69.28 Repairs - buildiings 95.62 Other operating revenue 370 Insurance 35.04 Dividendincome from subsidiaries 2.25 Audit fees 1.23 Profit on sale of property and equipment 2.82Property tax 5.59 Opening stock of: Freight inwards 500 Raw materials 625.26 CSR expenses 19Work - in - progress 43.07 Advertising and publicity expenses 329 Finished goods 278.72 Tax rate35% Purchases: Raw materials 19640 Stock in trade 378 Closing stock of: Raw materials 655.57Work-in - progress 46.06 Finished goods 255.24 Stock in trade 113.86 employee benefit expensesSalaries 1000 Wages 149.19 Contribution to provident fund and other funds 92.85 Staff welfareexpenses 103.05 Finance costs 140.66 Depreciation and amortization 631.23 Calculate using multistep ca

The objective of the question is to calculate the net profit of TVS Motors Ltd. using the given…

Answered: The following figures have been…

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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Lechon Company provided the following data for the current year: Sales Cost of goods sold Expenses Depreciation Income tax expense The entity has two major reportable segments, A and B. An analysis revealed that P1,000,000 of the total depreciation expense and P2,000,000 of the expenses are related to general corporate activities. The remaining expenses and sales are directly allocable to segment activities according to the following percentages: Sales Cost of goods sold Expenses Depreciation P60,000,000 28,000,000 14,000,000 4,000,000 4,000,000 Segment A 40% 35 40 40 Segment B 45% Others 15% 15 20 15 50 40 45 What amount should be reported as net income of Segment A?
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