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3 years ago

Grum Corp., a publicly owned corporation, is subject to the requirements for segment reporting.

Business

1 answer:

Orlov [11]3 years ago

7 0

Answer:

Option (d) $5,000,000

Explanation:

Data provided in the question:

Reported revenues = $50,000,000

Operating expenses = $47,000,000

Net income = $3,000,000

Payroll costs included in the operating expenses = $15,000,000

Combined identifiable assets of all industry segments = $40,000,000

Now,

If the revenue derived from sales to any single customer is 10% or more of the revenue of an enterprise then the amount of revenue from each customer shall be disclosed.

Therefore,

Grum should disclose major customer data if

sales to any single customer amount at least = 10% of Reported revenues

= 10% of $50,000,000

= $5,000,000

Option (d) $5,000,000

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You saving up to buy a car. You plan on making your first savings deposit one year from today, and then making deposits for the

Phantasy [73]

Answer:

$10,904.84

Explanation:

According to the scenario, computation of the given data are as follow:-

Year Deposit amount ($) At 9% for 3 years Future value of deposits ($)

1 $1,500 (1.09)^3 = 1.295029 $1,942.54

2 $3,000 (1.09)^2 = 1.1881 $3,564.3

3 $2,200 (1.09)^1 = 1.09 $2,398

4 $3,000 1 $3,000

Total $10,904.84

Future value = cash flow × (1 + interest rate)^number of years

When the amount of $10,904.84 is available, I buy the car.

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3 years ago

Borasco Corp. owns land with a fair market value of $200,000. Borasco purchased the land 10 years ago for $65,000 and owes a lia

FromTheMoon [43]

Answer: B. $65,000

Explanation:

The options to the question are:

A. $15,000

B. $65,000

C. $150,000

D. $200,000

It should be noted that the corporate liquidations of property are typically treated as either an exchange or a sale and the profit or the loss made will be recognized by the corporation usually based on the liquidating sale of the assets of the corporation.

In certain cases whereby the distributee that is, the individual who is entitled to partake in the share of an estate distribution is a corporation that is in charge of the distributing corporation, this may lead to the distribution not to be taxable.

Due to this, Alvo has a basis of $65,000. The reason is that the land was not sold and therefore Alvo did not get $200,000.

6 0

2 years ago

Technological improvements have made it possible to do a restaurant’s food cost percentage in about _____________ of the time it

EleoNora [17]

Answer: One-third

Explanation:

The impact of technology in our everyday life cannot be understated. Technology has made life easier by simplifying our work lives and personal lives. In the restaurant industry, technological terms such as artificial intelligence, mobile apps, smart devices etc are now common in the industry.

Technology helps in making work easier. This can be noticeable in knowing the food cost percentage of a restaurant. Through technology, the food cost percentage of a restaurant can now be known in one third of the time used before technology came into place.

3 0

2 years ago

Read 2 more answers

Which of the following might vary in on online purchase depending on where the purchaser lives?

kondaur [170]

Answer:

The sales tax

Explanation:

8 0

3 years ago

Read 2 more answers

SartainC orporation is planning its annual budget and has the following beginning and ending inventory levels planned for the ye

Tanzania [10]

Answer:

c.530,000 grams

Explanation:

Calculation for How much of the raw material should the company purchase during the year

First step is to prepare the Production Budget

PRODUCTION BUDGET

Budgeted unit sales 170,000

Add desired ending finished goods inventory

32,000

Total 202,000

(170,000+32,000)

Less beginning finished goods inventory (22,000)

Required production in units 180,000

(202,000-22,000)

Second step is to prepare Materials Budget

MATERIALS BUDGET

Raw materials required for production 540,000

(180,000*3 grams)

Add desired ending finished goods inventory

42,000

Total raw materials needed 582,000

(540,000+42,000)

Less beginning finished goods inventory (52,000)

Required material purchases 530,000 grams

(582,000-52,000)

Therefore the amount of the raw material that the company should purchase during the year is $530,000 grams

7 0

3 years ago