Rainee Corporation's revenue for the current year were as follows: Consolidated revenue per income statement P1,200,000 Intersegment sales 180,000 Intersegment transfers 60,000 Combined revenues of all operating segments P1,440,000 Rainee has a reportable segment if that operating segment's revenues is at least_

Rainee Corporation's revenue for the current year were as follows: Consolidated revenue per income statement P1,200,000 Intersegment sales 180,000 Intersegment transfers 60,000 Combined revenues of all operating segments P1,440,000 Rainee has a reportable segment if that operating segment's revenues is at least_

Accounting (Text Only)

26th Edition

ISBN:9781285743615

Author:Carl Warren, James M. Reeve, Jonathan Duchac

Publisher:Carl Warren, James M. Reeve, Jonathan Duchac

Chapter17: Financial Statement Analysis

Section: Chapter Questions

Problem 17.3CP: Vertical analysis The condensed income statements through income from operations for Dell Inc. and...

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Sales transactions Using transactions listed in P4-2, indicate the effects of each transaction on the liquidity metric working capital and profitability metric gross profit percent. Indicate the gross profit percent for each sale (rounding to one decimal place) in parentheses next to the effect of the sale on the company’s ability to attain an overall gross profit percent of 30%.
Vertical analysis The condensed income statements through income from operations for Dell Inc. and Apple Inc. for recent fiscal years follow (numbers in millions of dollars): Prepare comparative common-sized statements, rounding percents to one decimal place. Interpret the analyses.
5. In the income statement for the current year, the entity which is subject to the requirements of segment report, reported external sales of P60,000,000, internal sales of P5,000,000, expenses of P45,000,000. The combined total assets of all operating segments at year-end amounted to P56,000,000. What is the lowest amount of external revenue that should be disclosed by reportable segments? A. 45,000,000 B. 15,000,000 C. 6,500,000 D. 3,750,000 E. None of them
An entity identified the following segment for the current year: Segment Revenue Profit Assets A 10,000,000 1,750,000 20,000,000 B 8,000,000 1,400,000 17,500,000 C 6,000,000 1,200,000 12,500,000 D 3,000,000 550,000 7,500,000 E 4,000,000 575,000 5,500,000 F 2,000,000 525,000 3,000,000 What are the reportable segments? a. SEGMENT A, B and C b. SEGMENT A, B, C and D c. SEGMENT A, B, C, D and E d. SEGMENT A, B, C, D, E and F
Snow Company’s revenue for the year ended December 31, 2020 was as follows:Consolidated revenue per statement ofcomprehensive income $1,200,000Inter-segment sales 240,000Combined revenue of all segments $1,440,000Snow has a reportable operating segment if that segment’s revenue exceeds ____________________.A. $ 6,000B. $ 24,000C. $120,000D. $144,000
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?
Sanborn Corporation Comparative Income Statements in € For the Years Ended December 31, 20X8 and 20X7 20X8 20X7 Net Sales 3,276,800 3,146,400 Cost of goods (2,088,800) (2,008,400) Gross margin 1,188,000 1,138,000 Operating expenses Selling expenses (476,800) (518,000) General & administrative expenses (447,200) (423,200) Total operating expenses (924,000) (941,200) Income from operations 264,000 196,800 Interest expense (65,600) (39,200) Net income before taxes 198,400 157,600 Income taxes (62,400) (56,800) Net income after taxes 136,000 100,800 Earnings per share 3.40 2.52 Sanborn Corporation Comparative Balance Sheets in € December 31, 20X8 and 20X7 Assets 20X8 20X7 Liabilities & Stockholders' Equity 20X8 20X7 Fixed assets: Stockholders' equity: Property, plant and…
21. The following information pertains to the Chicken Wings Company and its divisions for the year ended December 31, 2020: • Sales to unaffiliated customers- P10,000,000 • Inter-segment sales of products similar to those sold to unaffiliated customers- P2,000,000 • Interest expense- P60,000 White has a reportable segment if that segment’s revenue is
In the income statement for the current year, JK Company reported revenue P50,000,000, excluding intersegment sales P10,000,000, expenses P47,000,000 and net income P3,000,000. Expenses included payroll costs of P15,000,000. The combined identifiable assets of all operating segments at year-end totaled P40,000,000. What is the minimum amount of sales to be a major customer?
ABC Corporation Comparative Income Statements in € For the Years Ended December 31, 20X3 and 20X2 20X3 20X2 Net Sales 4,915,200 4,719,600 Cost of goods (3,133,200) (3,012,600) Gross margin 1,782,000 1,707,000 Operating expenses Selling expenses (715,200) (777,000) General & administrative expenses (670,800) (634,800) Total operating expenses (1,386,000) (1,411,800) Income from operations 396,000 295,200 Interest expense (98,400) (58,800) Net income before taxes 297,600 236,400 Income taxes (93,600) (85,200) Net income after taxes 204,000 151,200 Earnings per share 3.4 2.52 ABC Corporation Comparative Balance Sheets in € December 31, 20X3 and 20X2 Assets 20X3 20X2 Liabilities & Stockholders' Equity 20X3 20X2 Fixed assets: Stockholders' equity: Property, plant and…
An entity and its divisions reported the following for the current year: Sales to unaffiliated customers 40,000,000 Intersegment sales of product similar to those sold to unaffiliated customers 12,000,000 Interest earned on loans to other operating segments 1,000,000 The entity and all of its divisions are engaged solely in manufacturing operations. To qualify as reportable segment, the segment revenue should at least be what amount? A. 5,300,000 B. 4,100,000 C. 5,200,000 D. 4,000,000
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

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Consolidated revenue per income statement	P1,200,000
Intersegment sales	180,000
Intersegment transfers	60,000
Combined revenues of all operating segments	P1,440,000