Question: The following data for 2011 relate to Hay Industries, a worldwide conglomerate: REQUIRED: Answer the following questions related to Hay's required segment disclosures and show

The following data for 2011 relate to Hay Industries, a worldwide conglomerate:

REQUIRED: Answer the following questions related to Hay's required segment disclosures and show computations:1. Which segments are reportable segments under(a) The revenue test,(b) The operating-profit test, and(c) The asset test?2. Do additional reportable segments have to be identified ?

Sales to Unaffiliated Intersegment Sales Operating Profit (Loss) Assets Customers $45,000 $300,000 110,000 $ 50,000 $310,000 Food Chemical (8,000) 9,000 18,000 Textiles 60,000 40,000 5,000 48,000 62,000 Furniture Beverage Oil Segment 10,000 60,000 (2,000) 85,000 (7,000) $78,000 25.000 645,000 600,000 105,000 Corporate Consolidated $660,000 $600,000

Step by Step Solution

★★★★★

3.27 Rating (176 Votes )

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock

1 Reportable segments Revenue test 600000 105000 10 70500 Rep... View full answer

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Document Format (1 attachment)

55-B-A-F-R (46).docx

120 KBs Word File

Students Have Also Explored These Related Accounting Questions!

Paul and Wayne equally own the PW Partnership. Paul's basis was $30,000 and Wayne's basis was $22,000 at the beginning of the year. PW Partnership had the following income and expense items:...

The following data for 2016 relate to Hay Industries, a worldwide conglomerate: REQUIRED: Answer the following questions related to Hay's required segment disclosures and show computations: 1. Which...

THE FOLLOWING INFORMATION IS USED FOR QUESTIONS 17 19. Test Company uses a standard costing system. The company developed the following standard cost sheet for one of its products. Direct materials...

The Cakebread Candy Company presents the following data for October: During the month, the firm purchased 49,000 pounds of materials for $127,500. Wages earned were $214,000. Compute the labor and...

Presentation and Disclosure in Financial Reporting The following data for 2020 relate to Hay Industries, a worldwide conglomerate Sales to unafted Intersement customers Operating profit Identifable...

Assignment 3 The following data for 2020 relate to Hay Industries, a worldwide conglomerate Sales to intersegment Operatingidentifiab unaffiliated sales profit joss assets customers Food $ 300,000...

The following data for 2020 relate to Hay Industries, a worldwide conglomerate. Sales to unaffiliated customers Intersegment sales Operating profit (loss) Identifiable assets Food $ 300,000 $ 50,000...

The following data for 2020 relate to Hay Industries, a worldwide conglomerate. Sales to Intersegment Operating Identifiable unaffiliated sales profit assets customers (loss) Food $ 300,000 $ 50,000...

Compute the IRR Suppose rA 17%, r = 5% and t=0.4. Is this a good investment? [Hint: find appropriate rate of return on equity]

What is the link between brand names and competitive advantage?

Let f be a function defined on [ 0 , ) . Then the function F defined by F ( s ) = e stf ( t ) dt 0 is said to be the Laplace transform of f . The domain of F ( s ) is the set of values of s for which...

Ms. Kyle Mark is employed by BMW Ltd.,a public corporation as a Sales Manager. She is married. Her husband, Neil Mark,66, is unemployed for the year since the family moved from Regina to Calgary. She...

Consider an n-channel silicon JFET with the following parameter: Na 3x108/cm, Na = 8x106/cm, and a = 0.5 m. (a is width of channel with neglecting the depletion region, assume T 300K and the...

1. Briefly analyze ONE of the three cases in the reading. (e.g., Hotel Capri should report its revenue as gross revenue based on the several indicators in the reading...) 2. Try to find other...

Maple Leaf Production manufactures truck tires. The following information is available for the last operating period. Maple Leaf produced and sold 91,000 tires for $44 each. Budgeted production was...

you have been selected by your company to manage the risk issues relevant to your company briefly evaluate the various steps that you will need to consider when establishing a legal risk management...

What role do demographics and psychographics play in audience analysis during the planning of a persuasive message? [LO-1]

What have the FASB and IASB agreed to do in the Norwalk Agreement?

How are IFRS currently used in the United States and how might they be used in the future based upon the SECs IFRS Roadmap?

Multiple Choice Question 1. Which of the following could explain why accounting is more conservative in some countries than in others? a. Accounting is oriented toward stockholders as a major source...

Neal Enterprises has no debt. Its current total value is $77.2 million. Assume debt proceeds are used to repurchase equity. Requirement 1: Ignoring taxes, what will the companys value be if it sells...

c. At the 10% significance level, what is your conclusion about the overall significance of the model? I (Click to select) | Ho because the p-value is (Click to select) | than the significance level....

You are the CFO of a company called hamburger. Unfortunately, the firms headquarters (where all the records are kept) have recently been destroyed by fire. So, your task is to recreate the cash flow...