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Category > Accounting Posted 21 Apr 2017 My Price 8.00

ACCOUNTING ISSUES ASSESSMENT ACTIVITY # 5 A. What is Segment Reporting? B. Jonken Industries Ltd is a large diversified Australia public company whose operations are conducted across five countries V, W, X, Y, and Z.And all of its operations are done with

ACCOUNTING ISSUES ASSESSMENT ACTIVITY # 5

A. What is Segment Reporting?

B. Jonken Industries Ltd is a large diversified Australia public company whose operations are conducted across five countries V, W, X, Y, and Z.And all of its operations are done within Australia. The segment data pertaining to Jonken Industries Ltd for the year ended 3 June 2015 is as below:

 

Required

a) Determine which of the above segments would be regarded as material segments

Test 1

Sales Revenue X 10%

21,000 + 57,000 + 450,000 + 18,000 + 36,000 =$ 582,000

582,000 X 10% = $58,200

Therefore country X pass the test with $450,000

Test 2

Operating profit before tax X 10%

6,000 + (12,000) + 51,000 + 6,000 + 3,000= $66,000

$66,000 X 10%=$6,600

Therefore, country X pass the test with $51,000

Test 3

Asset X 10%

24,000 + 45,000 + 285,000 + 48,000 + 105,000 =$507,000

$507,000 X 10%=$50,700

Therefore, country X and Z pass the test with $285,000 and $105,000

 

b) Prepare a segment disclosure note in a good form

Answers

SmartExpert
(118)
Status NEW Posted 21 Apr 2017 06:04 AM My Price 8.00

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