#4 Total 2021 Revenue (50M + 7M) 57,000,000

Less: Total 2021 Expenses (30M + 10M) 40,000,000

Termination benefits 2,000,000 42,000,000
Net amount 15,000,000
Less: Impairment loss (36M - 40M) 4,000,000
Pretax loss on disposal of assets 5,000,000 9,000,000
Pretax income from discontinued operation 6,000,000
Less: Tax expense (25% x 6M) 1,500,000
Income from disontinued operation (net of tax) 4,500,000 B

#5 Total 2021 Revenue (1.5M + 700K) 2,200,000

Less: Total 2021 Expenses (2M + 900K)) 2,900,000
Severance and relocation 100,000 3,000,000
Net amount -800,000
Less: Impairment loss (1.8M - 2M) 200,000
Pretax income from discontinued operation -1,000,000 A

#6 Total 2021 Revenue 23,000

Less: Cost of goods sold 14,000
Gross profit 9,000
Less: Other expenses 17,000
Operating profit -8,000
Less: Gain on disposal of assets 15,000
Pretax income from discontinued operation 7,000
Less: Tax expense (25% x 7,000) 1,750
Income from disontinued operation (net of tax) 5,250 D
#4 Segment Sales Ratio
1 10,000,000 16.67%
2 20,000,000 33.33%
3 30,000,000 50.00%
60,000,000

Segment 1 Sales 10,000,000

Less: Segment 1 Expenses 4,000,000
Net profit before common cost 6,000,000
Less: Allocated common cost (9M x 16.67%) 1,500,000
Net operating profit 4,500,000 A

#6 Segment Sales Ratio

STEEL 5,000,000 41.67%
GARMENTS 4,000,000 33.33%
RETAIL 3,000,000 25.00%
12,000,000

RETAIL Segment Sales 3,000,000

Less: Traceable Expenses 1,500,000
Net profit before common cost 1,500,000
Less: Allocated common cost
Indirect expenses (2M x 25%) 500,000
Interest expense (500k x 25%) 125,000
Income tax (400k x 25%) 100,000 725,000
Net profit after common cost 775,000 A
#7 Sales 5,000,000
COGS -3,000,000
Selling expense incurred -250,000
Allocated depreciation (1.2M / 4) -300,000
Allocated real property tax expense (600k / 4) -150,000
Temporary inventory loss fully recognized -400,000
2nd Quarter Net Income 900,000.00 B

#8 Loss from hurricane (fully recognized) 500,000

Allocated insurance expense (400k / 4) 100,000
First Quarter Expenses 600,000 C

#9 Unadjusted 3rd Quarter Net Income 4,000,000

Allocated gain from 2nd Quarter (1.2M / 3) -400,000
Change in accounting policy (should be RE adj.) 200,000
Allocated 4th Quarter loss (600k / 2) -300,000
Should be allocated year-end bonus (2M / 4) -500,000
Adjusted 3rd Quarter Net Income 3,000,000 A

#10 1st Q (20M x 5%) 1,000,000

2nd Q (15M x 5%) 750,000
3rd Q (25M x 5%) 1,250,000
Total for 3 Quarters 3,000,000

Total computed bad debts expense for the year 4,500,000

Less: Interim total bad debts expense for 3 quarters 3,000,000
4th Quarter bad debts expense 1,500,000 B
#1 FV less cost to sell at date of purchase 1,650,000

Less: Purchase price 1,500,000

Gain on FV change 150,000 1. A

Increase in FV 400,000

Decrease in FV -50,000
FV of newborn BA 200,000

Net gain from change in FV of BA 550,000 2. B

CA on 1/1/22 1,650,000

Add: Net Gain from change in FV 550,000

CA on 12/31/22 2,200,000 3. C

FV less cost to sell of AP at the point of harvest 100,000 4. C

#3 10 Dairy Cattle 2 yo 400,000

20 Hogs 3 yo 500,000

15 Horses 1 yo 1,000,000

8 Carabaos 2.5 yo 200,000

Total CA 1/1/21 2,100,000

4 Dairy Cattle 1 yo 150,000

6 Carabaos 6 mos. 100,000

Total cost of BA purchased on June 30 250,000

Total CA befor FV adjustment (2.1M + 250k) 2,350,000

10 Dairy Cattle 3 yo 580,000

20 Hogs 4 yo 600,000

15 Horses 2 yo 1,350,000

8 Carabaos 3.5 yo 290,000

4 Dairy Cattle 1.5 yo 200,000

6 Carabaos 1 yo 140,000

FV on 12/31 with both Physical and Price Change 3,160,000 2. C

FV on 12/31 with both Physical and Price Change 3,160,000

Less: Total CA befor FV adjustment (2.1M + 250k) 2,350,000

Total gain from FV change 810,000 1. B

10 Dairy Cattle 2 yo 520,000

20 Hogs 3 yo 550,000
15 Horses 1 yo 1,200,000
8 Carabaos 2.5 yo 250,000
4 Dairy Cattle 1 yo 170,000
6 Carabaos 6 mos. 110,000
FV on 12/31 with Price Change W/O physical change 2,800,000

FV on 12/31 with both Physical and Price Change 3,160,000

Less: FV on 12/31 with Price Change W/O physical change 2,800,000
Gain from physical change 360,000 3. D

FV on 12/31 with Price Change W/O physical change 2,800,000

Less: Total CA befor FV adjustment (2.1M + 250k) 2,350,000
Gain from Price Change 450,000 4. A