CAN U HELP ME WITH THESE QUESTION PLS IS AN ADVANCE FINANACIAL ACCOUNTING COURSE

ADVANCED FINANACIAL ACCOUNTING HOME WORKS CHAPTER 13 PRE BUILT PROBLEMS QUESTION 1. Data for the seven operating segments of Amalgamated Products follow: SEGMENTS REVENUES Electronics bicycles Sporting goods Home appliance Gas and oil equipments glasswares hardware $ 42,000 105,000 53,000 147,000 186,000 TOTALS 64,000 178,000 775,000 SEGMENT PROFIT (LOSS) (8,600) 30,400 (4,900) 23,000 11,700 SEGMENTS ASSETS 73,000 207,000 68,000 232,000 315,000 (19,100) 38,600 96,000 194,000 71, 100 1185, 000 Included in the $105,000 revenue of the Bicycles segment are sales of $25,000 made to the Sporting Goods segment. Required: A. Which segments are separately reportable? SEGMENT REVENUE PROFIT(LOSS) Electronics biclycles . Sporting goods Home appliance Gas and oil glassware hardware b. ASSETS Do the separately reportable segments include a sufficient portion of total revenue? Yes No QUESTION 2. During July, Laesch Company, which uses a perpetual inventory system, sold 1,440 units from its LIFO-based inventory, which had originally cost $20 per unit. The replacement cost is expected to be $31 per unit. Required: Respond to the following two independent scenarios as requested. a. Case 1: In July, the company is planning to reduce its inventory and expects to replace only 940 of these units by December 31, the end of its fiscal year. (1 Prepare the entry in July to record the sale of the 1,440 units. (If no entry is ) required for a transaction/event, select "No journal entry required" in the first account field.) EVENT GENERAL JOURNAL DEBIT CREIDT (3 Prepare the entry for the replacement of the 940 units in September at an actual ) cost of $37 per unit. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) EVENT GENERAL JOURNAL DEBIT CREIDT b. Case 2: In July, the company is planning to reduce its inventory and expects to replace only 320 of its units by December 31, the end of its fiscal year. (1 ) Prepare the entry in July to record the sale of the 1,440 units. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) EVENT GENERAL JOURNAL DEBIT CREIDT QUESTION 3. Information about the domestic and foreign operations of Radon Inc. is as follows: U.S.A GEOGRAPHIC AREA BRITAIN BRAZIL ISRAEL SALES TO UNAFFILIATED CUSTOMERS INTERAREA SALES BETWEEN AFFILIATES 364,000 252,000 72,000 38,000 19,000 6,000 TOTAL REVENUE PROFIT LONG LIVED ASSETS 402,000 271,000 78,000 58,000 47,000 856,000 34,500 509,000 22,500 439,000 11,300 93,000 3,200 66,000 4,500 75,000 76,000 1,182,000 58,000 AUSTRALI A 47,000 TOTAL 793,000 63,000 Required: Prepare schedules showing appropriate tests to determine which countries are material using a 10 percent materiality threshold. (Round your percentage answers to 1 decimal place.) GEOGRAPHIC AREA U. S BRITAIN BRAZIL ISRAEL AUSTRALIA CONSOLIDATED REVENUE SALES TO UNAFFILIATED CUSTOMERS GEOGRAPHIC AREA U. S BRITAIN BRAZIL ISRAEL AUSTRALIA CONSOLIDATED REVENUE PERCENTA OF CONSOLIDATED REVENUE LONG - LIVED ASSETS SEPARATELY REPORTABLE PERCENTA OF TOTAL LONG - LIVED ASSETS SEPERATELY REPORTABLES QUESTION 4 Calvin Inc. has operating segments in five different industries: apparel, building, chemical, furniture, and machinery. Data for the five segments for 20X1 are as follows: APPAREL SALES TO NON 870,000 AFFILIATE INTERSEGEMENT SALES COST OF GOODS 480,000 SOLD SELLING 160,000 EXPENSES OTHER 40,000 TRACABLES EXPENSES ALLOCATIONGEN 80,000 ERAL CORPORATE EXP. OTHER INFORMATION: SEGEMNET 610,000 ASSETS DEPRECIATION 60,000 EXPENESES CAPITAL 20,000 EXPENDITURE BUILDING 750,000 CHEMICALS FURNITURE MACHINERY 55,000 95,000 180,000 5,000 15,000 140,000 450,000 42,000 78,000 150,000 40,000 10,000 20,000 30,000 30,000 6,000 12,000 18000 75,000 7,000 13,000 25,000 560,000 80,000 90,000 140,000 50,000 10,000 11,000 25,000 30,000 15,000 Additional Information 1. The corporate headquarters had general corporate expenses totaling $235,000. For internal reporting purposes, $200,000 of these expenses were allocated to the divisions based on their cost of goods sold. The chief operating decision maker does not use the other corporate expenses for making segmental decisions. 