Unger has the following third party and intersegment revenue for its 10 operating segments Third party revenue $5,000,000 Intersegment revenue $1,000,000 Unger must disclose enough segments so that: a. The sum of the third party and intersegment revenues of the disclosed segments exceeds $4,500,000
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A: The answer is stated below:
Unger has the following third party and intersegment revenue for its 10 operating segments
Third party revenue $5,000,000
Intersegment revenue $1,000,000
Unger must disclose enough segments so that:
| a. |
The sum of the third party and intersegment revenues of the disclosed segments exceeds $4,500,000
|
|
| b. |
The sum of the third party revenues of the disclosed segments exceeds $3,750,000 |
|
| c. |
The sum of the third party revenues of the disclosed segments exceeds $4,500,000 |
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- An entity reported revenue of P50,000,000, excluding intersegment sales of P10,000,000, expenses of P47,000,000 and net income of P3,000,000 for the current year. Expenses included payroll costs of P15,000,000. The combined asset of all segment totaled P45,000,000 1. What is the minimum amount of sales to a major customer? a. 5,000,000 b. 4,000,000 c. 4,500,000 d. 6,000,000 2. What is the minimum amount of external revenue to be disclosed by reportable segments? a. 30,000,000 b. 45,000,000 c. 33,750,000 d. 37,500,0005. In the income statement for the current year, the entity which is subject to the requirements of segment report, reported external sales of P60,000,000, internal sales of P5,000,000, expenses of P45,000,000. The combined total assets of all operating segments at year-end amounted to P56,000,000. What is the lowest amount of external revenue that should be disclosed by reportable segments? A. 45,000,000 B. 15,000,000 C. 6,500,000 D. 3,750,000 E. None of themIn the income statement for the current year, the entity which is subject to the requirements of segment report, reported external sales of P60,000,000, internal sales of P5,000,000, expenses of P45,000,000. The combined total assets of all operating segments at year-end amounted to P56,000,000. What is the lowest amount of external revenue that should be disclosed by reportable segments?
- Word Corporation, a publicly owned corporation, is subject to the requirements for segment reporting. In its statement of comprehensive income for the year ending July 31, 2021, Word reported revenues of$50M, operating expenses of $47M and net income of $3M. Operating expenses included payroll costs of $15M. Word’s combined assets of all segments at July 31, 2020 were $40M. In its 2021 financial statements, Word should disclose major customer data if sales to any singlecustomer amount to at least _____________________.A. $ 300,000B. $1,500,000C. $4,000,000D. $5,000,000A public owned entity assesses performance and makes operating decisions using the reportable segments total revenue of P7,700,000 and total profit and loss of P500,000. The total profit and loss including inter-segment profit of P50,000. In addition, the entity has P10,000 of common costs for the reportable segments that are not allocated in reports reviewed by the chief operating decision maker. For purposes of segment reporting, what amount should be reported as segment profit of the reportable segments? a. 460,000 b. 450,000 c. 510,000 d. 500,000TATUM 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
- 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?ABC Corporation, a retailer, has a gross sales of P1.4B with a cost of sales of P560M and allowable deductions of P150M for the calendar year 2021. Its total assets of P180M as of December 31, 2021 per Audited Financial Statements includes the land costing P50M and the building of P25M in which the business entity is situated, with an aggregate amount of P75M as fixed assets. Assuming CY 2021 is the 5th year of operation of ABC Corporation, compute the Income Tax Due.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.
- Yes Corp., a publicly-owned corporation, is subject to the requirements for segment reporting. In its income statement for the year ended December 31, 2020, Yes reported consolidated revenues of P50,000,000, operating expenses of P47,000,000, and net income of P3,000,000. Operating expenses include payroll costs of P15,000,000. Yes's combined identifiable assets of all industry segments at December 31, 2020, were P40,000,000. In its 2020 financial statements, Yes should disclose major customer data if sales to any single customer amount to at least: a.P300,000 b.P1,500,000 c.P4,000,000 d.P5,000,000Yes Corp., a publicly-owned corporation, is subject to the requirements for segment reporting. In its income statement for the year ended December 31, 2020, Yes reported consolidated revenues of P50,000,000, operating expenses of P47,000,000, and net income of P3,000,000. Operating expenses include payroll costs of P15,000,000. Yes's combined identifiable assets of all industry segments at December 31, 2020, were P40,000,000. In its 2020 financial statements, Yes should disclose major customer data if SALES to any single customer amount to at least: a. P300,000 b. P1,500,000 c. P4,000,000 d. P5,000,00010. Taylor Company, a publicly owned entity, assesses performance and makes operating decisions using the following information for its reportable segments: Total revenue, P7,680,000; Total profit and loss, P406,000. The total profit and loss included intersegment profit of P61,000. In addition, Taylor has P5,000 of common costs for its reportable segments that are not allocated in reports reviewed by the chief operating decision maker. What amount should Taylor report as segment profit? a. 350,000 b. 345,000 c. 411,000 d. 406,000