5 A company's segment (department) results for the year follow.Department B Department R$ 132,720$ 76,400SalesExpensesAvoidableUnavoidableTotal expensesIncome (loss)DepartmentDepartment BDepartment RDepartment SDepartment VDepartment X22,800106,800129,600$ 3,120Complete this question by entering your answers in the tabs below.Decision78,56028,400106,960$ (30,560)Required A Required BDepartment S$ 118,72048,00011,60059,600$ 59,120Department V$ 90,08031,20062,00093,200$ (3,120)Department X$ 62,080Required A Required BWhich department(s) will be eliminated if it is company policy to eliminate departments that have sales less than avoidablecosts?78,80022,800101,600$ (39,520)Total$ 480,000259,360231,600490,960$ (10,960)Calculate the total increase in income if the company eliminates departments with sales less than avoidable expenses.Total increase in income|

Name: 5 A company's segment (department) results for the year follow.Departm
Uploaded: 2024-03-05T11:47:04.000Z
Channel: Bartleby
Description: 5 A company's segment (department) results for the year follow.Department B Department R$ 132,720$ 76,400SalesExpensesAvoidableUnavoidableTotal expensesIncome (loss)DepartmentDepartment BDepartment RDepartment SDepartment VDepartment X22,800106,80012

Lets understand the basics.When department is having lesser revenue generated as compared to…

Business

Accounting

A company's segment (department) results for the year follow. Department R $ 76,400 Sales Expenses Avoidable Unavoidable Total expenses Income (loss) Department $ 132,720 22,800 Required A Required B $ 3,120 78,560 28,400 106,960 $ (30,560) Department S $ 118,720 48,000 $ 59,120 Complete this question by entering your answers in the tabs below. Department V $ 90,080 31,200 62,000 93,200 $ (3,120) Department X $ 62,000 78,800 22,800 $ (39,520) Total $ 480,000 259,360 231,600 $ (10,960)

A company's segment (department) results for the year follow. Department R $ 76,400 Sales Expenses Avoidable Unavoidable Total expenses Income (loss) Department $ 132,720 22,800 Required A Required B $ 3,120 78,560 28,400 106,960 $ (30,560) Department S $ 118,720 48,000 $ 59,120 Complete this question by entering your answers in the tabs below. Department V $ 90,080 31,200 62,000 93,200 $ (3,120) Department X $ 62,000 78,800 22,800 $ (39,520) Total $ 480,000 259,360 231,600 $ (10,960)

College Accounting, Chapters 1-27

23rd Edition

ISBN:9781337794756

Author:HEINTZ, James A.

Publisher:HEINTZ, James A.

