Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. 24. the following information pertains to revenue

24. The following information pertains to revenue earned by Timm Co.'s industry segments...

80.2K

Verified Solution

Question

Accounting

image

24. The following information pertains to revenue earned by Timm Co.'s industry segments for the year ended December 31, Year 2: Total Segment Alo Bix Cee Dil Combined Elimination Consolidated Sales to unaffiliated Intersegment customers sales $ 5,000 $ 3,000 8,000 4,000 4,000 43,000 16,000 60,000 23,000 (23,000) $60.000 revenue $ 8,000 12,000 4,000 59.000 83,000 (23,000) $60.000 In conformity with the revenue test, Timm's reportable segments were a. Only Dil. b. Only Bix and Dil. c. Only Alo, Bix, and Dil. d. Alo, Bix, Cee, and Dil. 25. The following information pertains to Aria Corp. and its divisions for the year ended December 31, Year 2: $2,000,000 Sales to unaffiliated customers Intersegment sales of products similar to those sold to unaffiliated customers Interest earned on loans to other industry segments 600,000 40,000 Aria and all of its divisions are engaged solely in manufacturing operations. Aria has a reportable segment if that segment's revenue exceeds a. $264,000 b. $260,000 $204,000 d. $200,000 c

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Zin AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

Problem 2: Evaluate the following postfix expression, using the rules given in Section I of Lab...

Programming
Q

A loop of wire has the shape shown in the drawing The top part of...

Physics
Q

Vocabulary Terms treatment observational study experiment experimental units retrospective study Definitions a a study in...

Statistics
Q

c Find the value of the following determinant 1 2 8 5 T 7 1...

Algebra
Q

XX**2O 64?660334The first four elements of a pattern are shown in the diagram above. If...

Algebra
Q

Quiz Review Question (5 marks) CORPORATE TAXATION Calculate the federal tax due on corporate...

Accounting
Q

Answer the following true or false questions using the dropdowns provided. 1. Premium bonds refer...

Accounting
Q

Non-statistical Problem You work for a top-notch audit firm, Foreman & Griswold LLP. You have...

Accounting
Q

Prepare a fictitious balance sheet,Statement of Retained Earnings and income statement of a business. The...

Accounting
Q

During Year 1, Thomas Company acquired $20,000 cash from the issue of common stock. The...

Accounting
Q

Northwest Fur Co. started the year with $93,000 of merchandise inventory on hand. During the...

Accounting
Q

Consider projects A and B with the following cash flows: A -$39 - 64...

Finance