Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Sunland Company's condensed income statement is presented below: Revenues$960,000ExpensesCost of goods sold$400,000Operating and administrative expenses201,000Depreciation expense32,000633,000Income before taxes327,000Income tax expenses78,000Net income$249,000Earnings per share (100,000 shares)$2.49

Sunland Company's condensed income statement is presented below:

Revenues$960,000ExpensesCost of goods sold$400,000Operating and administrative expenses201,000Depreciation expense32,000633,000Income before taxes327,000Income tax expenses78,000Net income$249,000Earnings per share (100,000 shares)$2.49

The following data is compiled relative to Sunland's operating segments:

Percent Identified with SegmentHotelsGrainsCandyRevenues42%50%8%Cost of goods sold46494Operating and administrative expense365015Depreciation expense434011

Included in the amounts allocated to each segment on the above percentages are the following expenses which relate to general corporate activities:

Operating SegmentHotelsGrainsCandyTotalsOperating and administrative expense$13,000$6,800$3,700$23,500Depreciation expense2,1005,3002,90010,300

(a)

a schedule showing the amounts distributed to each segment.

Operating SegmentHotelsGrainsCandyTotalsRevenues$

$

$

$

ExpensesCost of goods sold

Operating and admin. expense

Depreciation expense

Total expenses

Operating profit$

$

$

$

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Advanced Accounting

Authors: Paul Marcus Fischer, Rita H Cheng, William James Taylor, Roger Taylor

10th Edition

0324379056, 9780324379051

More Books

Students also viewed these Accounting questions

Question

What is the effect of word war second?

Answered: 1 week ago