ACCO 3033

ANGEL COMPANY

ANGEL COMPANY
Statement of Comprehensive Income
For The Quarter Ended September 30, 2015
Sales
Cost of Goods Sold
Gross Profit
Operating Expenses
Operating Income
Gain on sale of equipment
Profit before income tax
Income Tax
PROFIT

2,700,000.00
1,620,000.00
1,080,000.00
255,000.00
825,000.00
100,000.00
725,000.00
217,500.00
507,500.00

Supplementary Computations:
Total Sales
Multiply by
Sales for third quarter

9,000,000.00
0.30
2,700,000.00

Sales
Multiply by gross profit rate
Gross Profit for third quarter

2,700,000.00
0.40
1,080,000.00

Sales
Gross Profit
Cost of Goods Sold for third quarter

2,700,000.00
1,080,000.00
1,620,000.00

Variable operating expenses

Multiply by sales rate for third quarter
Variable operating expenses for third

600,000.00
0.30
180,000.00

Fixed operating expenses

Multiply by
Fixed operating expenses for third qua

300,000.00
0.25
75,000.00

Variable operating expenses

Fixed operating expenses

180,000.00
75,000.00

Total operating expenses for third quar

255,000.00

Profit before income tax

Multiply by income tax rate
Income Tax

255,000.00
0.30
76,500.00

ACCO 3033
ABC CORPORATION

Total Sales
Multiply by percent of commission
Total sales commission expense

Sales commission expense recognized in first quarter

(25,000,000 x 8%)
Sales commission expense - second quarter

55,000,000.00
0.12
6,600,000.00

2,000,000.00
4,600,000.00

ACCO 3033
GALAXY COMPANY

GALAXY COMPANY
Statement of Comprehensive Income
For the Month of October, 2015
Net Sales
Cost of Goods Sold
Merchandise Inventory, Oct. 1
Purchases
Goods available for sale
Merchandise Inventory, Oct 31
Gross Profit
Selling Expenses
General and Administrative Expenses
PROFIT

OMPANY
ehensive Income
October, 2015
239,100.00
280,000.00
215,000.00
495,000.00
372,600.00

122,400.00
116,700.00
54,700.00
19,000.00
43,000.00

ACCO 3033
RED COMPANY
Segment
A
B
C
D
E
F

Total Revenue
10,000,000.00
8,000,000.00
6,000,000.00
3,000,000.00
4,250,000.00
1,500,000.00
32,750,000.00

Operating Profit
1,750,000.00
1,400,000.00
1,200,000.00
550,000.00
675,000.00
225,000.00
5,800,000.00

To be identified as a reportable segment, the segment should have any of the

following characteristics:
Its total revenue are at least
Its operating profit is at least
Its identifiable assets are at least
The following qualify as reportable segments (with their corresponding total revenue)
Segment
Segment
Segment
Segment
Segment

A
B
C
D
E

Total revenues of A,B,C,D and E totals P31, 250, 000 which represents 95% of total segmen
Thus, segments A, B, C, D and E are considered as reportable business segments

Identifiable Assets
20,000,000.00
17,500,000.00
12,500,000.00
7,500,000.00
7,500,000.00
3,000,000.00
68,000,000.00

ent should have any of the

3,275,000.00
580,000.00
6,800,000.00

heir corresponding total revenue)

10,000,000.00
8,000,000.00
6,000,000.00
3,000,000.00
4,250,000.00
31,250,000.00

0 which represents 95% of total segments' revenue

d as reportable business segments.

ACCO 3033
BLUE BAY
Segment
A
B
C
D
E

Identifiable Assets
External Revenues
10,000,000.00
25,000,000.00
4,000,000.00
8,000,000.00
5,000,000.00
6,000,000.00
20,000,000.00
5,000,000.00
11,000,000.00
22,000,000.00
50,000,000.00
66,000,000.00

To be identified as a reportable segment, the segment should have any of the

following characteristics:
Its identifiable assets are at least
Its total revenue are at least
Its operating profit(loss) is at least

The following qualify as reportable segments (with their corresponding external

Segment
Segment
Segment
Segment
Segment

A
B
C
D
E

Thus, all geographical segments are deemed reportable.

Internal Revenues Total Revenues

5,000,000.00
30,000,000.00
2,000,000.00
10,000,000.00
1,000,000.00
7,000,000.00
8,000,000.00
13,000,000.00
4,000,000.00
26,000,000.00
20,000,000.00
86,000,000.00
should have any of the

5,000,000.00
8,600,000.00
2,000,000.00

eir corresponding external revenue)

portable.

25,000,000.00
8,000,000.00
6,000,000.00
5,000,000.00
22,000,000.00
66,000,000.00

Profit
8,000,000.00

(Loss)
(3,000,000.00)

1,000,000.00
(4,000,000.00)
11,000,000.00
20,000,000.00

(7,000,000.00)

ACCO 3033

Segment
A
B
C
D
E

Profit
8,000,000.00

(Loss)
(3,000,000.00)

1,000,000.00
(4,000,000.00)
11,000,000.00
20,000,000.00

Minimum operating profit (loss)

(7,000,000.00)
2,000,000.00

Based on operating profit test, segments A, B, D and E are reportable.

and E are reportable.

ACCO 3033
OLIVER COMPANY

Sales of Segment no. 1

Traceable costs - Segment No. 1
Common costs allocated to Segment No. 1
OPERATING PROFIT - SEGMENT NO. 1

Supplementary Computations:
Total Sales
Multiply by
SALES - SEGMENT NO. 1
Common costs
Multiply by
COMMON COSTS - SEGMENT NO. 1
Numerator:
Sales - Segment No. 1
Traceable costs - Segment No. 1
Profit before common costs - segment no. 1
Denominator:
Total Sales
Total traceable costs
Total profit before common costs

3,000,000.00
1,750,000.00
750,000.00
500,000.00

7,500,000.00
0.40
3,000,000.00
1,500,000.00
0.50
750,000.00

3,000,000.00
1,750,000.00
1,250,000.00

7,500,000.00
5,000,000.00
2,500,000.00

ACCO 3033
EBONY COMPANY

Sales of Segment no. 1

Traceable costs - Segment No. 1
Common costs allocated to Segment No. 1
OPERATING PROFIT - SEGMENT NO. 1

Supplementary Computations:
Common costs
Multiply by
COMMON COSTS - SEGMENT NO. 1
Numerator:
Sales - Segment No. 1
Traceable costs - Segment No. 1
Profit before common costs - segment no. 1
Denominator:
Total Sales
Total traceable costs
Total profit before common costs

4,000,000.00
2,200,000.00
1,080,000.00
720,000.00

1,800,000.00
0.60
1,080,000.00

4,000,000.00
2,200,000.00
1,800,000.00

10,000,000.00
7,000,000.00
3,000,000.00