accounts data bank

Question # 00003721 Posted By: spqr Updated on: 11/19/2013 04:55 AM Due on: 11/30/2013
Subject Accounting Topic Accounting Tutorials:
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6. William Corporation, which has a fiscal year ending January 31, had the following pretax accounting income and estimated effective annual income tax rates for the first three quarters of the year ended January 31, 2008:

William's income tax expenses in its interim income statement for the third quarter are:
A. $36,000.
B. $73,500.
C. $46,500.
D. $120,000.


7. On June 30, 2008, String Corporation incurred a $220,000 net loss from disposal of a business component. Also, on June 30, 2008, String paid $60,000 for property taxes assessed for the calendar year 2008. What amount of the preceding items should be included in the determination of String's net income or loss for the six-month interim period ended June 30, 2008?
A. $250,000
B. $220,000
C. $140,000
D. $280,000

8. Trevor Company discloses supplementary operating segment information for its three reportable segments. Data for 2008 are available as follows:

Additional 2008 expenses include indirect operating expenses of $200,000. Appropriately selected common indirect operating expenses are allocated to segments based on the ratio of each segment's sales to total sales. The 2008 operating profit for Segment B was:
A. $180,000
B. $120,000
C. $150,000
D. $250,000

9. Trevor Company discloses supplementary operating segment information for its three reportable segments. Data for 2008 are available as follows:

Allocable costs for the year was $180,000. Allocable costs are assigned based on the ratio of a segment's income before allocable costs to total income before allocable costs. The 2008 operating profit for Segment B was:
A. $110,000
B. $180,000
C. $126,000
D. $120,000


10. Trimester Corporation's revenue for the year ended December 31, 2008, was as follows:

Trimester has a reportable operating segment if that segment's revenue exceeds:
A. $65,500
B. $60,000
C. $64,500
D. $61,000

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  1. Tutorial # 00003532 Posted By: spqr Posted on: 11/19/2013 05:09 AM
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