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Question;6. William Corporation, which has a fiscal year ending;January 31, had the following pretax accounting income and estimated effective;annual income tax rates for the first three quarters of the year ended January;31, 2008;William's income tax expenses in its interim income statement for the third;quarter are;A. $36,000.;B. $73,500.;C. $46,500.;D. $120,000.;7. On June 30, 2008, String Corporation incurred a;$220,000 net loss from disposal of a business component. Also, on June 30;2008, String paid $60,000 for property taxes assessed for the calendar year;2008. What amount of the preceding items should be included in the;determination of String's net income or loss for the six-month interim period;ended June 30, 2008?;A. $250,000;B. $220,000;C. $140,000;D. $280,000;8. Trevor Company discloses supplementary operating segment;information for its three reportable segments. Data for 2008 are available as;follows;Additional 2008 expenses include indirect operating expenses of $200,000.;Appropriately selected common indirect operating expenses are allocated to;segments based on the ratio of each segment's sales to total sales. The 2008;operating profit for Segment B was;A. $180,000;B. $120,000;C. $150,000;D. $250,000;9. Trevor Company discloses supplementary operating;segment information for its three reportable segments. Data for 2008 are;available as follows;Allocable costs for the year was $180,000. Allocable costs are assigned based;on the ratio of a segment's income before allocable costs to total income;before allocable costs. The 2008 operating profit for Segment B was;A. $110,000;B. $180,000;C. $126,000;D. $120,000;10. Trimester Corporation's revenue for the year ended;December 31, 2008, was as follows;Trimester has a reportable operating segment if that segment's revenue;exceeds;A. $65,500;B. $60,000;C. $64,500;D. $61,000


Paper#44957 | Written in 18-Jul-2015

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