Bright roofings ceo is aware that some employees have

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Unformatted text preview: rson concerned. Bright Roofing’s CEO is aware that some employees have filed lawsuits against Bright Roofing. He seeks your help to determine whether any adjustments need to be provided in the company’s financial statements. Your answer to his question will be: a. b. c. d. No provision for compensation needs to be recognized. Disclose the lawsuit as a note to accounts. No disclosure is required Provide any amount the CEO so wishes Q10. 4C’s Ltd total revenue from three operating segments is as follows: Segment Toys Food Furniture Combined Elimination Consolidated ----------------------------- in S$ ---------------------------Sales Inter External Segment Total Customers Sales Revenues 70,000 30,000 100,000 22,000 4,000 26,000 8,000 16,000 24,000 100,000 50,000 150,000 (50,000) (50,000) 100,000 100,000 Which operating segment(s) is (are) reporting segment(s)?: A. B. C. D. ANS Toys only Toys and Food only Toys, Food and Furniture None of the above 5 ACCT201 SECTION B (TOTAL 80 MARKS) Question 1 Integrity Company a company in Singapore entered into a lease agreement for an equipment with Promet Leasing Co Ltd, a company located in Malaysia, o...
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This document was uploaded on 04/07/2014.

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