West Corporation reported the following consolidated data for 20x2 Sales $ 1,165,000 Consolidated income before taxes...

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West Corporation reported the following consolidated data for 20x2 Sales $ 1,165,000 Consolidated income before taxes Total assets 136,000 1,280,000 Data reported for West's four operating divisions are as follows: Sales to outsiders Intersegment sales Traceable costs Assets Division A $440,000 Division B $ 166,000 Division C Division D $ 490,000 $ 69,000 58,000 253,000 471,000 18,000 19,000 98,000 113,000 298,000 90,000 508,000 83,000 Intersegment sales are priced at cost, and all goods have been subsequently sold to nonaffillates. Some joint production costs are allocated to the divisions based on total sales. These joint costs were $63,000 in 20X2. The company's corporate center had $28,000 of general corporate expenses and $128,000 of assets that the chief operating decision maker did not use in making the decision regarding the operating segments. Required: Each of the following items is unrelated to the others. a. The divisions are Industry segments. 1. Prepare a segmental disclosure worksheet for the company. 2. Prepare schedules showing which segments are reportable. b. Assume that each division operates in an Individual geographic area, Division A is in the domestic area, and each of the other divisions operates in a separate foreign country. Assume that one-half of the assets in each geographic area represents long-lived, productive assets as defined in ASC 280. Prepare schedules showing which geographic areas are reportable using a 10 percent materiality threshold. c. Determine the amount of sales to an outside customer that would cause that customer to be classified as a major customer under the criteria of ASC 280. Complete this question by entering your answers in the tabs below. Req A1 Req A2 Req B Req C a. The divisions are industry segments. 1. Prepare a segmental disclosure worksheet for the company. Note: Do not round your intermediate calculations. West Corporation reported the following consolidated data for 20x2 Sales $ 1,165,000 Consolidated income before taxes Total assets 136,000 1,280,000 Data reported for West's four operating divisions are as follows: Sales to outsiders Intersegment sales Traceable costs Assets Division A $440,000 Division B $ 166,000 Division C Division D $ 490,000 $ 69,000 58,000 253,000 471,000 18,000 19,000 98,000 113,000 298,000 90,000 508,000 83,000 Intersegment sales are priced at cost, and all goods have been subsequently sold to nonaffillates. Some joint production costs are allocated to the divisions based on total sales. These joint costs were $63,000 in 20X2. The company's corporate center had $28,000 of general corporate expenses and $128,000 of assets that the chief operating decision maker did not use in making the decision regarding the operating segments. Required: Each of the following items is unrelated to the others. a. The divisions are Industry segments. 1. Prepare a segmental disclosure worksheet for the company. 2. Prepare schedules showing which segments are reportable. b. Assume that each division operates in an Individual geographic area, Division A is in the domestic area, and each of the other divisions operates in a separate foreign country. Assume that one-half of the assets in each geographic area represents long-lived, productive assets as defined in ASC 280. Prepare schedules showing which geographic areas are reportable using a 10 percent materiality threshold. c. Determine the amount of sales to an outside customer that would cause that customer to be classified as a major customer under the criteria of ASC 280. Complete this question by entering your answers in the tabs below. Req A1 Req A2 Req B Req C a. The divisions are industry segments. 1. Prepare a segmental disclosure worksheet for the company. Note: Do not round your intermediate calculations.

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Answer To prepare a segmental worksheet for the company we need to ... View the full answer