fe 1 T eatipr on mare. of KAO cal ¥ vepte YT roe - cegwent pit nc =f. ‘st pot lel CPA REVIEW SCHOOL OF THE PHILIPPINES* 2°" =" punting | 7 4 Segment interna srk reenete Segments J , fre al Manila 4 plat sie fon ~ 381. se ntl revenue oF at a ig cement, FINANCIAL ACCOUNTING AND REPORTING VALIX/SIY/VALIX/ESCALA/SANTOS/DELA CRUZ An entity identified the following segments for the current year: sal 1 ees "Revenue Profit Assets 2 10,000,000v 1,750,000 20,000,000 A 8,000,000 » 1,400,000” 17,500,000 e 6,000,000 1,200,000 12,500,000 a 3,000,000 550,000 e 4,000,000" 575,000 F 2,000,000. ‘What are the reportable segments? 97%, a. Segments A, B and C ¢. Segments A,B, C,DandE d. Segments A, B,C, D, E and F 2. An entity reported the following segment profit or loss for the current year: Segment 1 7,000,000 profit ‘Segment 2 3,000,000 profit, Segment 3 4,000,000 loss v Segment 4 1,000,000 profit Segment 5 500,000. loss ‘fal oe ‘What are the reportable segments? ce ay a. Segments 1, 2, 3,4 and 5 of b. Segments land 2 1 °: d. Segments 1, 2,3 and 4 50,000,000, 3. An 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 for the current year. Expenses included payroll costs of P15,000,000. The combined assets of all segments totaled P45,000,000. A es M96 xfumah_ 7 wath aden Asoo 1. What is the minimum amount of sales to amajor customer? teqated a. ». 4,000,000 ¢, 4,500,000 ns]. ~ B d. 6,000,000 2. What is the minimum amount of external revenue to be disclosed by reportable segments? ‘a. 30,000,000 Overall sine fest ~ 357. OF foal extemal revenue, ». 45,000,000 ayant 5m pe eig mee ©. 33,751 pee 4 4. Ap entity and its divisions reported the following forthe current year: uagpted - offrnal unaffiliated customers 40,000,000 Intersegment sales of products similar to those sold to unaffiliated customers 12,000,000 Interest earned on loans to other operating s¢gments 1,000,000 The entity and all of its divisions are engaged solely in manufacturing operations. To qualify as reportable segment, the segment revenue should at least be what amount? a 5,300,000 t b. 4,100,000 ey e @ iv ieDo eot acdc ~ 9%} 5. Anentity operates.in the travel industry and incurs costs unevenly throughout the year. Advertising cost of P2,000,000 was incurred on March 1, 2020, and staff bonuses are paid at year-end based on sales. : ’ st Staff bonuses are expected to be around P20,000,000 for the year. Of that sum, P3,000,000 would ielate to the period ending March 31, 2020. ‘What total amount of expenses should be included in the quarterly financial report ending March 31, 2020? a. 7,000,000 b. 5,500,000 e d. 3,500,000 6. An entity reported P950,000 net income for the quarter ended September 30, 2020 which included the fo tax it , al