!Required information[The following information applies to the questions displayed below.]The following is financial information describing the six operating segments that make up Chucktown Sauce Company (inthousands):SegmentsRedBlueGreenPinkBlackWhiteSales to outside parties$ 1,823$ 824$ 526 $ 321$ 133$ 111Intersegment revenues28103121028314Salary expense62639141432432974Rent expense151178931045443Interest expense777194612617Income tax expense (savings)1539973(98)(76)0Consider the following questions independently. None of the six segments have a primarily financial nature.c. What volume of revenues must a single customer generate to necessitate disclosing the existence of a major customer?Note: Enter your answer in dollars but not in thousands.Volume of revenues

To determine the volume of revenues that would necessitate disclosing the existence of a major…

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FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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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.)
! Required information [The following information applies to the questions displayed below.] The following is financial information describing the six operating segments that make up Chucktown Sauce Company (in thousands): Sales to outside parties Intersegment revenues Salary expense Rent expense Red $ 1,829 34 632 157 83 159 Volume of revenues Blue $ 830 109 397 184 77 105 Segments Green $ 532 127 420 99 100 79 (104) Pink $ 327 0 330 110 67 Black $ 139 34 335 60 32 (82) White $ 117 320 80 49 23 0 Interest expense Income tax expense (savings) Consider the following questions independently. None of the six segments have a primarily financial nature. c. What volume of revenues must a single customer generate to necessitate disclosing the existence of a major customer? Note: 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 Chucktown Sauce Company (in thousands): Sales to outside parties. Intersegment revenues Salary expense Rent expense Red $ 1,835 40 638 163 89 165 446 X Blue $ 836 115 403 190 83 111 > Answer is complete but not entirely correct. Minimum revenue $ Segments Green $ 538 133 426 Pink $333 105 106 85 0 336 116 73 (110) 66 Interest expense 38 Income tax expense (savings) (88) Consider the following questions independently. None of the six segments have a primarily financial nature. Black $ 145 40 341 White $123 326 86 55 29 Required: a. What minimum revenue amount must any one segment generate to be of significant size to require disaggregated disclosure? Note: Enter your answer in dollars but not in thousands. 0
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…
Dancel Company has the following information for its five business segments: Revenue to external Segment Intersegment revenue Segment assets customers A 20,000,000 2,000,000 25,000,000 B 5,000,000 500,000 5,000,000 C. 2,800,000 1,000,000 3,500,000 ID 1,200,000 200,000 1,500,000 E 1,000,000 250,000 1,000,000 How much is the minimum amount of external revenue that should be reported by the reportable segments? A. 22,500,000 B. 27,000.000 C. 49 500,000 D 6.600.00O
he following information pertains to Sheffield Corp. and its divisions for the year ended December 31, 2021. Sales to unaffiliated customers $3960000 Intersegment sales of products similar to those sold to unaffiliated customers 910000 Interest earned on loans to other operating segments 60000 Sheffield and all of its divisions are engaged solely in manufacturing operations. Sheffield has a reportable segment if that segment's revenue exceeds $487000. $402000. $396000. $493000.
Presented below are four segments that have been identified by Bramble Corp.: Operating Segments Total Revenue Profit (Loss) Identifiable Assets A $256000 $29100 $900500 B 600000 (54100) 800000 C 225000 5800 451000 D 89300 3000 225500 For which of the segments would information have to be disclosed in accordance with professional pronouncements? Segments A, B, and C Segments A, B, C, and D Segments A and B Segments A and D
moodle1.du.edu.om/m Moodle English (en) - The following table shows some selected financial information of TRC Company. According to the given information, which of the following shows the Operating Profit Margin correctly? Gross Sales 98,000 Sales returns and discounts 3,000 Total Assets 125,000 Shareholders' Equity 85,000 Current Assets 46,000 COGS 52,000 Operating Expenses 17,000 Select one: O a. 0.33 O b. 0.27 to search DELL F4 F5 F6 F7 F8 F10 %23 % % 3 r 7 8 A E T Y
Selected information for two companies competing in the catering industry have been presented below. Account A Ltd B Ltd Current assets $55250 $83950 Non-current assets $125000 $149500 Current Liabilities $29300 $11750 Non-current Liabilities $44850 $72500 Equity $106100 $149200 Profit $37500 $26500 Required: A. Calculate the following ratios for A Ltd and B Ltd: i. Current ratio. ii.Return on Assets (ROA). iii. return on equity (ROE). B. From your calculations part A, explain which entity is in a more favourable position.
Required information [The following information applies to the questions displayed below.] The following data is provided for Garcon Company and Pepper Company for the year ended December 31. Garcon Pepper Company Company $ $ 12,000 16,450 14,500 19,950 7,250 9,000 27,000 22,750 19,000 35,000 17,650 13,300 22,000 16,000 5,300 7,200 9,000 12,000 21,000 43,000 9,450 10,860 4,780 1,500 33,000 52,000 50,000 46,000 195,030 290,010 20,000 15,700 13,200 19,450 Finished goods inventory, beginning Work in process inventory, beginning Raw materials inventory, beginning Rental cost on factory equipment Direct labor Finished goods inventory, ending Work in process inventory, ending Raw materials inventory, ending Factory utilities General and administrative expenses CAP Indirect labor Repairs-Factory equipment Raw materials purchases Selling expenses Sales Cash Accounts receivable, net 1. Complete the table to find the cost of goods manufactured for both Garcon Company and Pepper Company for the…
Required information [The following information applies to the questions displayed below.] The following data is provided for Garcon Company and Pepper Company for the year ended December 31. Garcon Company $ 12,400 18,500 10,000 33,250 21,400 19,250 26, 200 7,600 14,100 29,50е 14,100 5,180 43,500 60,400 279,510 28,000 13,60е Реpper Company $ 19,300 22,500 14,550 25,300 37,000 15,700 22,000 8,000 14,500 49,500 12,080 2,400 54,000 46,300 374, 590 18, 200 23,950 Finished goods inventory, beginning Work in process inventory, beginning Raw materials inventory, beginning Rental cost on factory equipment Direct labor Finished goods inventory, ending Work in process inventory, ending Raw materials inventory, ending Factory utilities General and administrative expenses Indirect labor Repairs-Factory equipment Raw materials purchases Selling expenses Sales Cash Accounts receivable, net 1. Compute the total prime costs for both Garcon Company and Pepper Company. 2. Compute the total conversion…
Nottage Company has four separate operating segments:What revenue amount must one customer generate before it must be identified as a major customer?a. $39,600b. $42,200c. $46,500d. $49,200

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