Topic: Operating Segments Requirements: (Show Solutions)a. Identify the reportable segments under the quantitative thresholds of PFRS 8.b. Determine whether the reportable segments meet the limit on external revenues under PFRS 8.c. Determine the minimum amount of revenue that warrants disclosure of a major customer. 3. Information on an entity's operating segments is shownbelow:Operating ExternalsegmentsInternalTotalProfit(Loss)Identifiablerevenuerevenuerevenueassets1,200,000200,000 1,400,000 (300,000)100,000 1,000,000 (180,000)5,000,000B900,0001,300,000800,000250,000 1,050,000220,000900,000600,000160,000760,000270,0001,800,000(20,000)(30,000)E300,000300,000800,000F200,000200,0001,200,000999Totals 4,000,000710,000 4,710,000(40,000)11,000,000 Requirements:a. Identify the reportable segments under the quantitativethresholds of PFRS 8.b. Determine whether the reportable segments meet the limit onexternal revenues under PFRS 8.Determine the minimum amount of revenue that warrantsC.disclosure of a major customer.

Segment reporting is mandatory upon fulfilling the stipulated criteria as prescribed by the…

3. Information on an entity's operating segments is shown below: Operating External segments Internal Total Profit (Loss) 200,000 1,400,000 (300,000) 100,000 1,000,000 (180,000) Identifiable revenue revenue revenue assets 1,200,000 5,000,000 900,000 1,300,000 800,000 250,000 1,050,000 220,000 900,000 1,800,000 600,000 160,000 760,000 270,000 300,000 800,000 (20,000) (30,000) (40,000) 300,000 200,000 200,000 4,000,000 1,200,000 11,000,000 Totals 710,000 4,710,000 ABCDEE

3. Information on an entity's operating segments is shown below: Operating External segments Internal Total Profit (Loss) 200,000 1,400,000 (300,000) 100,000 1,000,000 (180,000) Identifiable revenue revenue revenue assets 1,200,000 5,000,000 900,000 1,300,000 800,000 250,000 1,050,000 220,000 900,000 1,800,000 600,000 160,000 760,000 270,000 300,000 800,000 (20,000) (30,000) (40,000) 300,000 200,000 200,000 4,000,000 1,200,000 11,000,000 Totals 710,000 4,710,000 ABCDEE

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter3: Analyzing And Recording Transactions

Section: Chapter Questions

Problem 12MC: Which of the following principles matches expenses with associated revenues in the period in which...

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