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BE24-3 BE24-5 BE24-6 BE24-9

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BE24-3 Linden Corporation is preparing its December 31, 2012, financial statements. Two events that occurred between December 31, 2012, and March 10, 2013, when the statements were issued, are described below.

1. A liability, estimated at 160,000 at December 31, 2012, was settled on February 26, 2013, at 170,000

2. A flood loss of 80,000 occurred on March 1, 2013.

What effect do these subsequent events have on 2012 net income?

BE24-5 Roder Corporation has seven industry segments with total revenues as follows.

Penley 600 Cheng 225
Konami 650 Takuhi 200
KSC 250 Molina 700
Red Moon 275

Based only on the revenues test, which industry segments are reportable?
Enter 1 if the segment is reportable. Enter 0 if the segment is not reportable.

BE24-6 Operating profits and losses for the seven industry segments of Roder Corporation are:

Penley 90 Cheng -20
Konami -40 Takuhi 34
KSC 25 Molina 150
Red Moon 50

Based only on the operating profit (loss) test, which industry segments are reportable?

BE24-9 Heartland Company’s budgeted sales and budgeted cost of goods sold for the coming year are $144,000,000 and $99,000,000, respectively. Short-term interest rates are expected to average 10%. If Heartland can increase inventory turnover from its present level of 9 times a year to a level of 12 times per year, compute its expected cost savings for the coming year

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