Required information [The following information applies to the questions displayed below.] The following is financial information describing the six operating segments that make up Fairfield, Inc. (in thousands): Sales to outside parties Intersegment revenues Salary expense Rent expense Interest expense Income tax expense (savings) Red $1,829 34 632 157 83 159 Blue $830 109 397 184 77 105 Segments Green $532 127 420 99 100 79 Pink $327 0 330 110 67 (104) Black $ 139 34 335 60 32 (82) White $ 117 320 80 49 23 0 Consider the following questions independently. None of the six segments have a primarily financial nature. a. What minimum revenue amount must any one segment generate to be of significant size to require disaggregated disclosure? (Enter your answer in dollars but not in thousands

Required information [The following information applies to the questions displayed below.] The following is financial information describing the six operating segments that make up Fairfield, Inc. (in thousands): Sales to outside parties Intersegment revenues Salary expense Rent expense Interest expense Income tax expense (savings) Red $1,829 34 632 157 83 159 Blue $830 109 397 184 77 105 Segments Green $532 127 420 99 100 79 Pink $327 0 330 110 67 (104) Black $ 139 34 335 60 32 (82) White $ 117 320 80 49 23 0 Consider the following questions independently. None of the six segments have a primarily financial nature. a. What minimum revenue amount must any one segment generate to be of significant size to require disaggregated disclosure? (Enter your answer in dollars but not in thousands

Financial And Managerial Accounting

15th Edition

ISBN:9781337902663

Author:WARREN, Carl S.

Publisher:WARREN, Carl S.

Chapter14: Financial Statement Analysis

Section: Chapter Questions

Problem 26E: Comprehensive income Anson Industries, Inc., reported the following information on its 20Y1 income...

