Happy Company provided the following profit(loss) relating to operating segments: A- 2,000,000; B - (3,000,000); C- (500,000); D- 1,000,000. What is the minimum revenue of a reportable segment? * Your answer
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- An entity reported the following segment profit or loss for the current year Segment 1 7,000,000 profit Segment 2 3,000,000 profit Segment 3 4,000,000 loss Segment 4 1,000,000 profit Segment 5 500,000 loss What are the reportable segments? a. SEGMENT 1,2,3,4 and 5 b. SEGMENT 1 and 2 c. SEGMENT 1,2 and 3 d. SEGMENT 1,2,3 and 4Company XYZ, Inc. reported a total sales revenue of P15,000,000 of which 20% pertains to the cost of goods sold. In addition, operating expenses in the most reporting period were P240,000 in salaries, P750,000 in rent, P300,000 in utilities and P150,000 in depreciation. Interest expense for the period amounted to P2,500,000. Tax rate is 30%. Determine the interest coverage ratio using EBIT.The following provides information on the segments that have been identified by Bernard Productions: Total Revenue Operating Segments (Unaffiliated) Profit (Loss) Identifiable Assets A $429,000 $34,000 $800,000 B 355,800 (36,000) 650,000 C 95,400 2,000 108,000 D 90,000 3,000 75,000 Which of the segments listed above would information have to be disclosed in accordance with GAAP?
- Information relating to the operating segments of Fast Company for the year 2021, is presented below: Operating Profit (Loss) Segment 1--------- (18,000,000) Segment 2--------- 16,000,000 Segment 3--------- 9,000,000 Segment 4--------- (2,000,000)To be reportable segment, the segment's profit(loss) must be at least what amount?B Incorporated provided the following data with respect to their segments: Segment Revenues Profit/Loss Identifiable Assets A 40 million 3 million 80 million B 20 million 4 million 70 million C 15 million (5 million) 60 million D 50 million (1 million) 100 million E 5 million (300,000) 30 million F 8 million (1.3 million) 20 million Total 138 million (600,000) 360 million Using the profit/loss test, what is the minimum amount of profit/loss for a segment to be considered as reportable: a. 700,000 b. 60,000 c. 600,000 d. 820,000 e. Answer not among thePrecision System had sales of $820,000, cost of goods of $510,000, selling and administrative expense of $60,000, and operating profit of $103,000. What was the value of depreciation expense? Set up this problem as a partial income statement and determine depreciation expense as the “plug” figure required to obtain the operating profit.
- The following information is provided about PT Caltex: - Revenue from operations IDR 430,000,000 - Loss on the decrease in inventory Rp.12,000,000 - Sales Expense IDR 62,000,000 - Interest expense of IDR 20,000,000 - The tax rate is 30% Then the profit of PT Caltex is.... a. IDR 287,000,000 b. IDR 410,000,000 c. IDR 430,000,000 d. IDR 250,000,000 Do not give answer in imageIn Baer Food Co.’s year 1 single step income statement, the section titled “Revenue” consist of the following: Net sales Revenue $187,000 Results from discontinued operations: loss from discontinued component Z including loss on disposal of $1,200 $16,400 less tax benefit 4,000 (12,400) Interest income 10,200 gain on sale of equipment 4,700 extra ordinary gain 1,500 Total revenue 191,000 In…Provide the accounting for the following: Operating Revenues: $10,000,000 Nonrecurring, non-operating gain: $4,000,000 Nonrecurring, non-operating loss: $8,000,000 Operating expenses: A. EBITDA no income B. GAAP no income C. EBITDA is $4,000,000 D. None
- 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. P70,000Net sales of Thomas Company is $180,600, cost of goods sold is $144,400, selling expenses are $15,200, general expenses are $22,600, and interest expense is $1,500. Which of the following is the net income (loss) of Thomas Company? a.$3,100 b.$36,200 c.$(3,100) d.$13,600 e.$(1,600)Information relating to the operating segments of Purple Company for the year 2021, is presented below: Operating Profit (Loss): Segment 1 - (P18,000,000)Operating Profit (Loss): Segment 2 - P16,000,000Operating Profit (Loss): Segment 3 - P9,000,000Operating Profit (Loss): Segment 4 - (P2,000,000)The reportable segments are Choices: 1,2,3,4 1,2,3 2 and 3 1 and 4