The following information is given for the seven segments of English Premier League Ltd: Segments Revenues Operating profit (loss) Assets Chelsea 1,540,000 602,000 1,600,000 Manchester 805,000 (208,000) 870,000 Liverpool 1,948,000 530,000 1,250,000 Arsenal 1,070,000 375,000 1,800,000 Spurs 760,000 220,000 965,000 Newcastle 980,000 402,000 1,400,000 Leeds 1,071,000 (106,000) 1,380,000 Total 8,174,000 1,815,000 9,265,000 Consolidated Totals 8,715,700 1,910,000 9,520,000 Ten percent of the revenues of the following segments relate to intercompany transactions. Manchester Arsenal Spurs Required: a) Determine which segments are reportable. b) Determine whether a substantial portion of English Premier League Ltd.’s total operations is represented by reportable segments.
The following information is given for the seven segments of English Premier League Ltd: Segments Revenues Operating profit (loss) Assets Chelsea 1,540,000 602,000 1,600,000 Manchester 805,000 (208,000) 870,000 Liverpool 1,948,000 530,000 1,250,000 Arsenal 1,070,000 375,000 1,800,000 Spurs 760,000 220,000 965,000 Newcastle 980,000 402,000 1,400,000 Leeds 1,071,000 (106,000) 1,380,000 Total 8,174,000 1,815,000 9,265,000 Consolidated Totals 8,715,700 1,910,000 9,520,000 Ten percent of the revenues of the following segments relate to intercompany transactions. Manchester Arsenal Spurs Required: a) Determine which segments are reportable. b) Determine whether a substantial portion of English Premier League Ltd.’s total operations is represented by reportable segments.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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The following information is given for the seven segments of English Premier League Ltd:
| Segments | Revenues | Operating |
Assets |
| Chelsea | 1,540,000 | 602,000 | 1,600,000 |
| Manchester | 805,000 | (208,000) | 870,000 |
| Liverpool | 1,948,000 | 530,000 | 1,250,000 |
| Arsenal | 1,070,000 | 375,000 | 1,800,000 |
| Spurs | 760,000 | 220,000 | 965,000 |
| Newcastle | 980,000 | 402,000 | 1,400,000 |
| Leeds | 1,071,000 | (106,000) | 1,380,000 |
| Total | 8,174,000 | 1,815,000 | 9,265,000 |
| Consolidated Totals | 8,715,700 | 1,910,000 | 9,520,000 |
Ten percent of the revenues of the following segments relate to intercompany transactions.
Manchester
Arsenal
Spurs
Required:
a) Determine which segments are reportable.
b) Determine whether a substantial portion of English Premier League Ltd.’s total operations is represented by
reportable segments.
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