a b. CL d. f. Suppose the division provided copy services to a customer for the...

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a b. CL d. f. Suppose the division provided copy services to a customer for the discounted price of $255,600. Under normal conditions, Perez would have provided these services for $284,000. Other revenues totalled $56,000 Salaries cost the division $23,000 to provide these services. The division had to pay employees overtime. Ordinarily, the salary cost for these services would have been $20,700. Other expenses totalled $250,000. Income tax expense was 29% of income before tax. Perez has two operating divisions. Each division is accounted for separately to indicate how well each is performing. At year-end. Perez combines the statements of divisions to show results for Perez as a whole. Inflation affects the amounts that Perez must pay for copy machines. To show the effects of inflation, net income would drop by $5,000 If Perez were to go out of business, the sale of its assets would bring in $155,000 in cash. Assume that the Special Contract Division of Perez experienced the following transactions during the year ended December 31, 2020 (Click the icon to view the transactions.) Requirements 1. Prepare the Special Contracts Division income statement for the year ended December 31, 2020 2. Identify the accounting concepts, assumptions, or principles used in accounting for the items described in a through f. State how you have applied the concept, assumption, or principle in preparing the Dvision's income statement Requirement 1. Prepare the Special Contracts Division income statement for the year ended December 31, 2020 Begin by completing the header, and then complete the body of the statement (Round amounts to the nearest whole dollar. Use parentheses or a minus sign to indicate a net loss.) Revenue Total revenue Expenses Total operating expenses Net income (loss) Requirement 2. Identify the accounting concepts, assumptions, or principles used in accounting for the items described in a through t State how you have applied the concept assumption, or principle nanno the Division's income statement Requirement 2. Identify the accounting concepts, assumptions, or principles used in accounting for the tems described in a through f. State how you have applied the concept, assumption, or principle in preparing the Division's income statement Identify the accounting assumption or characteristic that provides guidance in accounting for the item described. How have you applied the assumption or characteristics in preparing the special contracts division income statement? Begin with transaction a a. Report revenues at their worth is based on and to dispute b. Account for expenses Yvalue because that amount is supported by e Account for because d. Each operating division of the company is accounting purposes e. Accounting in Canada the effect of L There is no evidence that Penez is of Perez assets is not recorded so it seems data. What management believes the goods are with Perez as a whole Therefore, the potential sale value a b. CL d. f. Suppose the division provided copy services to a customer for the discounted price of $255,600. Under normal conditions, Perez would have provided these services for $284,000. Other revenues totalled $56,000 Salaries cost the division $23,000 to provide these services. The division had to pay employees overtime. Ordinarily, the salary cost for these services would have been $20,700. Other expenses totalled $250,000. Income tax expense was 29% of income before tax. Perez has two operating divisions. Each division is accounted for separately to indicate how well each is performing. At year-end. Perez combines the statements of divisions to show results for Perez as a whole. Inflation affects the amounts that Perez must pay for copy machines. To show the effects of inflation, net income would drop by $5,000 If Perez were to go out of business, the sale of its assets would bring in $155,000 in cash. Assume that the Special Contract Division of Perez experienced the following transactions during the year ended December 31, 2020 (Click the icon to view the transactions.) Requirements 1. Prepare the Special Contracts Division income statement for the year ended December 31, 2020 2. Identify the accounting concepts, assumptions, or principles used in accounting for the items described in a through f. State how you have applied the concept, assumption, or principle in preparing the Dvision's income statement Requirement 1. Prepare the Special Contracts Division income statement for the year ended December 31, 2020 Begin by completing the header, and then complete the body of the statement (Round amounts to the nearest whole dollar. Use parentheses or a minus sign to indicate a net loss.) Revenue Total revenue Expenses Total operating expenses Net income (loss) Requirement 2. Identify the accounting concepts, assumptions, or principles used in accounting for the items described in a through t State how you have applied the concept assumption, or principle nanno the Division's income statement Requirement 2. Identify the accounting concepts, assumptions, or principles used in accounting for the tems described in a through f. State how you have applied the concept, assumption, or principle in preparing the Division's income statement Identify the accounting assumption or characteristic that provides guidance in accounting for the item described. How have you applied the assumption or characteristics in preparing the special contracts division income statement? Begin with transaction a a. Report revenues at their worth is based on and to dispute b. Account for expenses Yvalue because that amount is supported by e Account for because d. Each operating division of the company is accounting purposes e. Accounting in Canada the effect of L There is no evidence that Penez is of Perez assets is not recorded so it seems data. What management believes the goods are with Perez as a whole Therefore, the potential sale value