ADV.FIN.ACCT.LL W/CONNECT+PROCTORIO PLUS
12th Edition
ISBN: 9781266380570
Author: Christensen
Publisher: MCG
expand_more
expand_more
format_list_bulleted
Question
Chapter 13, Problem 13.2.6E
To determine
Introduction:
Segment reporting: When a company operates various businesses in various geographical areas or have different segments of one business in similar area, then segment reporting is mandatory as per ASC280. In this, company has to report various segments income, expenses, assets, liabilities, etc.
To choose: The correct option
Expert Solution & Answer
Want to see the full answer?
Check out a sample textbook solution
Students have asked these similar questions
An entity and its divisions reported the following for the current year:
Sales to unaffiliated customers
40,000,000
Intersegment sales of product similar to those sold to unaffiliated customers
12,000,000
Interest earned on loans to other operating segments
1,000,000
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?
A. 5,300,000
B. 4,100,000
C. 5,200,000
D. 4,000,000
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?
17
Chapter 13 Solutions
ADV.FIN.ACCT.LL W/CONNECT+PROCTORIO PLUS
Ch. 13 - Prob. 13.1QCh. 13 - Prob. 13.2QCh. 13 - What are the three 10 percent significance tests...Ch. 13 - Prob. 13.4QCh. 13 - A company has 10 industry segments, of which the...Ch. 13 - Prob. 13.6QCh. 13 - Prob. 13.7QCh. 13 - Prob. 13.8QCh. 13 - Prob. 13.9QCh. 13 - Prob. 13.10Q
Ch. 13 - Prob. 13.11QCh. 13 - Prob. 13.12QCh. 13 - Prob. 13.13QCh. 13 - Prob. 13.14QCh. 13 - Maness Company made a change in accounting for its...Ch. 13 - Prob. 13.1CCh. 13 - Prob. 13.2CCh. 13 - Prob. 13.3CCh. 13 - Prob. 13.7CCh. 13 - Prob. 13.8CCh. 13 - Prob. 13.9CCh. 13 - Reportable Segments Data for the seven operating...Ch. 13 - Prob. 13.2.1ECh. 13 - Prob. 13.2.2ECh. 13 - Prob. 13.2.3ECh. 13 - Prob. 13.2.4ECh. 13 - Prob. 13.2.5ECh. 13 - Prob. 13.2.6ECh. 13 - Prob. 13.2.7ECh. 13 - Prob. 13.2.8ECh. 13 - Prob. 13.2.9ECh. 13 - Prob. 13.2.10ECh. 13 - Prob. 13.2.11ECh. 13 - Prob. 13.3.1ECh. 13 - Prob. 13.3.2ECh. 13 - Multiple-Choice Questions on Interim Reporting...Ch. 13 - Prob. 13.3.4ECh. 13 - Prob. 13.3.5ECh. 13 - Prob. 13.3.6ECh. 13 - Prob. 13.3.7ECh. 13 - Prob. 13.3.8ECh. 13 - Prob. 13.3.9ECh. 13 - Prob. 13.3.10ECh. 13 - LIFO Liquidation During July, Laesch Company,...Ch. 13 - Inventory Write-Down and Recovery Cub Company, a...Ch. 13 - MutiniedChoice Questions on Income Taxes at...Ch. 13 - Prob. 13.6.2ECh. 13 - Prob. 13.6.3ECh. 13 - MutiniedChoice Questions on Income Taxes at...Ch. 13 - Prob. 13.6.5ECh. 13 - Prob. 13.6.6ECh. 13 - Prob. 13.7ECh. 13 - Prob. 13.8ECh. 13 - Prob. 13.9ECh. 13 - Prob. 13.10ECh. 13 - Prob. 13.11ECh. 13 - Prob. 13.12ECh. 13 - Prob. 13.13PCh. 13 - Prob. 13.14PCh. 13 - Interim Income Statement Chris Inc. has...Ch. 13 - Prob. 13.17PCh. 13 - Prob. 13.20PCh. 13 - Matching Terms Match the items in the left-hand...
Knowledge Booster
Similar questions
- 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. 52,000arrow_forwardPorter Company is engaged solely in manufacturing operations. The following data (consistent withprior-years data) pertain to the segments in which operations were conducted for the year endedDecember 31, 2019.Segment TotalRevenueSegmentProfitAssets at31/12/19A $10,000,000 $1,750,000 $20,000,000B 8,000,000 1,400,000 17,500,000C 6,000,000 1,200,000 12,500,000D 3,000,000 550,000 7,500,000E 4,250,000 675,000 7,000,000F 1,500,000 225,000 3,000,000Totals $32,750,000 5,800,000 67,500,000In its segment information for 2019, how many reportable segments does Porter have?A. 3B. 4C. 5D. 6arrow_forwardHow much is the minimum revenue for an operating segment to be classified as a reportable segment under IFRS 8, Operating Segments?arrow_forward
- The following information pertains to Redping Corporation for the year ended December 31, 2020.Sales to unaffiliated customers $2,000,000Inter-segment sales of products similar tothose sold to unaffiliated customers 600,000All of Redping’s segments are engaged solely in manufacturing operations. Redping has a reportablesegment if that segment’s revenue exceeds ____________________.A. $264,000B. $260,000C. $204,000D. $200,000arrow_forwardSpein Company is a diversified company that discloses supplemental financial information on its segments. The following information is available for 2019: Traceable Costs $225,000 240,000 Allocable Costs Segment X Segment Y Segment Z Totals Sales $400,000 300,000 200.000 135.000 $900,000 $600,000 $150,000 {5 } Allocable costs are assigned based on the ratio of a segment's income before allocable costs to total income before allocable costs. This is an appropriate method of allocation. Segment Y's profit for 2019 is A. 32,400 Small; 8,100 Medium; 1,620 Large B. 34,808 Small; 8,700 Medium; 1,740 Large C. 37,010 Small; 9,250 Medium; 1,850 Large D. 38,505 Small; 9,625 Medium; 1,925 Largearrow_forwardIn its segment information for 2021, how many reportable segments does Lulu Company have? A. 2 B. 3 C. 5 D. 6arrow_forward
- What are the reportable segments? (Answer should be presented in this manner, example: A-B-C-D-E-F-G)arrow_forwardWhite has a reportable segment if the segment's revenue will total to what amount? The following information pertains to the White Company and its divisions for the year ended December 31, 2014: Sales to unaffiliated customers P10,000,000 Inter-segment sales of products similar to those sold to unaffiliated customers 2,000,000 White Company and all of its divisions are engaged solely in manufɛcturing operations. Your answerarrow_forwardHow many reportable segments does the entity have under IFRS 8, Operating Segments?arrow_forward
- (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.arrow_forwardSubject - account Please help me. Thankyou.arrow_forwardWhite has a reportable segment if the segment’s revenue will total to what amount?arrow_forward
arrow_back_ios
SEE MORE QUESTIONS
arrow_forward_ios
Recommended textbooks for you
Survey of Accounting (Accounting I)AccountingISBN:9781305961883Author:Carl WarrenPublisher:Cengage Learning
Survey of Accounting (Accounting I)
Accounting
ISBN:9781305961883
Author:Carl Warren
Publisher:Cengage Learning