ADVANCED FIN.ACCT.(LL)-W/ACCESS>CUSTOM<
11th Edition
ISBN: 9781260034509
Author: Christensen
Publisher: MCGRAW-HILL HIGHER EDUCATION
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Chapter 13, Problem 13.2.10E
To determine
Introduction: 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.
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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.P5,000,000
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. P5,000,000
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
Chapter 13 Solutions
ADVANCED FIN.ACCT.(LL)-W/ACCESS>CUSTOM<
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