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! Required information [The following information applies to the questions displayed below.] Following is financial information describing the six operating segments that make up Fairfield, Inc. (in thousands): Segments Sales to outside parties Intersegment revenues Salary expense Rent expense Interest expense Income tax expense (savings) Red $1,812 17 615 140 66 142 Minimum revenues Blue $ 813 92 380 167 60 88 Green $515 110 403 82 83 62 Pink $ 310 0 313 93 50 (87) Black $ 122 17 318 43 15 (65) White $ 100 303 63 32 6 0 Consider the following questions independently. None of the six segments has a primarily financial nature. a. What minimum revenue amount must any one segment generate to be of significant size to require disaggregated disclosure? (Enter your answer in dollars but not in thousands.)
The following financial statements relate to Inna Projects Limited:Statement of Comprehensive Income for the year ended 30 June 2018R’000Sales (Credit)8 000Cost of sales2 000Gross profit6 000Operating expenses2 800Operating profit3 200Interest expense220Profit before tax2 980Tax (25%)745Profit after tax2 235Statement of Financial Position as at 30 June 2018ASSETSR’000R’000Non-current assets45 320Current assets13 980Inventory5 080Debtors7 600Bank1 30059 300EQUITY AND LIABILITIESOwners’ equity54 040Capital39 000Retained income15 040Non-current assets3 000Current liabilities2 260Creditors2 26059 300Note: Inventory on 1 July 2017 amounted R3 000 000.Required:Calculate the following ratios and where applicable round off answers correctly to two decimal places:2.1 Gross margin (5)2.2 Inventory turnover (5)2.3 Debtors collection period (5)2.4 Return on own capital (5)2.5 Acid test ratio (5
Required information [The following information applies to the questions displayed below.] Selected comparative financial statements of Korbin Company follow. Sales Cost of goods sold Gross profit Selling expenses Administrative expenses Total expenses Income before taxes Income tax expense Net income Assets Current assets KORBIN COMPANY Comparative Income Statements For Years Ended December 31 2021 2020 $ 481,724 $369,040 289,998 191,726 68,405 43,355 111,760 Long-term investments Plant assets, net Total assets Liabilities and Equity Current liabilities Assets Current assets Long-term investments Plant assets, net Total assets Common stock Other paid-in capital Retained earnings Total liabilities and equity Liabilities and Equity Current liabilities Common stock Other paid-in capital Retained earnings Total liabilities and equity 79,966 14,874 52,403 10,743 $ 65,092 $ 41,660 KORBIN COMPANY Comparative Balance Sheets December 31 233,233 135,807 50,928 32,476 83,404 2021 2020 $ 56,542 0…
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
Can you do 2022 income statement of this table? Statement of Profit or Loss and Other Comprehensive Income Presentation Currency Nature of Financial Statements Revenue Revenue from Finance Sector Operations Total Revenue Cost of Sales Cost of Finance Sector Operations Total Costs Gross Profit (Loss) from Commercial Operations Gross Profit (Loss) from Finance Sector Operations Gross Profit (Loss) Profit (Loss) From Operating Activities Profit (Loss) Before Financing Income (Expense) Profit (Loss) from Continuing Operations, Before Tax Profit (Loss) from Continuing Operations Profit (Loss) from Discontinued Operations Net Profit (Loss) Profit (Loss) Attributable To, Non- controlling Interests Profit (Loss) Attributable To, Owners of Parent Other Comprehensive Income (Loss) Total Comprehensive Income (Loss) Total Comprehensive Income Attributable To, Non-controlling Interests Total Comprehensive Income Attributable To, Owners of Parent 2020/12 1000TL Consolidated 21.529.210 37.824.578…
Required information [The following information applies to the questions displayed below.] Selected comparative financial statements of Korbin Company follow. KORBIN COMPANY Comparative Income Statements For Years Ended December 31 2021 2020 $ $ 467,052 357,800 281,165 223,625 185,887 134, 175 66,321 49,376 42,035 31,486 108,356 80,862 77,531 53,313 14,421 10,929 $ $ 63,110 42,384 Sales Cost of goods sold Gross profit Selling expenses Administrative expenses Total expenses Income before taxes Income tax expense Net income KORBIN COMPANY Comparative Balance Sheets 2020 Assets Current assets Long-term investments Plant assets, net Total assets December 31 2021 Liabilities and Equity Current liabilities Common stock Other paid-in capital Retained earnings Total liabilities and equity Assets Current assets Long-term investments Plant assets, net Total assets Liabilities and Equity Current liabilities Common stock Other paid-in capital Retained earnings Total liabilities and equity 2019 $…
Presented below is some financial information related to Volaire Group. Revenues €800,000 100,000 120,000 90,000 220,000 500,000 200,000 Income from continuing operations Comprehensive income Net income Income from operations Selling and administrative expenses Income before income tax Compute the following: (a) other income and expense, (b) financing costs, (c) income tax, (d) discontin- ued operations, and (e) other comprehensive income.
Your emall WIII be recorded when you Supmit this fOTm zSg/formResponse?pli=1 * Required Assume that Dillards Inc. reported operating income of $5.2 million, $1.75 million in other income and gains (except equity earnings), $3.65 million in other expenses and losses, and a tax rate of 40%. 1. Using the information given above for Dillards Inc, what is the net income of the company? * A) $5.2 million B) $3.3 million C) $1.98 million D) $1.32 million E) None of the above
[The following information applies to the questions displayed below.] 2021 2020 2019 Selected comparative financial statements of Korbin Company follow. Comparative Income Statements For Years Ended December 31 KORBIN COMPANY Sales Cost of goods sold Gross profit Selling expenses Administrative expenses Total expenses Income before taxes Income tax expense Net income Assets Current assets Long-term investments Plant assets, net Total assets KORBIN COMPANY Comparative Balance Sheets Liabilities and Equity Current liabilities Numerator: 2021 2020 2019 $ 548,688 $ 420,340 $ 291,700 330,310 263,974 186,688 218,378 156,366 Common stock Other paid-in capital Retained earnings Total liabilities and equity 1 1 77,914 58,007 49,382 36,990 127,296 94,997 91,082 61,369 16,941 12,581 $ 74,141 $ 48,788 1 1 1 December 31 2021 $ 62,574 0 Current Ratio $25,844 65,000 8,125 78,043 Required: 1. Complete the below table to calculate each year's current ratio. $ 41,881 1,200 103,962 $ 55,985 3,920 114,438…
1. Following information is available for the year 2019 and 2020 of XYZ SAOG. You are required to prepare Statement of comprehensive income and Statement of financial position. 2019 2020 Net finance charges 32516 22334 Taxation expense 818918 545790 Sales 41638212 42845900 Cost of sales 27672478 26212660 Other income 1001286 826020 Legal reserve 12777322 12415734 Retained earnings 3742920 5228032 Fair value reserve 243514 -65174 Salaries and other employee related costs 4554888 4278172 Unrealized gain on Fair value changes on available for sale investments 308688 2264658 Property, plant and equipment 35411014 38329456 Available for sale investments – Long term 3188116 3150452 Non-current portion of held-to-maturity investments 3858778 5804256 Other Investments 1540800 Accounts and other payables 5607514 6086376 Taxation payable 668454 755446 Current portion of held-to-maturity investments 10930634 6000000 Inventories 10334502 8507048 Accounts and other receivables 18420298 14737064…
Using the financial data for Key Wahl Industries Sales Net Profit After Tax Total Assets Total Liabilities O.50 02 O.75 $4,500,000 What is the debt ratio? O.075 $337,5000 $6,750,000 $ 3,375,000
Use the following information for Cronos Group, Inc. (CRON): EBIT / Revenue 25.50% Government Tax Rate 42.50% Revenue / Assets 1.95 times Current Ratio 3.15 times EBT / EBIT 0.80 times Assets / Equity 2.00 times Its interest coverage ratio is closest to: A. 2.50. B. 5.00. C. 7.15. D. 9.25.