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For the first quarter of 2018, Jorge Limited has four operating segments. The total income from operations is $213,000. The results are as follows: SEGMENTS (000 of dollars) One Two Three Four Sales $ 250 $ 200.0 $ 500 $ 450.0 Variable Costs: Cost of Goods Sold 140 172.8 240 187.5 Selling & Administrative 30 36.0 30 30.0 Contribution Margin 80 ( 8.8) 230 232.5 Fixed Costs: Cost of Goods Sold 60 19.2 60 62.5 Selling & Administrative 45 24.0 30 20.0 Net Income $ (25) $(52.0) $ 140 $ 150.0 If a segment is discontinued, about 50% of the fixed costs and expenses for that segment would be saved. Top management is considering the discontinuation of one or both of the unprofitable segments. Most of the managers agree that both segments should be discontinued. INSTRUCTIONS: 1. Should Jorge Limited eliminate one or both of the unprofitable segments? Explain. Prepare analyzes to support your answer. 2. Compare the total income for all four segments with the total income if segment Two was eliminated. Determine the difference and explain the difference.
The cost of the equipment is $10,000. The company has been offered $300 for its parts. What is the journal entry that would record this transaction?
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(Issuance, Exercise, and Termination of Stock Options) On July 1, 2013, Hooker Financial Corporation granted 50,000 options to key executives. Each option allows the executive to purchase one share of Hooker’s $1 par value common stock at a price of ..
For each of the following transactions, identify the net asset classification (unrestricted, temporarily restricted, permanently restricted) that is affected in the NFPO’s financial statements for the year ended December 31, 2012. More than one net a..
As of December 31, 2010 total assets were $8,000, total liabilities were $3,500 and contributed capital was $1,500. The only other component of equity as of 12/31/10 was retained earnings.
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