3. (25 pts) Immenso Company has several divisions as shown below with data to determine reportable...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
3. (25 pts) Immenso Company has several divisions as shown below with data to determine reportable segments. Divisions Barf Arf Farf Sales External $ Charf Darf 50,000 $ 50,000 $30,000 $ 20,000 $ 30,000 $ 90,000 $ 10,000 $50,000 $ 80,000 $140,000 $40,000 $ 70,000 $ Sales Internal $ Total Sales $ Profits/Losses $ 35,000 $ (55,000) $ 19,000 $ (45,000) $ Identifiable Assets $ Corporate Allocated Assets $ 200,000 $ 50,000 $ 250,000 $ 150,000 $ 75,000 $ 300,000 $ 40,000 $30,000 $ 40,000 $ 190,000 $ 105,000 $340,000 $ $ Perform the Sales Segment Test and state the reportable segments. Perform the Profit/Losses Test and state the reportable segments. Perform the Assets Test and state the reportable segments. Perform any other test deemed ncessary to report segments. Total 20,000 $ 170,000 20,000 $200,000 40,000 $ 370,000 (10,000) $ (56,000) 40,000 $765,000 50,000 $ 210,000 90,000 $ 975,000 3. (25 pts) Immenso Company has several divisions as shown below with data to determine reportable segments. Divisions Barf Arf Farf Sales External $ Charf Darf 50,000 $ 50,000 $30,000 $ 20,000 $ 30,000 $ 90,000 $ 10,000 $50,000 $ 80,000 $140,000 $40,000 $ 70,000 $ Sales Internal $ Total Sales $ Profits/Losses $ 35,000 $ (55,000) $ 19,000 $ (45,000) $ Identifiable Assets $ Corporate Allocated Assets $ 200,000 $ 50,000 $ 250,000 $ 150,000 $ 75,000 $ 300,000 $ 40,000 $30,000 $ 40,000 $ 190,000 $ 105,000 $340,000 $ $ Perform the Sales Segment Test and state the reportable segments. Perform the Profit/Losses Test and state the reportable segments. Perform the Assets Test and state the reportable segments. Perform any other test deemed ncessary to report segments. Total 20,000 $ 170,000 20,000 $200,000 40,000 $ 370,000 (10,000) $ (56,000) 40,000 $765,000 50,000 $ 210,000 90,000 $ 975,000
Expert Answer:
Answer rating: 100% (QA)
An Operating Segment should be reported based on meeting any one of the following criteria 1 The rev... View the full answer
Related Book For
Cost Management Measuring Monitoring and Motivating Performance
ISBN: 978-0470769423
2nd edition
Authors: Leslie G. Eldenburg, Susan K. Wolcott
Posted Date:
Students also viewed these accounting questions
-
Recreation Equipment Company has several divisions which are investment centers. Data for the Boat Division and the Trailer Division are shown here: Which of the following statements would be the...
-
Bramlett Company has several divisions and just built a new plant with a capacity of 20,000 units of a new product. A standard costing system has been introduced to aid in evaluating managers...
-
Bramlett Company has several divisions and just built a new plant with a capacity of 20,000 units of a new product. A standard costing system has been introduced to aid in evaluating managers'...
-
Thor Bhd. (Thor) is a listed company in Malaysia, specializes in selling batteries. At 31 December 2021, Thor holds four distinct types of batteries in its warehouse. The accountant of Thor provided...
-
The Flagstar bank isn Michigan offered a 5 year certificate of deposit (CD) at 4.38% interest compounded quarterly.* On the same day on the Internet, Principle Bank offered a 5 year CD at 4.37%...
-
Use statistics software to make a histogram of this data set: 44, 45, 51, 40, 28, 46, 34, 19. a. Based on the histogram, predict what a box plot of the data will look like. b. Use the software to...
-
What are four common objectives for analyzing a business's financial information?
-
1. Calculate Tax Liability. What would be the tax liability for a single taxpayer who has a gross income of $39,700? 2. Marginal Tax Rate. What would be the marginal tax rate for a single person who...
-
Edge Company produces two models of its product with the same machine. The machine has a capacity of 160 hours per month. The following information is available. Selling price per unit Variable costs...
-
Greenstone Coffee is experiencing financial pressures due to increased competition for its numerous urban coffee shops. Total sales revenue has dropped by 15% and the company wishes to establish a...
-
https://sciencedemos.org.uk/logic_gates.php(Links to an external site.) . I've created a working example that allows you to simulate some of the logic gates we discussed.( Intro to Logic Gates -...
-
_____ is a lump sum payment, typically given to an individual at the end of a period.
-
_____ avoid providing their maximum effort in group settings because it is difficult to pick out individual performance.
-
_____ reinforce performance of a single person with a reward that is significant to that person.
-
_____ is compensation that depends on some measure of individual performance or results in order to be awarded.
-
Is the Dodd-Frank Act a good or bad idea? Why?
-
Calculate dimensions A through N. M 1.5 TYP R1/2 0.625 TYP -R1/2 TYP 1.00 6.25 7.00 -0.56 TYP 0.66 1/4R M 7.75 K 1.750 2.600 TYP 1.00 +000 001 01.000 +000 002 01.200 CBORE X 0.13 DEEP 0.750 NOTES: 1....
-
Give the structural formulas of the alkenes that, on ozonolysis, give: a. (CH3)2C=O and CH2=O b. Only (CH3CH2)2C=O c. CH3CH=O and CH3CH2CH=O d. O=CHCH2CH2CH2CH=O
-
Last year, the Krishnan Manufacturing Plant, part of Johnsons Global Corporation, earned revenues of $800,000. Direct materials and direct labor were $200,000, product-line fixed costs were $150,000,...
-
Ross and Jones, Certified Public Accountants, is a well-established accounting firm with two partners and four staff in a small rural town. The firm performs financial statement reviews and...
-
Axel Corporaton is planning to buy a new machine with the expectation that this investment should earn a rate of return of at least 15%. This machine, which costs $150,000, would yield an estimated...
-
The following information is taken from the Fossil, Inc. 2015 annual report: Calculate Fossils actual and sustainable rate of growth in sales. How do the two rates of growth compare? What advice...
-
Presented below are selected financial data from the 2015 annual report of the Bristol-Myers Squibb Company: Required Using the ratio definitions from Exhibit 4.6, calculate the financial ratios for...
-
Presented below are selected financial data from the 2015 annual report of The Boeing Company: Required Using the ratio definitions from Exhibit 4.6, calculate the financial ratios for The Boeing...
Study smarter with the SolutionInn App