Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Required information [The following information applies to the questions displayed below.) Following is financial information describing the six operating segments that make up Fairfield, Inc.
Required information [The following information applies to the questions displayed below.) Following is financial information describing the six operating segments that make up Fairfield, Inc. (in thousands): Blue $ 834 $- 113 131 Red $1,833 38 636 161 87 163 Sales to outside parties Intersegment revenues Salary expense Rent expense Interest expense Income tax expense (savings) Segments Green Pink $ 536 $ 331 0 424 334 103 104 (108) White $ 121 324 84 Black $ 143 38 339 64 36 (86) 114 401 188 81 109 53 71 83 Consider the following questions independently. None of the six segments has a primarily financial nature. a. What minimum revenue amount must any one segment generate to be of significant size to require disaggregated disclosure? (Enter your answer in dollars but not in thousands.) Minimum revenues C. What volume of revenues must a single customer generate to necessitate disclosing the existence of a major customer? (Enter your answer in dollars but not in thousands.) Volume of revenues
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started