ACT 6692 Mod 20 Assignment

ACT 6692 Mod 20 Assignment - ACT 6692 Module 20 Assignment...

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ACT 6692 Module 20 – Assignment (Problems) 20-1 - Segment reporting . FASB Statement No. 131, “Reporting Disaggregated Information about a Business Enterprise” requires the reporting of disaggregated financial data about the different types of business activities in which an enterprise engages. Instructions Identify 4 of the 6 items of disaggregated information the FASB requires that an enterprise report. 20-2—Segment reporting . Helton Company's condensed income statement is presented below: Revenues $1,000,000 Expenses Cost of goods sold $400,000 Operating and administrative expenses 200,000 Depreciation expense 40,000 640,000 Income before taxes 360,000 Income tax expenses 108,000 Net income $ 252,000 Earnings per share (100,000 shares) $2.52 The following data is compiled relative to Helton's operating segments: Percent Identified with Segment Hotels Grains Candy Revenues 42% 50% 8% Cost of goods sold 48 49 3 Operating and administrative expense 35 50 15 Depreciation expense 46 42 12 Included in the amounts allocated to each segment on the above percentages are the following expenses which relate to general corporate activities: Operating Segment Hotels Grains Candy Totals Operating and administrative expense $12,000 $9,000 $3,000 $24,000 Depreciation expense 3,500 4,000 2,500 10,000 Instructions (a) Prepare a schedule showing the amounts distributed to each segment. (b)
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ACT 6692 Mod 20 Assignment - ACT 6692 Module 20 Assignment...

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