The following financial information was su....financial accounting question The following financial information was summarized from the accounting records of TrainCorporation for the current year ended December 31:Rails Division Locomotive DivisionCorporate TotalCost of goods sold$47,200$30,720Direct operating expenses 27,20020,040Net sales98,00068,000Interest expense$2,040General overhead18,1604,700Income taxThe income from operations for the Rails Division is:a. $5,800b. $23,600c. $13,240d. $33,280

Step 1: Define Income From OperationsIncome from operations can be said as profit before…

Answered: The following financial information was…

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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The following financial information was summarized from the accounting records of Train Corporation for the current year ended December 31: Locomotive Division Cost of goods sold Direct operating expenses Sales Interest expense General overhead. Income tax Rails Division $ 47,200 27,200 108,000 The income from operations for the Rails Division is O $21,150 Ob. $33,600 O $8,700 O d. $60,800 $30,720 20,040 78,000 Corporate Total $2,040 18,160 4,700
The following financial information was summarized from the accounting records of Train Corporation for the current year ended December 31: RailsDivision LocomotiveDivision CorporateTotal Cost of goods sold $47,100 $28,300 Direct operating expenses 27,400 21,300 Sales 93,600 69,000 Interest expense $2,300 General overhead 19,600 Income tax 4,200 The gross profit for the Locomotive Division is a.$69,000 b.$40,700 c.$47,700 d.$19,400
The following financial information was summarized from the accounting records of Train Corporation for the current year ended December 31: Rails Locomotive Corporate Division Division Total Cost of goods sold $46,200 $28,800 Direct operating expenses 27,400 21,700 Sales 90,700 67,400 Interest expense $2,600 General overhead 19,600 Income tax 4,000 The gross profit for the Rails Division is Oa. $63,300 Ob. $17,100 Oc. $44,500 Od. $90,700
The following financial information was summarized from the accounting records of Train Corporation for the current year ended December 31: RailsDivision LocomotiveDivision CorporateTotal Cost of goods sold $45,900 $29,900 Direct operating expenses 26,300 21,000 Sales 90,700 66,700 Interest expense $3,000 General overhead 19,100 Income tax 4,100 The income from operations for the Rails Division is a.$64,400 b.$44,800 c.$90,700 d.$18,500
The following financial information was summarized from the accounting records of Train Corporation for the current year ended December 31: RailsDivision LocomotiveDivision CorporateTotal Cost of goods sold $46,700 $29,300 Direct operating expenses 26,400 20,400 Sales 98,200 69,700 Interest expense $2,200 General overhead 19,900 Income tax 4,500 The net income for Train Corporation is a.$73,800 b.$91,900 c.$18,500
The following financial information was summarized from the accounting records of Train Corporation for the current year ended December 31: Rails Division Locomotive Division Corporate Total Cost of goods sold $45,400 $28,200 Direct operating expenses 27,600 22,400 Sales 99,800 66,800 Interest expense $2,000 General overhead 18,100 Income tax 4,200 The gross profit for the Locomotive Division is
Use this information for Train Corporation to answer the question that follow. The following financial information was summarized from the accounting records of Train Corporation for the current year ended December 31: Rails Locomotive Corporate Division Division Total Cost of goods sold $45,300 $28,700 Direct operating expenses 26,600 21,200 Sales 95,400 67,600 Interest expense $2,500 General overhead 18,500 Income tax 4,300 The net income for Train Corporation is Oa. $15,900 Ob. $89,000 Oc. $41,200 Od. $72,600 Previous Next 7:33 PM CP 12/13/2020
Use this information for Train Corporation to answer the question that follow.The following financial information was summarized from the accounting records of Train Corporation for the current year ended December 31: RailsDivision LocomotiveDivision CorporateTotal Cost of goods sold $ 47,200 $30,720 Direct operating expenses 27,200 20,040 Sales 108,000 78,000 Interest expense $ 2,040 General overhead 18,160 Income tax 4,700 The net income for Train Corporation is
The following financial information was summarized from the accounting records of Train Corporation for the current year ended December 31: Rails Locomotive Corporate Division Division Total Cost of goods sold $47,000 $32,000 Direct operating expenses 27,500 21,000 Sales 98,300 65,300 Interest expense $2,900 General overhead 18,400 Income tax 4,400 The net income for Train Corporation is Oa. $10,400 Ob. $36,100 Oc. $84,600 Od. $75,500
The following financial information was summarized from the accounting records of Train Corporation for the current year ended December 31: Rails Division Locomotive Division Corporate Total Cost of goods sold $47,400 $31,900 Direct operating expenses 26,800 22,900 Sales 92,800 65,300 Interest expense $2,900 General overhead 19,100 Income tax 4,500 The income from operations for the Locomotive Division is
Use this information for Train Corporation to answer the question that follow. The following financial information was summarized from the accounting records of Train Corporation for the current year ended December 31: RailsDivision LocomotiveDivision CorporateTotal Cost of goods sold $46,100 $30,900 Direct operating expenses 26,000 22,500 Sales 91,500 67,000 Interest expense $3,000 General overhead 18,700 Income tax 4,200 The income from operations for the Locomotive Division is a.$36,100 b.$44,500 c.$67,000 d.$13,600

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