Determine whether the reportable segments meet the limit

Assignment Help Accounting Basics
Reference no: EM133118322

Question - Information on an entity's operating segments is shown below:

Operating Segments

External Revenue

Internal Revenue

Total Revenue

Profit (Loss)

Identifiable Assets

A

1,200,000

200,000

1,400,000

(300,000)

5,000,000

B

900,000

120,000

1,000,000

(180,000)

1,300,000

C

800,000

250,000

1,050,000

220,000

900,000

D

600,000

160,000

760,00

270,000

1,800,000

E

300,000

-

300,000

(20,000)

800,000

F

200,000

-

200,000

(30,000)

1,200,000

Totals

4,000,000

710,000

4,710,000

(40,000)

11,000,000

Required -

1. Identify the reportable segments under the quantitative thresholds of PFRS 8.

2. Determine whether the reportable segments meet the limit on external revenues under PFRS 8.

3. Determine the minimum amount of revenue that warrants disclosure of a major customer.

Reference no: EM133118322

Questions Cloud

How much goodwill would recognized in financial statements : Spaghetti's net assets was P114,000,000 and their carrying amount was P120.000,000. How much goodwill would recognized in financial statements
Case study - brand development by identifying brand values : Case Study - Brand Development by Identifying Brand Values and What is the objective of advertising a brand - Explain the benefits and value an umbrella brand
Spot exceptional or substandard service : It is often easy to spot exceptional or substandard service, but we sometimes overlook solid, positive service delivery. T
How many units of each type of bikes should be stocked : Robinson owner pays P800.00 and P1,400.00 for each one unit of Type 1 bike and Type 2 bike respectively. How many units of each type of bikes should be stocked
Determine whether the reportable segments meet the limit : Information on an entity's operating segments is shown below: Determine whether the reportable segments meet the limit
What is the effective price : What is the effective price (after taking account of hedging) received by the company for the commodity?
Liability play in affecting how government agencies : What role does liability play in affecting how government agencies, healthcare providers, and individuals behave during public health emergencies?
What is the correct arbitrage strategy : The index is standing at 1,000, and the futures price for a contract deliverable in six months is $1040. What is the correct arbitrage strategy?
Correlation between the futures price and commodity price : The correlation between the futures price and the commodity price is 0.95. What hedge ratio should be used when hedging a one month exposure to the price

Reviews

Write a Review

Accounting Basics Questions & Answers

  Calculate the following ratios for the most recent two years

Calculate the following ratios for the most recent two years and comment on the results of your ratio analysis

  Discuss the nature of this lease in relation to the lessor

Discuss the nature of this lease in relation to the lessor and compute the amount of each of thefollowing items. Prepare a 10-year lease amortization schedule

  What was the average cost of a phone call in january

A hotel pays the phone company $200per month plus $.15 for each call made. During January 7,000 callswere made. In February 8,000 calls were made.

  Difference between bookkeeping and accounting

What is the accounting equation? Why is this important to the practice of accounting? Please provide an example of how the accounting equation works.

  Solve deprecation using diminishing value with depreciation

Solve the deprecation using diminishing value with the depreciation table. The company bought the land for 9 million four years ago

  Prepare cost of production report for Cutting Department

Prepare a cost of production report for the Cutting Department of Dalton Carpet Company for January

  Record the bond issue and first interest payment on June

Pretzelmania, Inc., issues 7%, 15-year bonds with a face amount of $70,000 for $63,948 on January 1, 2021. Record the bond issue and first interest payment

  Discuss the corporations stock is distributed equally

The corporation's stock is distributed equally to kevin and Nicole

  What business risks does dell face that threaten its

what business risks does dell face that threaten its ability to satisfy stockholder expectations? what are some

  What is ending inventory under the average cost method

Assuming that a perpetual inventory system is used, what is ending inventory (rounded) under the average cost method for July

  Show the note disclosure

On January 21, 2021, the company issued 75,000 shares of its common stock for RM55 per share, Show the note disclosure

  During 2002 enron corporation hid large liabilitiesfrom its

during 2002 enron corporation hid large liabilitiesfrom its balance sheet. worldcom admitted to recording expenses

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd