Boecker is a multidivisional corporation that has both intersegment sales and sales to unaffiliated customers. Boecker should report segment financial information for each segment meeting which of the following criteria? a. Segment profit or loss is 10 percent or more of consolidated profit or loss. b. Segment profit or loss is 10 percent or more of combined profit or loss of all company segments. c. Segment revenue is 10 percent or more of combined revenue of all company segments. d. Segment revenue is 10 percent or more of consolidated revenue.

Boecker is a multidivisional corporation that has both intersegment sales and sales to unaffiliated customers. Boecker should report segment financial information for each segment meeting which of the following criteria? a. Segment profit or loss is 10 percent or more of consolidated profit or loss. b. Segment profit or loss is 10 percent or more of combined profit or loss of all company segments. c. Segment revenue is 10 percent or more of combined revenue of all company segments. d. Segment revenue is 10 percent or more of consolidated revenue.

SWFT Comprehensive Vol 2020

43rd Edition

ISBN:9780357391723

Author:Maloney

Publisher:Maloney

Chapter24: Multistate Corporate Taxation

Section: Chapter Questions

Problem 34P

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Becker is a multinational corporation that has both inter-segment sales and sales to unaffiliatedcustomers. Becker should report segment financial information for each segment meeting which of thefollowing criteria?A. Segment profit or loss is 10% or more of consolidated profit or loss.B. Segment profit or loss is 10% or more of combined profit or loss of all company segments.C. Segment revenue is 10% or more of combined revenue of all company segments.D. Segment revenue is 10% or more of consolidated revenue.
Bryant Inc. has five segments and is determining which segments need to be reported separately. One measure of determining reportable segments includes when the revenues of the segment exceed 10 percent of the Question 17 options: a) total revenues ($200,000) of all enterprise's operating segments. b) combined net income of all segments reporting profits (amounting to $95,900). c) total export and foreign sales (amounting to $75,000). d) total combined revenues (amounting to $150,000) for all segments reporting profits.
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TATUM Company, a publicly owned corporation, assess performance and makes operating decisions using the following information for its reportable segments: Total revenues P700,000 Total profit P50,000 Included in the total profit are intersegment profits of P5,000. In addition, TATUM has P1,000 of common costs for its reportable segments that are not allocated in reports used internally. For purposes of segment reporting, TATUM should report segment profit of a. P44,000 b. P51,000 c. P50,000 d. P70,000
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An entity has identified the following business segments: Segment 1 has revenue of 70,000, all external. Its profit is 10,000 and its assets 50,000. Segment 2 has revenue of 35,000, of which 30,000 relates to sales to other segments of the entity. Its profit is 1,000 and is assets 4,500. Segment 3 has revenue of 13,000, all external. Its profit is 1,000 and its assets 5,000. Segment 4 has revenue of 12,500, all external. Its profit is 500 and its assets 3,000. All of the segments have different economic characteristics. Which, as a minimum, of the segments are reportable under PFRS 8? CHOICES: 1, 2 and 3 only 1 and 2 only 1 only All of them
Tres Company has three lines of business, each of which was determined to be reportable segment. Sales aggregated P7,500,000 in the current year, of which Segment One contributed 40%. Traceable costs were P1,750,000 for Segment One out of a total of P5,000,000 for the entity as a whole. The entity allocates common costs of P1,500,000 based on the ratio of a segment's income before common costs to the total income before common costs. What amount should be reported as operating profit for Segment One?
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Bonita Corporation is a diversified company that operates in five different industries: A, B, C, D, and E. The following information relating to each segment is available for 2021. A B C D E Sales revenue $39,300 $74,500 $582,400 $35,000 $55,100 Cost of goods sold 19,300 50,600 267,500 18,800 29,900 Operating expenses 9,000 40,800 232,100 12,200 18,200 Total expenses 28,300 91,400 499,600 31,000 48,100 Operating profit (loss) $11,000 $(16,900) $82,800 $4,000 $7,000 Identifiable assets $35,700 $79,400 $502,100 $65,600 $49,100 Sales of segments B and C included intersegment sales of $20,200 and $99,600, respectively. Prepare the necessary disclosures required by GAAP. (Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).) A B C Other Totals External Revenues $ $ $…
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