[The following Information applies to the questions displayed below.] The following is financial Information describing the six operating segments that make up Chucktown Sauce Company (In thousands): Segments Red Blue Sales to outside parties $ 1,813 $ 814 Green $ 516 Pink Black White $ 311 $123 $ 101 Intersegment revenues 18 93 111 e 18 384 Salary expense 616 381 404 314 319 64 Rent expense 141 168 83 94 44 33 Interest expense 67 61 84 51 16 7 Income tax expense (savings) 143 89 63 (88) (66) e Consider the following questions Independently. None of the six segments have a primarily financial nature. Now assume each of these six segments has a profit or loss (in thousands) as follows. Which segments warrant separate disclosure? ote: You may select more than one answer. Single click the box with the question mark to produce a check mark for a correct swer and double click the box with the question mark to empty the box for a wrong answer. Any boxes left with a question mark Ill be automatically graded as Incorrect.

[The following Information applies to the questions displayed below.] The following is financial Information describing the six operating segments that make up Chucktown Sauce Company (In thousands): Segments Red Blue Sales to outside parties $ 1,813 $ 814 Green $ 516 Pink Black White $ 311 $123 $ 101 Intersegment revenues 18 93 111 e 18 384 Salary expense 616 381 404 314 319 64 Rent expense 141 168 83 94 44 33 Interest expense 67 61 84 51 16 7 Income tax expense (savings) 143 89 63 (88) (66) e Consider the following questions Independently. None of the six segments have a primarily financial nature. Now assume each of these six segments has a profit or loss (in thousands) as follows. Which segments warrant separate disclosure? ote: You may select more than one answer. Single click the box with the question mark to produce a check mark for a correct swer and double click the box with the question mark to empty the box for a wrong answer. Any boxes left with a question mark Ill be automatically graded as Incorrect.

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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Required information [The following information applies to the questions displayed below.] The following is financial information describing the six operating segments that make up Fairfield, Inc. (in thousands): Segments Red Sales to outside parties $1,832 Blue $ 833 Green $ 535 Pink $ 330 Black White $ 142 $ 120 Intersegment revenues 37 112 130 37 323 Salary expense 635 400 423 333 338 83 Rent expense 160 187 102 113 63 52 Interest expense 86 80 103 70 35 26 Income tax expense (savings) 162 108 82 (107) (85) Consider the following questions independently. None of the six segments have a primarily financial nature. a. What minimum revenue amount must any one segment generate to be of significant size to require disaggregated disclosure? (Enter your answer in dollars but not in thousands.) Minimum revenues
Required Information [The following Information applies to the questions displayed below.] The following is financial Information describing the six operating segments that make up Chucktown Sauce Company (In thousands): Segments Red Sales to outside parties $ 1,813 Blue $ 814 Green Pink Black White $ 516 $ 311 $ 123 $ 101 Intersegment revenues 18 93 111 0 18 304 Salary expense 616 381 404 314 319 64 Rent expense 141 168 83 94 44 33 Interest expense 67 61 84 51 16 7 Income tax expense (savings) 143 89 63 (88) (66) e Consider the following questions independently. None of the six segments have a primarily financial nature. c. What volume of revenues must a single customer generate to necessitate disclosing the existence of a major customer? Note: Enter your answer In dollars but not in thousands. Volume of revenues
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