Reference no: EM133171703
Questions -
Q1. In the income statement for the current year, the entity which is subject to the requirements of segment report, reported external sales of P60,000,000, internal sales of P5,000,000, expenses of P45,000,000. The combined total assets of all operating segments at year-end amounted to P56,000,000. What is the lowest amount of external revenue that should be disclosed by reportable segments?
A. 45,000,000
B. 15,000,000
C. 6,500,000
D. 3,750,000
E. None of them
Q2. Sincere Corporation financial statements for the year ended December 31, 2021 are authorized for issue on March 30, 2022. On January 28, 2022, a fire destroyed partially the production site of the company resulting to damages of P2,000,000, only P1,500,000 of which is covered by insurance. On March 10, 2022, Peaceful issued additional 100,000 shares at P10 par value. On March 15, 2022, a customer owing P400,000 to the company filed for bankruptcy. The allowance of doubtful accounts amounting to P200,000 as of December 31 included P50,000 pertaining to the said customer. What amount should be adjusted on December 31, 2021 in relation to these events?
A. 350,000
B. 200,000
C. 400,000
D. 2,400,000
E. None of them
|
How much is the sum of the present value of expected return
: Thus, the sum of the expected returns over those periods is $150,000. How much is the sum of the present value of the expected return
|
|
What is the cost of food consumed dollars
: The following information was collected at the end of the month: Food Sales $122,330 Cooking Liquor $400. What is the Cost of Food Consumed dollars
|
|
Assess the major ethical issues in japan
: The Goal: Research and assess the major ethical issues in Japan
|
|
What is the importance of data analysis
: Question 1: What is the importance of data analysis? Question 2: How did adding visual representations of the data change your analysis?
|
|
What is the lowest amount of external revenue
: The combined total assets of all operating segments at year-end amounted to P56,000,000. What is the lowest amount of external revenue
|
|
Umplementation of equality
: In 1995, he created eight diversity task forces around demographic groups such as women and men, as well as Asians, African Americans, LGBT (lesbian, gay, bisex
|
|
How much interest after-tax would dana earn
: Dana intends to invest $46,000 in either a Treasury bond or a corporate bond. How much interest after-tax would Dana earn by investing in the corporate bond
|
|
Prepare the necessary journal entries for partnership
: For each case, prepare all necessary journal entries for the partnership's liquidation. Use a statement of liquidation as solution to each case
|
|
How is the letter of management representation useful
: Inventory is fairly stated at the lower of cost or market and includes no obsolete items. How is letter of management representation useful as audit evidence
|