How many are the reportable segments of the entity? .Information on an entity's operating segments is shown below:Profit/(loss)IdentifiableOperatingsegmentsRubySapphireEmeraldDiamondTotal revenueassets1,000,000700,000 (P300,000550,000 P250,000)40,0004,000,0001,500,000800,0005,500,00011,800,000PP(P(P4,000,0002,000,000900,000)Total560,000) P

If any segment qualifies any of following limit , then such a segment is called reportable segment .…

Information on an entity's operating segments is shown below: Operating segments Ruby Sapphire Emerald Total revenue Profit/(loss) Identifiable assets 1,000,000 700,000 (P 300,000 2,000,000 (P 4,000,000 550,000 P 250,000) 40,000 900,000) 560,000) P P 4,000,000 1,500,000 800,000 5,500,000 11,800,000 Diamond Total (P

Information on an entity's operating segments is shown below: Operating segments Ruby Sapphire Emerald Total revenue Profit/(loss) Identifiable assets 1,000,000 700,000 (P 300,000 2,000,000 (P 4,000,000 550,000 P 250,000) 40,000 900,000) 560,000) P P 4,000,000 1,500,000 800,000 5,500,000 11,800,000 Diamond Total (P

Survey of Accounting (Accounting I)

8th Edition

ISBN:9781305961883

Author:Carl Warren

Publisher:Carl Warren

Chapter9: Metric-analysis Of Financial Statements

Section: Chapter Questions

Problem 9.17E: Profitability metrics The following selected data were taken from the financial statements of The...

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The following provides information on the segments that have been identified by Bernard Productions: Total Revenue Operating Segments (Unaffiliated) Profit (Loss) Identifiable Assets A $429,000 $34,000 $800,000 B 355,800 (36,000) 650,000 C 95,400 2,000 108,000 D 90,000 3,000 75,000 Which of the segments listed above would information have to be disclosed in accordance with GAAP?
The worksheet of Entity A shows the following amount. How much is the net income/(net loss)? a. P 252,000 b. (P 252,000) c. P 155,000 d. P 121,000
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Prepare an income statement with the information listed below: Accumulated Depreciation $ 35,000Accounts Payable $ 65,000Advertising Expense $ 20,625Prepaid Advertising $ 61,875Common Stock $ 50,000Depreciation Expense $ 12,500Dividend Payable $ 50,000Dividends $ 100,000Income Tax expense $ 48,000Income Tax Payable $ 35,000Interest Expense $ 3,750Interest Revenue $ 500Loss on Disposal of Assets $ 10,000Prepaid Rent $ 56,250Rent Expense $ 18,750Retained Earnings $ 836,875Sales Revenue $ 300,000Utilities Expense $ 8,750Utilities Payable $ 7,000Wage Expense $ 41,250Wages Payable $ 10,125
Use the following information for the next two questions:The following items were presented for the purpose of determining comprehensive income. Profit for the year 2,000Increase in revaluation surplus 1,000Remeasurements of the net defined benefit liability (asset) - loss (200)Net change in translation of foreign operation (400)Dividends declared (100)Stock rights 300 a. How much is the other comprehensive income?b. How much is the total comprehensive income?
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An entity reported the following segment profit or loss for the current year Segment 1 7,000,000 profit Segment 2 3,000,000 profit Segment 3 4,000,000 loss Segment 4 1,000,000 profit Segment 5 500,000 loss What are the reportable segments? a. SEGMENT 1,2,3,4 and 5 b. SEGMENT 1 and 2 c. SEGMENT 1,2 and 3 d. SEGMENT 1,2,3 and 4
An entity reported the following assets and liabilities at year-end: Carrying amount Tax base Property 10,000,000 7,000,000 Plant and equipment 5,000,000 4,000,000 Inventory 2,500,000 4,000,000 Accounts receivable 2,500,000 3,000.000 Liabilities 6,000,000 5,500,000 The entity had made a provision for inventory obsolescence of P1,500,000. Further, an impairment loss against accounts receivable of P500,000 has been made. The tax rate is 30%. What amount should be reported a deferred tax asset??
An entity reported the following assets and liabilities at year-end: Carrying amount Tax base Property 10,000,000 7,000,000 Plant and equipment 5,000,000 4,000,000 Inventory 2,500,000 4,000,000 Accounts receivable 2,500,000 3,000.000 Liabilities 6,000,000 5,500,000 The entity had made a provision for inventory obsolescence of P1,500,000. Further, an impairment loss against accounts receivable of P500,000 has been made. The tax rate is 30%. What amount should be reported as deferred tax liability?
An entity has the following income and expenditure for the financial year: Sales R33 000; Rent expenses R11 000; Interest income R1 000; Insurance R1 500. The net profit or the net loss of the entity is … NB: Instructions 1. Use a full stop to indicate any decimals (eg: 1000.01) 2. Only show the amount, do not show the R (eg: 12141.72) 3. If it is a loss, please enter the amount as a negative (eg: -12141.72)
The general ledger trial balance of a Corporation includes the following accounts at Dec. 31, 2021: Sales revenue 2,300,000Sales returns 90,000General administrative expenses 100,000Cost of sales 1,200,000Interest income 50,000Unrealized loss on financial assets at FVTOCI 10,000Proceeds on sale of equipment 100,000Carrying value of the equipment 120,000Selling and distribution expenses 70,000Income tax expense 125,000Net loss from discontinued operations 1,500,000Carrying amount of disposal group 7,500,000Fair value less costs to sell of disposal group 7,000,000 [Q6]: Determine the total amount of (19) profit or (loss) from continuing operations and (20) total profit or (loss) assuming a 35% tax rate.