Vehicle Corporation is organized into four operating segments. The internal reporting system generated the following segment information: Revenues from Outsiders Intersegment Transfers Operating Expenses Autos $ 4,000,000 $ 100,000 $ 3,600,000 Trucks 3,500,000 200,000 4,000,000 SUVs 2,600,000 0 2,000,000 Motorcycles 900,000 50,000 1,020,000 The company incurred additional operating expenses (of a general nature) of $1,200,000. What is the profit or loss of each of these segments

Among the advantages of corporations are the ease of raising financial capital, professional management, and a. rapid promotions b. lower taxes c. limited liability d. specialization

The following balance sheet for the los gatos corporation was prepared by a recently hired accountant. in reviewing the statement you notice several errors. los gatos corporation balance sheet at december 31, 2018 assets cash $ 44,000 accounts receivable 86,000 inventories 57,000 machinery (net) 122,000 franchise (net) 32,000 total assets $ 341,000 liabilities and shareholders' equity accounts payable $ 54,000 allowance for uncollectible accounts 7,000 note payable 59,000 bonds payable 112,000 shareholders' equity 109,000 total liabilities and shareholders' equity $ 341,000 additional information: cash includes a $22,000 restricted amount to be used for repayment of the bonds payable in 2022. the cost of the machinery is $194,000. accounts receivable includes a $22,000 note receivable from a customer due in 2021. the note payable includes accrued interest of $7,000. principal and interest are both due on february 1, 2019. the company began operations in 2013. income less dividends since inception of the company totals $37,000. 52,000 shares of no par common stock were issued in 2013. 200,000 shares are authorized. required: prepare a corrected, classified balance sheet. (amounts to be deducted should be indicated by a minus sign.)

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