The Wilson Diversified Company has total assets of $130,000 at the end of 2007 and the following
Question:
Sales ............. $90,000
Operating expenses ...... (66,600)
Income before income taxes .... $23,400
Income tax expense ...... (7,020)
Net income .......... $16,380
The company has two reportable operating segments and has developed the following related information:
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a. Of the $66,600 total operating expenses, $4,000 are general corporate expenses.
b. Of the $130,000 total assets, $9,000 are general corporate assets.
Required
Prepare a schedule that reports on the revenues, profit, and assets of Segments 1 and 2 and the other operating segments of the Wilson Diversified Company for 2007. Be sure to include the appropriatereconciliations.
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WILSON DIVERSIFIED COMPANY Industry Segment Financial ...View the full answer
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Related Book For 
Intermediate Accounting
ISBN: 978-0324300987
10th Edition
Authors: Loren A Nikolai, D. Bazley and Jefferson P. Jones
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