Topic: Operating Segments Requirements: (Show Solutions)a. Identify the reportable segments under the quantitative thresholds of PFRS 8.b. Determine whether the reportable segments meet the limit on external revenues under PFRS 8.c. Determine the minimum amount of revenue that warrants disclosure of a major customer. 3. Information on an entity's operating segments is shownbelow:Operating ExternalsegmentsInternalTotalProfit(Loss)Identifiablerevenuerevenuerevenueassets1,200,000200,000 1,400,000 (300,000)100,000 1,000,000 (180,000)5,000,000B900,0001,300,000800,000250,000 1,050,000220,000900,000600,000160,000760,000270,0001,800,000(20,000)(30,000)E300,000300,000800,000F200,000200,0001,200,000999Totals 4,000,000710,000 4,710,000(40,000)11,000,000 Requirements:a. Identify the reportable segments under the quantitativethresholds of PFRS 8.b. Determine whether the reportable segments meet the limit onexternal revenues under PFRS 8.Determine the minimum amount of revenue that warrantsC.disclosure of a major customer.

Segment reporting is mandatory upon fulfilling the stipulated criteria as prescribed by the…

3. Information on an entity's operating segments is shown below: Operating External segments Internal Total Profit (Loss) 200,000 1,400,000 (300,000) 100,000 1,000,000 (180,000) Identifiable revenue revenue revenue assets 1,200,000 5,000,000 900,000 1,300,000 800,000 250,000 1,050,000 220,000 900,000 1,800,000 600,000 160,000 760,000 270,000 300,000 800,000 (20,000) (30,000) (40,000) 300,000 200,000 200,000 4,000,000 1,200,000 11,000,000 Totals 710,000 4,710,000 ABCDEE

3. Information on an entity's operating segments is shown below: Operating External segments Internal Total Profit (Loss) 200,000 1,400,000 (300,000) 100,000 1,000,000 (180,000) Identifiable revenue revenue revenue assets 1,200,000 5,000,000 900,000 1,300,000 800,000 250,000 1,050,000 220,000 900,000 1,800,000 600,000 160,000 760,000 270,000 300,000 800,000 (20,000) (30,000) (40,000) 300,000 200,000 200,000 4,000,000 1,200,000 11,000,000 Totals 710,000 4,710,000 ABCDEE

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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