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
How many reportable segments does the entity have under IFRS 8, Operating Segments?
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?
For the purpose of segment reporting, what amount should be reported as segment total profit? A. 930,000 B. 830,000 C. 845,000 D. 730,000
Bonita Industries and its divisions are engaged solely in manufacturing operations. The following data pertain to the segments in which operations were conducted for the year ended December 31, 2021. Industry A B с D E F Revenue Four O Three O Six O Five $ 8130000 6620000 4950000 2470000 3530000 1250000 Profit $1319000 1120000 962000 440000 532000 184000 Assets 12/31/21 $15980000 13940000 10110000 5290000 5530000 2400000 $26950000 $4557000 $53250000 In its segment information for 2021, how many reportable segments does Bonita have?
An entity identified the following segment for the current year: Segment Revenue Profit Assets A 10,000,000 1,750,000 20,000,000 B 8,000,000 1,400,000 17,500,000 C 6,000,000 1,200,000 12,500,000 D 3,000,000 550,000 7,500,000 E 4,000,000 575,000 5,500,000 F 2,000,000 525,000 3,000,000 What are the reportable segments? a. SEGMENT A, B and C b. SEGMENT A, B, C and D c. SEGMENT A, B, C, D and E d. SEGMENT A, B, C, D, E and F

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