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Thomas Railroad Company organizes its three divisions, the North (N), South (S), and West (W) regions, as profit centers. The chief executive officer (CEO) evaluates divisional performance, using operating income as a percent of revenues. following quarterly income and expense accounts were provided from the trial balance as of December 31: Revenues-N Region. Revenues-S Region Revenues-W Region) Operating Expenses-N Region Operating Expenses S Region Operating Expenses-W Region Corporate Expenses-Dispatching Corporate Expenses-Equipment Management Corporate Expenses-Treasurer's General Corporate Officers' Salaries The company operates three support departments: the Dispatching Department, the Equipment Management Department, and the Treasurer's Department. The Dispatching Department manages the scheduling and releasing of completed train The Equipment Management Department manages the railroad cars inventories. It makes sure the right freight cars are at the right place at the right time. The Treasurer's Department conducts a variety of services for the company as a whole The following additional information has been gathered: Number of scheduled trains Number of railroad cars in inventory Required: North 4,600 1,100 South Line Item Description Revenues. Operating expenses Operating income before support department allocations Support department allocations: $1,044,000 1,245,600 2,188,700 661,600 741,300 1,323,600 555,000 214,200 158,800 350,600 5,600 1,700 West 8,300 1,400 1. Prepare quarterly income statements showing operating income for the three regions. Use three column headings: North, South, and West. Do not round your interim calculations. Thomas Railroad Company Divisional Income Statements For the Quarter Ended December 31 North South West 4

Thomas Railroad Company organizes its three divisions, the North (N), South (S), and West (W) regions, as profit centers. The chief executive officer (CEO) evaluates divisional performance, using operating income as a percent of revenues. following quarterly income and expense accounts were provided from the trial balance as of December 31: Revenues-N Region. Revenues-S Region Revenues-W Region) Operating Expenses-N Region Operating Expenses S Region Operating Expenses-W Region Corporate Expenses-Dispatching Corporate Expenses-Equipment Management Corporate Expenses-Treasurer's General Corporate Officers' Salaries The company operates three support departments: the Dispatching Department, the Equipment Management Department, and the Treasurer's Department. The Dispatching Department manages the scheduling and releasing of completed train The Equipment Management Department manages the railroad cars inventories. It makes sure the right freight cars are at the right place at the right time. The Treasurer's Department conducts a variety of services for the company as a whole The following additional information has been gathered: Number of scheduled trains Number of railroad cars in inventory Required: North 4,600 1,100 South Line Item Description Revenues. Operating expenses Operating income before support department allocations Support department allocations: $1,044,000 1,245,600 2,188,700 661,600 741,300 1,323,600 555,000 214,200 158,800 350,600 5,600 1,700 West 8,300 1,400 1. Prepare quarterly income statements showing operating income for the three regions. Use three column headings: North, South, and West. Do not round your interim calculations. Thomas Railroad Company Divisional Income Statements For the Quarter Ended December 31 North South West 4

FINANCIAL ACCOUNTING
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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Thomas Railroad Company organizes its three divisions, the North (N), South (S), and West (W) regions, as profit centers. The chief executive officer (CEO) evaluates divisional performance, using operating income as a percent of revenues. Th following quarterly income and expense accounts were provided from the trial balance as of December 31: $1,044,000 1,245,600 2,188,700 661,600 741,300 1,323,600 555,000 214,200 158,800 350,600 Revenues-N Region Revenues-S Region Revenues-W Region Operating Expenses-N Region Operating Expenses-S Region Operating Expenses-W Region Corporate Expenses-Dispatching Corporate Expenses-Equipment Management Corporate Expenses-Treasurer's General Corporate Officers' Salaries The company operates three support departments: the Dispatching Department, the Equipment Management Department, and the Treasurer's Department. The Dispatching Department manages the scheduling and releasing of completed trains. The Equipment Management Department manages the railroad cars inventories. It makes sure the right freight cars are at the right place at the right time. The Treasurer's Department conducts a variety of services for the company as a whole. The following additional information has been gathered: Number of scheduled trains Number of railroad cars in inventory Required: North 4,600 1,100 South Line Item Description Revenues Operating expenses Operating income before support department allocations $ Support department allocations: 5,600 1,700 West 8,300 1,400 1. Prepare quarterly income statements showing operating income for the three regions. Use three column headings: North, South, and West. Do not round your interim calculations. Thomas Railroad Company Divisional Income Statements For the Quarter Ended December 31 North South West 4 Pr Previous Next
Transcribed Image Text:Thomas Railroad Company organizes its three divisions, the North (N), South (S), and West (W) regions, as profit centers. The chief executive officer (CEO) evaluates divisional performance, using operating income as a percent of revenues. Th following quarterly income and expense accounts were provided from the trial balance as of December 31: $1,044,000 1,245,600 2,188,700 661,600 741,300 1,323,600 555,000 214,200 158,800 350,600 Revenues-N Region Revenues-S Region Revenues-W Region Operating Expenses-N Region Operating Expenses-S Region Operating Expenses-W Region Corporate Expenses-Dispatching Corporate Expenses-Equipment Management Corporate Expenses-Treasurer's General Corporate Officers' Salaries The company operates three support departments: the Dispatching Department, the Equipment Management Department, and the Treasurer's Department. The Dispatching Department manages the scheduling and releasing of completed trains. The Equipment Management Department manages the railroad cars inventories. It makes sure the right freight cars are at the right place at the right time. The Treasurer's Department conducts a variety of services for the company as a whole. The following additional information has been gathered: Number of scheduled trains Number of railroad cars in inventory Required: North 4,600 1,100 South Line Item Description Revenues Operating expenses Operating income before support department allocations $ Support department allocations: 5,600 1,700 West 8,300 1,400 1. Prepare quarterly income statements showing operating income for the three regions. Use three column headings: North, South, and West. Do not round your interim calculations. Thomas Railroad Company Divisional Income Statements For the Quarter Ended December 31 North South West 4 Pr Previous Next
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