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To be a reportable segment, the segment profit or loss should be at least what amount?
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- X Corp. reported the following data for 2017. Total net sales – P4,000,000; Goods purchased – P2,400,000; Beginning Inventory – P400,000; Ending Inventory – P600,000; 1 year advance rent of 60,000 to apply for 2018; P80,000 total interest income from customers promissory note earned. P60,000 of this was collected.; Unrealized foreign exchange gains from foreign currency receivables – P120,000; Using cash basis, compute the total income subject to income tax.JDW Corporation reported the following for 20X1: net sales $2,929,500; cost of goods sold $1,786,995; selling and administrative expenses $585,900; unrealized holding loss on available-for-sale securities (considered other comprehensive income) $22,000; a positive foreign currency translation adjustment $26,250 (considered other comprehensive income); and an unrealized loss from pension adjustment (considered other comprehensive income) $7,000. JDW’s tax rate was 21%. Ignore income taxes related to amounts in other comprehensive income. prepare a statement of comprehensive income using the two-statement format. Ignore earnings per share.The 2025 Annual Report of Marigold International contains the following information: (in millions) Total assets Total liabilities Net sales Net income (b) June 29, 2025 (c) $1.552 1.091 2,733 150 June 27, 2024 $1.376 1.147 2.845 Compute the following ratios for Marigold International for 2025: 136 Asset turnover ratio. (Round answer to 3 decimal places, e.g. 0.851 times.) Rate of return on assets. (Round answer to 2 decimal places, e.g. 4.87.) Profit margin on sales. (Round answer to 2 decimal places, e.g. 4.87.)
- Selected XYZ financials (in dollars) 25,240,000 24,324,000 18,785,000 2,975,000 12,600,000 10,550,000 2,875,000 3,445,000 Gross income Total Sales Total Credit Sales, Net Income Cost of Goods Sold Total Assets Average Inventory Average Accounts receivable What is the asset turover ratio for Firm XYZ. (round to 3 decimals)Yeri Corp. reported the following data for 2019. Total net sales – P4,000,000; Goods purchased – P2,400,000; Beginning Inventory – P400,000; Ending Inventory – P600,000; 1 year advance rent received amounting to P60,000 to be applied in 2020; P80,000 total interest income from customers promissory note earned--P60,000 of this was collected; Unrealized foreign exchange gains from foreign currency receivables – P120,000; required: Using Accrual Basis, compute the total income subject to income tax.The income statement of Kyonggi Inc. in Suwon, Korea, contains the following condensed information (currency unit in thousand Korean won, ₩ 000’s): KYONGGI INC. Income Statement Year Ended December 31, 2019 Sales ₩ 6,583,000 Cost of goods sold 3,427,000 Gross profit 3,156,000 Operating expenses 2,349,000 Profit from operations 807,000 Interest expense 124,000 Profit before income tax 683,000 Income tax expense 203,000…
- Wendy Corp. reported the following data for 2019. Total net sales -P4,000,000; Goods purchased – P2,400,000; Beginning Inventory – P400,000; Ending Inventory – P600,000; 1 year advance rent received amounting to P60,000 to be applied in 2020; P80,000 total interest income from customers promissory note earned--P60,000 of this was collected; Unrealized foreign exchange gains from foreign currency receivables – P120,000; REQUIRED: 1. Using cash basis, compute the total income subject to income tax.Use the following information of Prescrip Co. to prepare a calendar year-end statement of comprehensive income. Total comprehensive income (final total) $ 9,400 Other comprehensive income (subtotal) $ (600) Net income . 10,000 Change in foreign currency translation 1,400 Change in value of available-for-sale securities (2,000)Q. No. 1. From the following information of Albert Company as on 31t December 2018: Noncurrent asset $25,00,000 Working capital Current ratio Non-current assets tumover ratio Gross profit Trade receivable turnover ratio Loss on sale of plant assets Trade payable turnover ratio Interest expenses Income tax Inventory turnover ratio 10,00,000 2:1 8 times 20% on sales 10 times $10,000 15 times S50,000 20% 10 times 10% of turn over 15% of the net income 1:1 S10,000 Net income General Reserve Capital gearing ratio Depreciation expenses Amortization on patent Doubtful expenses Derecognizing expenses $8,000 $5,000 $15,000 Required: A. Prepare a statement of Financial Performance for the year ended 31t December 2018 B. Prepare a Statement of Financial Position as of 31* December 2018.
- Current Account Value Exports of goods 107,941 Exports of services 44,133 Primary income 36,063 receipts Imports of goods 132,484 Import of services 29,443 Primary income payments 29,750 Net unilateral -8,349 transfers Capital account -63 Net acquisition of financial assets 20,972 Net incurrence of liabilities 54,471 Financial derivatives Statistical discrepancy Based on the table above, the balance on the financial account is O 33,499 O 33,561 O -33,499 O-33,561 MacBook AirCorporation.Gross income $25,240,000Total sales 24,324,000Total credit sales 18,785,000Net income 2,975,000Cost of goods sold 12,600,000Total assets 10,550,000Average inventory 2,875,000Average receivables 3,445,000a. Compute the receivable turnover ratio.b. Compute the inventory turnover ratio.c. Compute the asset turnover ratio.Selected comparative statement data for Oriole Company are presented below. All balance sheet data are as of December 31. 20222021Net sales$1,165,000 $1,125,000Cost of goods sold705,000 645,000Interest expense20,000 15,000Net income154,945 145,000Accounts receivable145,000 125,000Inventory105,000 100,000Total assets785,000 700,000Preferred stock (6%)205,000 200,000Total stockholders’ equity635,000 525,000 Compute the following ratios for 2022. (Round answers to 1 decimal place, e.g. 1.8 or 2.5%) (a)Profit marginenter the profit margin in percentages %(b)Asset turnoverenter the asset turnover in times times(c)Return on assetsenter the return on assets in percentages %(d)Return on common stockholders’ equityenter the return on common stockholders' equity in percentages %