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In financial reporting of segment data, which of the following must be
considered in determining if an
industry segment is a reportable segment?
Question 30:
Included in the total profit and loss is interest expense of $10,000. In
addition, Riley has $1,500 of interest
income for its reportable segments that is not included in the reports
used internally. For purposes of
segment reporting, Riley should report segment profit of
Question 31:
Bard Co., a calendar-year corporation, reported income before income
tax expense of $10,000 and income
tax expense of $1,500 in its interim income statement for the first
quarter of the year. Bard had income
before income tax expense of $20,000 for the second quarter and an
estimated effective annual rate of 25%.
What amount should Bard report as income tax expense in its interim
income statement for the second
quarter?
Question 32:
December 31, 2005, all cash was used to reduce accounts payable.
How did these cash payments affect the
ratios?