2. The company has an intercorporate transfer pricing policy that all intersegment sales shall be priced at cost. All intersegment sales were sold to outsiders by December 31, 20X1. 3. Corporate headquarters had assets of $125,000 that the chief operating decision maker did not use for making segmental decisions. 4. The depreciation expense (listed in the section titled \"Other information\") has already been added into cost of goods sold in accordance with the company's cost measurement policies. Required: a Prepare a segmental disclosure worksheet for Calvin Inc. . CALVIN INC SEGMENTAL DISCLOURE WORKSHEET FOR THE YEAR ENDED DEC 31 2001 Appareal REVENUE: Sales to unaffiliated Intersegment sales Total sales 0 building 0 chemical 0 furniture machine administration combined intergement cons 0 EXPENSE: Cost of goods sold Selling expenses Tracable expenses Allocatioed gen corp exp TOTAL SEGMENT EXP 0 0 0 SEGEMET PROFIT/LOSS 0 0 Unallocated general expenses Income from continue op b4 tax 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Assets: Segment General corporate Total assets 0 0 0 0 0 0 b. Prepare schedules to show which segments are separately reportable. Revenue Segment profit Segment assets appreal building chemical furiture machinery c. Prepare the information about the company's operations in different industry segments as required by ASC 280. (Amount to be deducted must be entered with minus sign.) Reconciliation of reportable segment revenue to consolidated revenue: Total revenue for reportable segment Other revenues Elimination of intersegement revenues Total consolidates revenue Reconciliation of reportable segment profit and loss to consolidated profit or loss Total profit and lloss for reportable segments Other loss General corporate expenses Income before taxes Reconciliation of Reportable Segment Assets to Consolidated Assets: Total assets of reportal segments Other asssts General corporate asstes Consolidates total assets d. Would there be any differences in the specification of reportable segments if the building segment had $460,000 in assets instead of $560,000 and the furniture segment had $190,000 in assets instead of $90,000? Justify your answer by preparing a schedule showing the percentages for each of the three 10 percent segment tests for each of the five segments using these new amounts for segment assets. (Round your answers to 1 decimal place.) REVENUE APPAREL BUILDING CHEMICALS FURNITURE MACHINERY SEGMENT PROFIT(LOSS) SEGMENT ASSETS REVENUE PROFIT ASSETS APPAREL BUILDING CHEMICALS FURNITURE MACHINERY QUESTION 5. At the end of the second quarter of 20X1, Malta Corporation assembled the following information: 1. The first quarter resulted in a $128,000 loss before taxes. During the second quarter, sales were $1,238,000; purchases were $688,000; and operating expenses were $358,000. 2. Cost of goods sold is determined using the FIFO method. The inventory at the end of the first quarter was reduced by $42,000 to a lower-of-cost-or-market figure of $116,000. During the second quarter, replacement costs recovered, and by the end of the period, market value exceeded the ending inventory cost by $39,250. 3. The ending inventory is estimated using the gross profit method. The estimated gross profit rate is 46 percent. 4. At the end of the first quarter, the effective annual tax rate was estimated at 45 percent. At the end of the second quarter, expected annual income is $680,000. An investment tax credit of $15,000 and dividends received deduction of $90,000 are expected for the year. The combined state and federal tax rate is 40 percent. 5. The tax benefits from operating losses are assured beyond a reasonable doubt. Prior-years income totaling $50,000 is available for operating loss carrybacks. Required: a. Calculate the expected effective annual tax rate at the end of the second quarter for Malta. (Round your answer to 1 decimal place.) B. Prepare the income statement for the second quarter of 20X1. Your solution should include a computation of income tax (or benefit) for the first and second quarters. (Round your percentage answers to 1 decimal place.) PERIOD CURRENT PERIOD YEAR TO DATE EXT EFFECTIVE ANNUAL TAX RATE YEAR TO DATE LESS PREVIOUS PROVIDED REPORT E IN THIS PERIOD