Question : Problems 143. The following information available for some of Branson’s segments (all : 1257564

 

Problems 

143. The following information is available for some of Branson’s segments (all amounts are in millions):

 

North America

Asia

Central America

Segment sales…………

$5,190

$750

$2,350

Segment operating income….

1,494

273

1,127

Segment average assets……

4,700

541

1,382

a. Determine the segment return on assets for each geographic segment.b. Comment on the results. How do the segments compare with respect to profitability? 

144.The Stapleton Company uses special journals for sales, purchases, cash receipts, cash disbursements, and uses a general journal. They operate with a perpetual inventory system.  The following transactions occurred during the current month of September:  

Sep.

1

Paid $2,400 cash for monthly rent to Wabash Properties, Check No. 1630.

 

4

Purchased merchandise on credit for $1,800 from Bell Co., terms 2/10, n/30. Invoice dated September4.

 

8

Sold merchandise on credit for $4,300 to Andrews Co., Invoice No. 413. The cost of the goods sold is $2,750.

 

10

Sold merchandise for $1,500 cash to LaceyCorp., Invoice No. 414. The cost of the good sold is $720.

 

13

Paid amount owed to Bell Co. from September 4 purchase, Check No. 1631.

 

17

Collected $4,300 cash from the Andrews Co. for merchandise sold on September8.

 

24

Sold merchandise on credit for $4,500 to FrasierCorp., Invoice No. 415. The cost of goods sold is $2,600.

 

31

Purchased office suppliesfor $3,055 from MaxwellCorp., Check No. 1632.

 

Record the above transactions into the appropriate journals that follow.

 

Sales JournalPage 15

Date

Account Debited

InvoiceNumber

PR

Accounts Receivable Dr.Sales Cr.

Cost of Goods Sold Dr. Inventory Cr.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Purchases JournalPage 16

Date

Account

Date ofInvoice

Terms

PR

AccountsPayableCr.

Inventory        Dr.

Office Supplies Dr.

OtherAccountsDr.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cash Receipts JournalPage 17

Date

Account Credited

Explanation

PR

CashDr.

SalesDiscountDr.

AccountsReceivableCr.

Sales Cr.

OtherAccountsCr.

Cost of Goods sold Dr. Inventory Cr.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cash Disbursements JournalPage 22

Date

Ck No.

Payee

Account Debited

PR

Cash Cr.

Inventory        Cr.

OtherAccountsDr.

AccountsPayableDr.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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