Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

PLEASE ANSWER WITH SOLUTIONS. WILL IMMEDIATELY THUMBS UP IF ANSWERED ALL WITH ACCURACY THANKSIES Reportable Segment - Revenue Test 1) Mia Company provided the following

image text in transcribed

image text in transcribed

PLEASE ANSWER WITH SOLUTIONS. WILL IMMEDIATELY THUMBS UP IF ANSWERED ALL WITH ACCURACY THANKSIES Reportable Segment - Revenue Test 1) Mia Company provided the following information related to operating segments: Segment Sales to customers Intersegment sales Total revenue One 5,000,000 3,000,000 8,000,000 TWO 8,000,000 4,000,000 12,000,000 Three 4,000,000 4,000,000 Four 43.000.000 16.000.000 59.000.000 Combined 60,000,000 23,000,000 83,000,000 Elimination (23,000,000 (23,000,000) Consolidated 60.000.000 60.000.000 What is the total revenue that should be disclosed for the reportable segments? A. 71,000,000 B. 51,000,000 C. 79,000,000 D. 56,000,000 Reportable Segment - Operating Profit or Loss Test 2) Starboy Corporation and its divisions are engaged solely in manufacturing. The following data pertain to the industries in which operations were conducted for the current year Operating profit or loss Segment A 10,000,000 Profit Segment B 2,000,000 Profit Segment 11,000,000 LOSS Segment D 3,000,000 Profit Segment E 12,000,000 Loss In its segment information for the current year, which is (are) not a reportable segment(s)? A. Segment A, BD B. Segments BD C. Segment B D. None of them Reportable Segment - Asset Test 3) Dart Company and its divisions are engaged solely in manufacturing operations. The following data pertains to the industries in which operations were conducted for the year ended December 31, 2017 Segments Total revenue Operating profit Identifiable assets 13,000,000 4,000,000 25,000,000 9,000,000 2,000,000 20,000,000 7,700,000 1,500,000 15,000,000 3,000,000 1,000,000 7,000,000 3,800,000 800,000 8,000,000 3.500 000 700.000 5.000.000 40.000.000 10,000,000 80,000,000 In its segment information for 2017, how many reportable operating segments does Dart have? A Three B. Four C. Five D. Six TimO00

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Auditing An Assertions Approach

Authors: G. William Glezen, Donald H. Taylor

7th Edition

047113421X, 978-0471134213

More Books

Students also viewed these Accounting questions