The following information pertains to the Liberty Company and its divisions for the year ended December 31, 2014 : Sales to unaffiliated customers P10,000,000 Inter- segment sales of products similar to those sold to unaffiliated customers 2,000,000 Liberty Company all its divisions are engaged solely in manufacturing operations. Liberty has a reportable segment if the segment's revenue will total to what amount?

Principles of Accounting Volume 2
19th Edition
ISBN:9781947172609
Author:OpenStax
Publisher:OpenStax
Chapter9: Responsibility Accounting And Decentralization
Section: Chapter Questions
Problem 8PB: The following revenue data were taken from the December 31, 2017, General Electric annual report...
icon
Related questions
Question

The following information pertains to the Liberty Company and its divisions for the year ended December 31, 2014 :

Sales to unaffiliated customers P10,000,000
Inter- segment sales of products similar to those sold to unaffiliated customers 2,000,000
Liberty Company all its divisions are engaged solely in manufacturing operations.


Liberty has a reportable segment if the segment's revenue will total to what amount?

Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 2 steps

Blurred answer
Knowledge Booster
Income Statement Analysis
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.
Similar questions
  • SEE MORE QUESTIONS
Recommended textbooks for you
Principles of Accounting Volume 2
Principles of Accounting Volume 2
Accounting
ISBN:
9781947172609
Author:
OpenStax
Publisher:
OpenStax College
Cornerstones of Cost Management (Cornerstones Ser…
Cornerstones of Cost Management (Cornerstones Ser…
Accounting
ISBN:
9781305970663
Author:
Don R. Hansen, Maryanne M. Mowen
Publisher:
Cengage Learning