Question: please answer 1 and 2 Problem 10-6 (AICPA Adapted) Grum Company is subject to the requirements of segment reporting. In the income statement for the
Problem 10-6 (AICPA Adapted) Grum Company is subject to the requirements of segment reporting. In the income statement for the current year, the entity reported revenue of P50,000,000 excluding intersegment sales of P10,000,000, expenses of P47,000,000 and net income of P3,000,000. Expenses included payroll costs of P15,000,000. The combined total assets of all operating segments at year-end amounted to P45,000,000. 1. What is the minimum amount of sales to a major customer? a. 5,000,000 b. 4,000,000 c. 6,000,000 d. 4,500,000 2. What is the minimum amount of external revenue to be disclosed by reportable segments? a. 22,500,000 b. 30,000,000 c. 33,750,000 d. 37,500,000 282
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