Chapter25: Departmental Accounting

Section: Chapter Questions

Problem 9SPB

See similar textbooks

Similar questions

Multiple-step income statement The following income statement for Curbstone Company was prepared for the year ended August 31, 20Y5: a. Identify the errors in the income statement. b. Prepare a corrected income statement.
Divisional income statements The following data were summarized from the accounting records for Vintage Construction Company for the year ended October 31, 20Y3. Prepare divisional income statements for Vintage Construction Company.
For item 5. An SME has the following informationRetained Earnings P 2,400Transactions during the yearRevenues 5,000Dividend Income 800Dividend income and other expenses 3,200Dividend Declared P 350Additional information:• During the year, the SME changed the cost flow for its inventories from the FIFO method to theweighted average.FIFO AverageJan. 1 P 3,200 P 2,600December 31 5,300 6,4005. If the SME opts present a statements of income and retained earnings, the bottom line in thestatement shows an amount equal toa. P2,600 b. P2,850 c. P4,550 d. P4,050
QUESTION 1The following are extracts of the income statement and the statement of financial position forMorula Industries.STATEMENT OF INCOME FOR THE YEAR ENDED 31 DECEMBER 2019PulaSales 500,000Less Cost of sales:Opening inventory 120,000Purchases 415,000Cost of goods available for sale 535,000Closing inventory (115,000) (420,000)Gross profit 80,000Operating expenses (40,000)Net surplus for the year 40,000 STAMENT OF FINANCIAL POSITION AS AT 31 DECEMBER 2019PulaCurrent assetsInventory 115,000Receivables 133,000Bank overdraft 124,000Current LiabilitiesPayables 96,000Capital and reservesShare capital 70,000General reserve 110,000Retained profit 110,000Additional Information The receivables and payables opening balances were P50, 000 each. All sales and purchases were made on credit.Required:a. Calculate the:i. Average payment period. ii. Average age of inventory. iii. Average collection period. iv. Cash conversion cycle. b. Explain five strategies that can improve the cash conversion…
Company discloses supplemental operating segment information. The following information is available for the current year: segment Sales Traceable expenses X 5,000,000 3,000,000 Y 4,000,000 2,500,000 z 3,000,000 1,500,000 12,000,000 7,000,000 Addl: expenses as follows: Indirect expenses 1,800,000 General Corporate Expenses 1,200,000 Interest expense 600,000 Income tax expense 400,000 The interest expense and income tax expense are regularly review by the chief operating decision marker as a measure of profit or loss. Appropriate common expenses are allocated to segments based on the ratio of a segment’s sales to total sales. 5. What is segment Z’s profit for the current year?
Two income statements for Cornea Company follow: Cornea Company Income Statements For the Years Ended December 31 20Y9 20Y8 Fees earned $1,570,000 $1,280,000 Expenses (832,100) (768,000) Net income $737,900 $512,000 Required: a. Prepare a vertical analysis of Cornea Company’s income statements. If required, round your percentage to the nearest whole number.
Financial statementsThe assets and liabilities of Global Travel Agency on December 31, 20Y5.and its revenue and expenses for the year are as follows: Accounts payableAccounts receivableCashCommon stockFees earnedLandMiscellaneous expense Rent expenseSuppliesSupplies expenseUtilities expenseWages expense $ 108,000539,000200,000575,000940,0001,500,000$ 19,50056,0006,00012,70034,80415,000 Common stock was $525,000 and retained earnings was $1,250,000 as ofJanuary 1. 20Y5. During the year, additional common stock of $50,000was issued for cash, and dividends of $90,000 were paid. Instructions1. Prepare an income statement for the year ended December 31.20Y5.2. Prepare a statement of stockholders' equity for the year ended December 31. 2015.3. Prepare a balance sheet as of December 31, 20Y5.4. What items appears on both the statement of stockholders'equity and the balance sheet?
Prepare the Pro-Forma Statement of Financial Position for the year ending 31 December 2023 INFORMATIONSibiya ProjectsStatement of Comprehensive Income for the year ended 31 December 2022 RSales 10 000 000Cost of sales (5 750 000)Gross profit 4 250 000Variable, selling and administrative costs (1 500 000)Fixed selling and administrative costs (500 000)Net profit 2 250 000 Statement of Financial Position for the year ended 31 December 2022ASSETS RNon-current assets 800 000Property, plant and equipment 800 000 Current assets 3 400 000Inventories 1 600 000Accounts receivable 600 000Cash 1 200 000TOTAL ASSETS 4 200 000 EQUITY AND LIABILITIESEquity 3 760 000 Current liabilities 440 000Accounts payable 440 000TOTAL ASSETS AND LIABILITIES 4 200 000 Additional informationA. The sales budget for 2023 is as follows:First Quarter Second Quarter Third Quarter Fourth QuarterR2 625 000 R2 750 000 R2 875 000 R2 750 000 B. 90% of sales is collected in the quarter of the sale and 10% in the quarter…
Question 1The following information was extracted from the financial statement of Barryfor the year ended 31 December 2020. RMSales 437,500Opening inventories 17,500Closing inventories 26,250Cost of sales 262,500Other income 3,750Expenses 61,250Current liabilities 47,250Trade receivables 39,375Bank 8,750Cash 31,500 (b) Calculate the following ratios of Barry Sdn Bhd for the year ended 31December 2020. (iv) Inventories turnover days(v) Trade receivables turnover days
Nabb & Fry Co. reports net income of $25,000. Interest allowances are Nabb $5,000 and Fry$4,000, salary allowances are Nabb $14,000 and Fry $10,000, and the remainder is sharedequally. Show the distribution of income. (If an amount reducesthe account balance then enter with anegative sign preceding the number e.g. -15,000 or parenthesis e.g. (15,000).)Division of NetIncomeNabb FrySalary allowance $ $ $InterestallowanceRemainingexcess/deficiencyTotal division ofnet income$
Compute NOPAT The income statement for TJX Companies follows. THE TJX COMPANIES, INC. Consolidated Statements of Income Fiscal Year Ended ($ thousands) February 2, 2019 Net sales $38,973,337 Cost of sales, including buying and occupancy costs 27,831,580 Selling, general and administrative expenses 6,923,967 Pension settlement charge 36,525 Interest expense, net 9,263 Income before provision for income taxes 4,172,002 Provision for income taxes 1,113,816 Net income $3,058,186 Assume that the combined federal and state statutory tax rate is 22%. a. Compute NOPAT using the formula: NOPAT = Net income + NNE. Net income NNE NOPAT Answer Answer b. Compute NOPAT using the formula: NOPAT = NOPBT − Tax on operating profit. NOPBT Tax on operating profit NOPAT Answer Answer
Use the following information (in thousands):Service Revenue¥1,600,000 Income from continuing operations200,000 Net Income180,000 Income from operations440,000 Selling & administrative expenses1,000,000 Income before income tax400,000Determine the amount of other income and expense