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 (Inthousands):SegmentsRedSales to outside parties$ 1,813Blue$ 814GreenPinkBlackWhite$ 516$ 311$ 123$ 101Intersegment revenues189311118304salary expense61638140431431964Rent expense14116823944433Interest expense67618451167Income tax expense (savings)1438963(88)(66)@Consider the following questions Independently. None of the six segments have a primarily financial nature.Required:a. What minimum revenue amount must any one segment generate to be of significant size to require disaggregated disclosure?Note: Enter your answer in dollars but not in thousands.Minimum revenue

Segment Reporting -The disclosure of financial data regarding significant divisions or business…

[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 thousands): Segments Red Sales to outside parties $1,613 Blue $ 814 Green Pink Black White $516 $311 $123 $101 Intersegment revenues 18 93 111 18 204 Salary expense 616 281 404 214 319 64 Rent expense 141 168 23 94 44 33 Interest expense 67 61 $4 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.

[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 thousands): Segments Red Sales to outside parties $1,613 Blue $ 814 Green Pink Black White $516 $311 $123 $101 Intersegment revenues 18 93 111 18 204 Salary expense 616 281 404 214 319 64 Rent expense 141 168 23 94 44 33 Interest expense 67 61 $4 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.

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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Data for the three operating segments of Polyglot Company for the fiscal year ended June 30, 2006 were as follows (amounts in thousands): Alpha Beta Gamma TotalSales to outside customers $400 $500 $600 $1,500Intersegmental sale 50 40 30 120Traceable Expenses Intersegmental purchases 60 20 40 120Other 200 300 500 1,000Nontraceable expenses 150 Prepare a working paper to compute revenue and segment profit or loss for each segment. Nontracable expenses are allocated using the follow percentages: Alpha 27%; Beta 33%; Gamma 40%.
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