Advanced Financial Accounting
12th Edition
ISBN: 9781259916977
Author: Christensen, Theodore E., COTTRELL, David M., Budd, Cassy
Publisher: Mcgraw-hill Education,
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Chapter 13, Problem 13.2.1E
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 ASC 280. In this, company have to report various segments income, expenses, assets, liabilities, etc.
To choose: The correct option
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Barb Corporation discloses supplementary operating segment information for its two reportablesegments. Data for 2020 are available as follows:Segment EF Segment WXSales $750,000 $250,000Traceable operating expenses 325,000 130,000Additional 2020 expenses related to Indirect Operating Expenses of $120,000.Appropriately selected common indirect operating expenses are allocated to segments based on theratio of each segment’s sales to total sales. The 2020 operating profit for Segment EF was ______________.A. $260,000B. $335,000C. $395,000D. $425,000
10. 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
5. 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 them
Chapter 13 Solutions
Advanced Financial Accounting
Ch. 13 - Prob. 13.1QCh. 13 - Prob. 13.2QCh. 13 - What are the three 10 percent significance tests...Ch. 13 - Prob. 13.4QCh. 13 - A company has 10 industry segments, of which the...Ch. 13 - Prob. 13.6QCh. 13 - Prob. 13.7QCh. 13 - Prob. 13.8QCh. 13 - Prob. 13.9QCh. 13 - Prob. 13.10Q
Ch. 13 - Prob. 13.11QCh. 13 - Prob. 13.12QCh. 13 - Prob. 13.13QCh. 13 - Prob. 13.14QCh. 13 - Maness Company made a change in accounting for its...Ch. 13 - Prob. 13.1CCh. 13 - Prob. 13.2CCh. 13 - Prob. 13.3CCh. 13 - Prob. 13.7CCh. 13 - Prob. 13.8CCh. 13 - Prob. 13.9CCh. 13 - Reportable Segments Data for the seven operating...Ch. 13 - Prob. 13.2.1ECh. 13 - Prob. 13.2.2ECh. 13 - Prob. 13.2.3ECh. 13 - Prob. 13.2.4ECh. 13 - Prob. 13.2.5ECh. 13 - Prob. 13.2.6ECh. 13 - Prob. 13.2.7ECh. 13 - Prob. 13.2.8ECh. 13 - Prob. 13.2.9ECh. 13 - Prob. 13.2.10ECh. 13 - Prob. 13.2.11ECh. 13 - Prob. 13.3.1ECh. 13 - Prob. 13.3.2ECh. 13 - Multiple-Choice Questions on Interim Reporting...Ch. 13 - Prob. 13.3.4ECh. 13 - Prob. 13.3.5ECh. 13 - Prob. 13.3.6ECh. 13 - Prob. 13.3.7ECh. 13 - Prob. 13.3.8ECh. 13 - Prob. 13.3.9ECh. 13 - Prob. 13.3.10ECh. 13 - LIFO Liquidation During July, Laesch Company,...Ch. 13 - Inventory Write-Down and Recovery Cub Company, a...Ch. 13 - MutiniedChoice Questions on Income Taxes at...Ch. 13 - Prob. 13.6.2ECh. 13 - Prob. 13.6.3ECh. 13 - MutiniedChoice Questions on Income Taxes at...Ch. 13 - Prob. 13.6.5ECh. 13 - Prob. 13.6.6ECh. 13 - Prob. 13.7ECh. 13 - Prob. 13.8ECh. 13 - Prob. 13.9ECh. 13 - Prob. 13.10ECh. 13 - Prob. 13.11ECh. 13 - Prob. 13.12ECh. 13 - Prob. 13.13PCh. 13 - Prob. 13.14PCh. 13 - Interim Income Statement Chris Inc. has...Ch. 13 - Prob. 13.17PCh. 13 - Prob. 13.20PCh. 13 - Matching Terms Match the items in the left-hand...
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