Transport Corporation is organized into four operating segments. The internal reporting system generated the following segment information:AutosTrucksSUVsMotorcyclesPercentage thresholdRequired:Revenues fromIntersegmentOperatingOutsidersTransfersExpenses$4,055,000$155,000$3,655,000$3,555,000$255,000$4,055,000$2,655,000$0$2,045,000$955,000$65,000$1,075,00010%Note: Use cells A2 to D9 from the given information to complete this question. Formulas for losses must return negative values.Calculate the profit or loss per segment and determine which segments should be reported separately.AutosTrucksSUVsMotorcyclesTotalPercentage thresholdAbsolute value of profit or loss * 10%Revenues fromIntersegmentOperatingOutsidersTransfersExpenses$4,055,000$155,000$3,655,000Profit$555,000LossExceeds ReportingThreshold$3,555,000$255,000$4,055,000($245,000)$2,655,000So$2,045,000$955,000$65,000$1,075,000$555,00010%($245,000)10%

I'll calculate the profit or loss for each segment and determine which should be reported separately…

Answered: Transport Corporation is organized into…

Managerial Accounting

15th Edition

ISBN:9781337912020

Author:Carl Warren, Ph.d. Cma William B. Tayler

Publisher:Carl Warren, Ph.d. Cma William B. Tayler

Chapter10: Evaluating Decentralized Operations

Section: Chapter Questions

Problem 5E: Service department charges In divisional income statements prepared for Demopolis Company, the...

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(Segmented Reporting) Carlton Company is involved in four separate industries. The following information is available for each of the four industries. Check the below image for information. InstructionsDetermine which of the operating segments are reportable based on the:(a) Revenue test.(b) Operating profit (loss) test.(c) Identifiable assets test.
In conformity with the revenue test, what is the total revenue of the reportable segments? A. 51,000 B. 60,000 C. 71,000 D. 52,000
Dancel Company has the following information for its five business segments: Revenue to external Segment Intersegment revenue Segment assets customers A 20,000,000 2,000,000 25,000,000 B 5,000,000 500,000 5,000,000 C. 2,800,000 1,000,000 3,500,000 ID 1,200,000 200,000 1,500,000 E 1,000,000 250,000 1,000,000 How much is the minimum amount of external revenue that should be reported by the reportable segments? A. 22,500,000 B. 27,000.000 C. 49 500,000 D 6.600.00O
Nottage Company has four separate operating segments:What revenue amount must one customer generate before it must be identified as a major customer?a. $39,600b. $42,200c. $46,500d. $49,200
59. Question: In conformity with the revenue test, what is the total revenue of the reportable segments? CHOICES: P51,000 P52,000 P71,000 P60,000
Which of the following types of quantitative information are required to be disclosed in Form 10-K for each reportable segment? Select one: a. Profit or loss amounts b. Total assets amounts c. The amount of revenue from a single customer representing 10% or more of any reportable segment's total revenue. d. A and B e. B and C f. A and C g. A, B, and C
How many reportable segments does the entity have under IFRS 8, Operating Segments?
Line Item Description SegmentMediaNetworks SegmentParks, Experiences,and Products SegmentEntertainment Direct-to-Consumer& International Revenues $28,393 $16,502 $9,636 $16,967 Operating expenses (19,400) (16,600) (7,100) (19,800) Operating income $8,993 $(98) $2,536 $(2,833) Assume the following percentages of total operating expenses for each segment are variable: Segment Percentage of VariableOperating Expenses Media Networks 75% Parks, Experiences, and Products 60% Studio Entertainment 80% Direct-to-Consumer & International 70% Question Content Area a. Prepare a variable costing income statement for The Walt Disney Company by segment. If required, use a minus sign to indicate an operating loss. Round all amounts to the nearest million. The Walt Disney CompanyVariable Costing Income Statement(in millions) Line Item Description MediaNetworks Parks, Experiences,and Products StudioEntertainment Direct-to-Consumer &International…
Ramco company operates in five identifiable segments, A,B,C,D and E. During the past years, sales to unaffiliated customers and intersegments sales for each segments were as follows: (Photo) Required:Applying the revenue test, determine which of the segments reportable segments are.
Nottage Company has four separate operating segments: East West North South Sales to outsiders $188000 $126000 $65000 $43000 Inter segment transfers 16000 6000 13000 8000 What revenue amount must one customer generate before it must be identified as a major customer? Choose the correct.a. $39,600b. $42,200c. $46,500d. $49,200
Pina Company is involved in four separate industries. The following information is available for each of the four industries. Operating Segment W a. X Y Z Total Revenue Revenue test. $57,246 9,860 24,675 6,919 $98,700 Operating Profit (Loss) $16,970 2,570 (3,260) Determine which of the operating segments are reportable based on the: W&X Reportable Segments 1,220 $17,500 Identifiable Assets $165,764 82,882 20,006 17,148 $285,800
An entity and its divisions reported the following for the year 20xl: Sales to unaffiliated customers 38,000,000 15,000,000 Intersegment sales of products similar to those sold to unaffiliated customers Interest earned on loans to other operating segments 1,600,000 The entity and all of its divisions are engaged solely in manufacturing operations. To qualify as reportable segment, the segment revenue should at least be what amount?

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