Survey of Accounting (Accounting I)
Solutions
Survey of Accounting (Accounting I)
Divisional performance analysis and evaluation
The vice president of operations of Moab Bike Company is evaluating the performance of two divisions organized as investment centers. Invested assets and condensed income statement data for the past year ending October 31, 20Y9, for each division are as follows
Instructions
Prepare condensed divisional income statements for the year ended October 31. 20Y9, assuming that there were no service department charges.
Concept Introduction:
Divisional income statement shows the Profit or Losses which the operating division generate during the accounting year after deducting cost of goods sold and operating expenses from the net revenue.
To Prepare:
The Divisional Income Statements
The Divisional Income Statements is prepared as follows:
| Divisional Income Statement | ||
| Touring Bike Division | Trail Bike Division | |
| Sales | $ 1,500,000 | $ 5,400,000 |
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