Presented below are four segments that have been identified by Haley Productions: Operating Segments Total Revenue Profit (Loss) Identifiable Assets A $510,000 $48,000 $1,100,000 B 140,000 35,000 550,000 C 210,000 (6,000) 350,000 D 80,000 (13,000) 210,000 E 60,000 10,000 160,000 For how many segments would information have to be disclosed in accordance with professional pronouncements? a. 4 b. 3 c. 2 d. 5
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Presented below are four segments that have been identified by Haley Productions:
Operating
Segments Total Revenue
A $510,000 $48,000 $1,100,000
B 140,000 35,000 550,000
C 210,000 (6,000) 350,000
D 80,000 (13,000) 210,000
E 60,000 10,000 160,000
For how many segments would information have to be disclosed in accordance with professional pronouncements?
a. 4
b. 3
c. 2
d. 5
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- 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?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 theInformation 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
- 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 4An 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 FPearl Inc. is involved in five separate industries. The following information is available for each of the five industry segments. Operating Segment Total Revenue Operating Profit (Loss) Identifiable Assets A $140,790 $24,910 $239,210 B 40,690 7,960 11,060 C 26,180 (4,960 ) 35,950 D 191,850 (2,000 ) 59,050 E 2,000 500 14,990 $401,510 $26,410 $360,260 Part 1 Determine which of the operating segments are reportable based on the revenue test.
- Illusory Company has the following information for its five business segments for the year 2016: Segment Segment Revenue Segment Profit (loss) Segment Asset A 1,200,000 200,000 1,000,000 B 1,000,000 (250,000) 1,000,000 C 20,000,000 2,000,000 15,000,000 D 5,000,000 500,000 5,000,000 E 2,800,000 (1,000,000) 3,000,000 1. Based on the operating profit test, how many segments are deemed reportable? 2 4 3 1 2. Based on asset taste, which of the following foregoing are reportable segment? A, B, C C, D, E A, B, C, D, E C, DHappy Company provided the following profit(loss) relating to operatingsegments: A- 2,000,000; B - (3,000,000); C- (500,000); D- 1,000,000.What is the minimum revenue of a reportable segment?QUESTION 1 Below are extracts from the financial statements of Mars Ltd. Statement of Profit / Loss and other comprehensive income for the year ended 31 March 2018 N$ 000 Sales 30 650 Cost of sales (26 000) Gross Profit 4 650 Distribution costs (900) Administration costs (500) Profit from operations 3 250 Investment income 680 Finance costs (400) Profit before tax 3 530 Income tax expense (300) Profit for the period 3 230 Statement of financial position as at 31 March 2018 2018 N$ 000 2017 N$ 000 Non-current assets 4 780 3 350 PPE 2 280 850 Investments 2 500 2 500 Current assets 3 310 3 310 Inventories 1 000 1 950 Trade and other receivables 1 900 1 200 Cash and cash equivalents 410 160 Total assets 8 090 6 650 Equity and liabilities…
- Vehicle Corporation is organized into four operating segments. The internal reporting system generated the following segment information:The company incurred additional operating expenses (of a general nature) of $1,200,000. Perform the profit or loss test to determine which of these segments is separately reportable.Some selected financial statement items belonging to MNO Company are given in the table below. According to this information, which of the following is Return on Assets (ROA)? Inventory 12,500Current Assets 50,000Current Liabilities 40,000Non-current Assets 90,000Net Profit 12,000Shareholders' Equity 65,000 Select one:a. 18.5%b. 12.2%c. 9.23%d. 13.3%Waterway Company is involved in four separate industries. The following information is available for each of the four industries Operating Segment w X Total Revenue $56,202 9,680 24,225 6,793 $96,900 Operating Profit (Loss) $16,000 2,480 (3,130) 1,150 $16,500 Identifiable Assets $172,434 86,217 20,811 17,838 $297,300 Y Z Determine which of the operating segments are reportable based on the: Reportable Segments (a) Revenue test. (b) Operating profit (loss) test. (c) Identifiable assets test.