Question: The following information has been accumulated for use in preparing segment disclosures for Wod Corporation (in thousands): REQUIRED1. Determine Wod's reportable segments under the 10

The following information has been accumulated for use in preparing segment disclosures for Wod Corporation (in thousands):

Sales to Unaffiliated Sales to Affiliated Total Sales Customers Customers Apparel Construction

REQUIRED1. Determine Wod's reportable segments under the 10 percent revenue test.2. Are additional reportable segments required under the 75 percent revenue test?3. Prepare a schedule to disclose revenue by operating segment for external reporting. Assume that the paper and tobacco segments, both sold in grocery stores, share similar operating characteristics on four of the five aggregation criteria.

Sales to Unaffiliated Sales to Affiliated Total Sales Customers Customers Apparel Construction $ 164 $164 112 112 214 Furniture Lumber and wood products Paper Textiles Tobacco Total 208 $ 6 90 175 90 265 90 50 170 220 93 93 $1,158 $892 $266

Step by Step Solution

3.40 Rating (162 Votes )

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock

1 Reportable segments under the 10 revenue test Test value is 10 of 1158000 total sales or 115800 Re... View full answer

blur-text-image
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)

Word file Icon

55-B-A-F-R (45).docx

120 KBs Word File

Students Have Also Explored These Related Accounting Questions!