Sandpiper Corporation Paid $120,000 for Annual Property Taxes on January
Sandpiper Corporation paid $120,000 for annual property taxes on January 15,2014,and $20,000 for building repair costs on March 10,2014.Total repair expenses for the year were estimated to be $200,000,and are normally accrued during the year until incurred.What total amount of expense for these items was reported in Sandpiper's first quarter 2014 interim income statement?
The estimated taxable income for Shebill Corporation on January 1,2014,was $80,000,$100,000,$100,000,and $120,000,respectively,for each of the four quarters of 2014.Shebill's estimated annual effective tax rate was 30%.During the second quarter of 2014,the estimated annual effective tax rate was increased to 34%.Given only this information,Shebill's second quarter income tax expense was
On January 5,2014,Eagle Corporation paid $50,000 in real estate taxes for the calendar year.In March of 2014,Eagle paid $180,000 for an annual machinery overhaul and $10,000 for the annual CPA audit fee.What amount was expensed for these items on Eagle's quarterly interim financial statements?
The accountant for Baxter Corporation has assigned most of the company's assets to its three segments as follows:
The unassigned assets consist of $430,000 of unallocated goodwill and $270,000 of assets attached to the corporate headquarters.For internal decision-making purposes,goodwill is not assigned to the segments and the assets assigned to the corporate headquarters are allocated equally to the operating segments.
1.What is the proper threshold value to use in determining which of the operating segments shown above are reporting segments?
2.Which of the operating segments are considered reporting segments?