Advanced Accounting 14th Edition
14th Edition
ISBN: 9781260726442
Author: By Joe Ben Hoyle And Thomas Schaefer And Timothy Doupnik
Publisher: Mc Grawhill Education
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Chapter 8, Problem 24P
To determine
Identify the number of reportable segments does company H have in its segment information for the current year.
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ASENSO Company and its divisions are engaged solely in manufacturing. The following data pertain to the industries in which operations were conducted for the current year:
Segment
Intersegment Sales
External Revenue
A
1,000,000
5,000,000
B
1,500,000
3,000,000
C
4,000,000
8,000,000
D
2,000,000
2,800,000
E
200,000
900,000
What is the minimum amount of revenue to be considered a major customer?
1,970,000
2,100,000
2,840,000
920,000
ASENSO Company and its divisions are engaged solely in manufacturing. The following data pertain to the industries in which operations were conducted for the current year:
Segment
Intersegment sales
External revenue
A
1,000,000
5,000,000
B
1,500,000
3,000,000
C
4,000,000
8,000,000
E
2,000,000
2,800,000
F
200,000
900,000
What is the minimum amount of revenue to be considered a major customer?
A.
1,970,000
B.
2,100,000
C.
2,840,000
D.
920,000
Bonita Industries and its divisions are engaged solely in manufacturing operations. The following data pertain to the segments in which
operations were conducted for the year ended December 31, 2021.
Industry
A
B
с
D
E
F
Revenue
Four
O Three
O Six
O Five
$ 8130000
6620000
4950000
2470000
3530000
1250000
Profit
$1319000
1120000
962000
440000
532000
184000
Assets
12/31/21
$15980000
13940000
10110000
5290000
5530000
2400000
$26950000 $4557000 $53250000
In its segment information for 2021, how many reportable segments does Bonita have?
Chapter 8 Solutions
Advanced Accounting 14th Edition
Ch. 8 - Prob. 1QCh. 8 - Prob. 2QCh. 8 - Prob. 3QCh. 8 - The management approach requires a firm to define...Ch. 8 - What is an operating segment?Ch. 8 - Prob. 6QCh. 8 - Prob. 7QCh. 8 - Prob. 8QCh. 8 - Prob. 9QCh. 8 - Prob. 10Q
Ch. 8 - Prob. 11QCh. 8 - To satisfy geographic area disclosure...Ch. 8 - Prob. 13QCh. 8 - Prob. 14QCh. 8 - Prob. 15QCh. 8 - Prob. 16QCh. 8 - Prob. 17QCh. 8 - How does a company determine the amount of income...Ch. 8 - Prob. 19QCh. 8 - Prob. 20QCh. 8 - What type of segment information must companies...Ch. 8 - How would an annual bonus paid at year-end be...Ch. 8 - Which of the following does U.S. GAAP not consider...Ch. 8 - Prob. 2PCh. 8 - Prob. 3PCh. 8 - Prob. 4PCh. 8 - Prob. 5PCh. 8 - Which of the following is not necessarily true for...Ch. 8 - Prob. 7PCh. 8 - Prob. 8PCh. 8 - Prob. 9PCh. 8 - Which of the following items is required to be...Ch. 8 - Prob. 11PCh. 8 - Prob. 12PCh. 8 - Which of the following information items with...Ch. 8 - Prob. 14PCh. 8 - In considering interim financial reporting, how...Ch. 8 - How should material seasonal variations in revenue...Ch. 8 - Prob. 17PCh. 8 - Prob. 18PCh. 8 - Prob. 19PCh. 8 - Niceville Company pays property taxes of 100,000...Ch. 8 - Prob. 21PCh. 8 - Prob. 22PCh. 8 - Prob. 23PCh. 8 - Prob. 24PCh. 8 - Prob. 25PCh. 8 - Prob. 26PCh. 8 - Prob. 27PCh. 8 - Prob. 28PCh. 8 - Prob. 29PCh. 8 - Prob. 30PCh. 8 - Prob. 31PCh. 8 - Prob. 32PCh. 8 - Prob. 33PCh. 8 - Prob. 34PCh. 8 - Prob. 35PCh. 8 - Prob. 36PCh. 8 - Prob. 37PCh. 8 - Prob. 38PCh. 8 - Noventis Corporation prepared the following...
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- Company A and its divisions are engaged solely in manufacturing operations. The following data pertain to the industries in which operations were conducted for the year ended December 31, 2019. Industry Revenue Profit Assets Red 8,000,000 (1,320,000) 16,000,000 Orange 6,400,000 920,000 14,000,000 460,000 10,000,000 Yellow 4,800,000 2,200,000 (420,000) 5,300,000 Green (240,000) 5,600,000 Blue 3,400,000 180,000 2,400,000 Purple 1,200,000 Calculate the materiality threshold that would be used under the profit or loss test to determine which segments are reportable.arrow_forwardAn entity and its divisions reported the following for the current year: Sales to unaffiliated customers 40,000,000 Intersegment sales of product similar to those sold to unaffiliated customers 12,000,000 Interest earned on loans to other operating segments 1,000,000 The entity and all of its divisions are engaged solely in manufacturing operations. To qualify as reportable segment, the segment revenue should at least be what amount? A. 5,300,000 B. 4,100,000 C. 5,200,000 D. 4,000,000arrow_forwardThe following data were summarized from the accounting records for Jersey Coast Construction Company for the year ended June 30, 20Y8: Cost of goods sold: Service department charges: Commercial Division $422,110 Commercial Division $57,560 Residential Division 218,470 Residential Division 37,840 Administrative expenses: Net sales: Commercial Division $76,750 Commercial Division $639,560 Residential Division 78,030 Residential Division 390,130 Prepare divisional income statements for Jersey Coast Construction Company. Jersey Coast Construction CompanyDivisional Income StatementsFor the Year Ended June 30, 20Y8 Commercial Division Residential Division $Net sales $Net sales Cost of goods sold Cost of goods sold $Gross profit $Gross profit Administrative expenses Administrative expenses $Income from operations before service department charges $Income from operations before service department charges…arrow_forward
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