The amount L&L received related to the legal case against the supplier
What is $2.7M
100
This regulation provides the general guidance for income statement presentation
What is SEC Regulation S-X Rule 5-03
200
Under § 210.5-03.1 when income is derived from more than one operating segment in order to be combined it must be not more than this percent
What is 10%
200
gross profit/sales revenue
What is the formula for gross profit margin
200
Gains and losses that are usual in nature or expected to recur should not be reported as this
What is extraordinary items
200
A material event or transaction that is both unusual in nature and infrequent in occurrence
What is Extraordinary gains or losses
200
This standard uses 10 percent to determine if the income statement should be combined or segmented
What is ASC 225-10-S99-2(b)
300
In 2006 this was the percent of total sales that came from Sassy Spa
What is 12.9%
300
These are the two acceptable presentations used if cost of sales excludes depreciation
What is Cost of goods sold (exclusive of items shown separately below) or Cost of goods sold (exclusive of depreciation shown separately below)
300
The original purchase price of the asset minus accumulated depreciation
What is Net Book Value
300
The year that L&L should report the proceeds from the class action lawsuit on the income statement
What is 2006
300
This Staff Accounting Bulletin states that Gains or losses from the sale of assets should be reported as "other general expenses" pursuant to Regulation S-X, Article 5-03(6). Any material item should be stated separately
What is SAB Topic 13.B FN 68
400
The appropriate income statement presentation for Net Sales in 2005
What is a Combined Income Statement
Sales of goods and services $74.5 million
400
L&L had this amount of gross profit in 2006
What is $30.4 million
400
The sale, retirement, or exchange of property, plant and equipment
What is disposal of fixed assets
400
The appropriate income statement presentation for the proceeds from the settlement
What is other revenues and gains section of the income statement
400
This Staff Accounting Bulletin shows you how to disclose Cost of Goods Sold when depreciation is excluded
What is SAB Topic 11.B - S99-8
500
The appropriate income statement presentation for Net Sales in 2006
What is a Segmented Income Statement
Sales of Goods $75.3 million
Sales of Services $11.2 million
500
In 2005 L&L Gross Profit Margin Ratio was this
What is 37.58%
(28 / 74.5) X 100
500
The appropriate income statement presentation for the proceeds from the sale of the abandoned building
What is other revenues and gains section of the income statement
500
L&L realized this type of material provided by a supplier was a fake
What is vintage material
500
It is in this standard that you find guidance on Presentation of Unusual or Infrequently Occurring Items