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[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): Segments White $ 120 Red Blue Green Pink Black $ 833 $ 535 $ 330 $ 142 Sales to outside parties Intersegment revenues Salary expense Rent expense Interest expense Income tax expense (savings) $1,832 37 112 130 37 323 635 400 423 333 338 83 160 86 162 187 102 113 63 52 80 103 70 35 26 108 82 (107) (85) Consider the following questions independently. None of the six segments has a primarily financial nature. 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.) 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 . Now assume each of the six segments has a profit or loss (in thousands) as follows. Based on these figures, which warrants separate disclosure? (Select all that apply.) Red $1,095 Blue 470 Green 161 Pink (115) Black (243) White 329 [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): Segments White $ 120 Red Blue Green Pink Black $ 833 $ 535 $ 330 $ 142 Sales to outside parties Intersegment revenues Salary expense Rent expense Interest expense Income tax expense (savings) $1,832 37 112 130 37 323 635 400 423 333 338 83 160 86 162 187 102 113 63 52 80 103 70 35 26 108 82 (107) (85) Consider the following questions independently. None of the six segments has a primarily financial nature. 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.) 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 . Now assume each of the six segments has a profit or loss (in thousands) as follows. Based on these figures, which warrants separate disclosure? (Select all that apply.) Red $1,095 Blue 470 Green 161 Pink (115) Black (243) White 329
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1 Total sales to outsiders of the total company 1832 833 535 330 142 120 3792 Total Intersegment sal... View the full answer
Related Book For
Fundamental Managerial Accounting Concepts
ISBN: 978-0078025655
7th edition
Authors: Thomas Edmonds, Christopher Edmonds, Bor-Yi Tsay, Philip Old
Posted Date:
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