26. Chambers Company has seven operating segments but only four (One, Two, Three, and Four)...

80.2K

Verified Solution

Question

Accounting

image

26. Chambers Company has seven operating segments but only four (One, Two, Three, and Four) are of significant size to warrant separate disclosure. As a whole, the segments generated revenues of $1,010,000 ($780,000 +$230,000) from sales to outside customers. In addition, the segments had $300,000 in intersegment sales ($250,000S50,000). Outside Sales Intersegment Sales $270,000 200,000 160,000 150,000 $780,000 $100,000 80,000 50,000 $230,000 One wo Three Four $110,000 70,000 40,000 30,000 Totals Flve Six Seven $20,000 10,000 20,000 $ 50,000 Totals Which of the following statements is true? a. A sufficient number of segments is being reported because those segments have $1,030,000 in b. Not enough segments are being reported because those segments have $780,000 in outside sales c. Not enough segments are being reported because those segments have $1,030,000 in total rev d. A sufficient number of segments is being reported because those segments have $780,000 in total sales of a total of $1,310,000 for the company as a whole of a total of $1,010,000 for the company as a whole. enues of a total of $1,310,000 for the company as a whole. outside sales of a total of $1,010,000 for the company as a whoke

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students