Homework Answers
Ans:
A..REVENUE TEST
THOSE SEGMENT WILL QUALIFY TEST WHO HAVE TOTAL REVENUE $9720 OR MORE So($97200 * 10%)
SO SEGMENT W & Y WILL QUALIFY
B.OPERATING PROFIT OR LOSS TEST
THOSE SEGMENT WILL QUALIFY WHOSE PROFIT OR LOSS 1780 OR MORE IN ABSOLUTE NUMBER.
I;E($17800* 10%)
SO SEGMENT W &X & Y WILL QUALIFY
C..IDENTIFIABLE ASSET TEST
THOSE SEGMENT WILL QUALIFY TEST WHO HAVE TOTAL IDENTIFIABLE ASSET OF $31680 OR MORE
I:E($316800 * 10%)
SO SEGMENT W & X WILL QUALIFY
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Bonita Company is involved in four separate industries. The following information is available for each of...
Nash Company is involved in four separate industries. The following information is available for each of...
Nash Company is involved in four separate industries. The following information is available for each of the four industries. Operating Segment Total Revenue Operating Profit (Loss) Identifiable Assets $63,278 $14.930 $155,962 10,900 2,380 77.981 27,275 (2,980) 18,823 7,647 16,134 1,070 $15,400 $109,100 $268,900 Determine which of the operating segments are reportable based on the: Reportable Segments (a) Revenue test. (b) Operating profit (loss) test. (c) Identifiable assets test.
Waterway Company is involved in four separate industries. The following information is available for each of...
Waterway Company is involved in four separate industries. The following information is available for each of the four industries Operating Segment w X Total Revenue $56,202 9,680 24,225 6,793 $96,900 Operating Profit (Loss) $16,000 2,480 (3,130) 1,150 $16,500 Identifiable Assets $172,434 86,217 20,811 17,838 $297,300 Y Z Determine which of the operating segments are reportable based on the: Reportable Segments (a) Revenue test. (b) Operating profit (loss) test. (c) Identifiable assets test.
Exercise 24-3 Riverbed Company is involved in four separate industries. The following information is available for...
Exercise 24-3 Riverbed Company is involved in four separate industries. The following information is available for each of the four industries. Operating Segment Total Revenue Operating Profit (Loss) Identifiable Assets $17,360 2,610 $57,478 9,900 24,775 6,947 $99,100 169,940 84,970 20,510 17,580 $293,000 (3,320) 1,250 $17,900 Determine which of the operating segments are reportable based on the Reportable Segments (a) Revenue test. (b) Operating profit (loss) test. (c) Identifiable assets test. LINK TO TEXT VIDEO: SIMILAR EXERCISE Question Attempts: 0 of...
Exercise 24-03 Flounder Company is involved in four separate industries. The following information is available for...
Exercise 24-03 Flounder Company is involved in four separate industries. The following information is available for each of the four industries. Operating 3X>N Total Revenue $62,176 10,710 26,800 7,514 $107,200 Operating Profit (Loss) $15,130 2,400 (3,020) 1,090 $15,600 $15,600 Identifiable Assets $178,176 89,088 21,504 18,432 $307,200 Determine which of the operating segments are reportable based on the: Reportable Segments (a) Revenue test. (b) (c) Operating profit (loss) test. Identifiable assets test.
Exercise 24-3 Carlton Company is involved in four separate industries. The following information ...
Exercise 24-3
Carlton Company is involved in four separate industries. The
following information is available for each of the four
industries.
Operating Segment
Total Revenue
Operating Profit (Loss)
Identifiable Assets
W
$60,000
$15,000
$167,000
X
10,000
3,000
83,000
Y
23,000
(2,000)
21,000
Z
9,000
1,000
19,000
$102,000
$17,000
$290,000
Determine which of the operating segments are reportable based on
the:
Reportable Segments
(a)
Revenue test.
WXYZW & XW & YW & ZX & YX & ZY & ZW, X
&...
Sarasota Corporation is a diversified company that operates in five different industries: A, B, C, D,...
Sarasota Corporation is a diversified company that operates in five different industries: A, B, C, D, and E. The following information relating to each segment is available for 2018. D. Sales revenue $575,500 $54,400 $39,600 $76,200 $34,400 Cost of goods sold 19,100 49,600 267,500 19,300 30,300 Operating expenses 10,200 11,900 39,400 231,500 18,300 Total expenses 29,300 89,000 499,000 31,200 48,600 $3,200 Operating profit (loss) Identifiable assets $(12,800) $10,300 $76,500 $5,800 $35,400 $509,700 $64,300 $79,400 $50,300 Sales of segments B and...
Problem 24-2 Oriole Corporation is a diversified company that operates in five different industries: A, B,...
Problem 24-2 Oriole Corporation is a diversified company that operates in five different industries: A, B, C, D, and E. The following information relating to each segment is available for 2018. A В C D Е $578,100 $40,300 $73,800 $35,600 $55,000 Sales revenue Cost of goods sold 19,100 270,800 50,100 19,200 29,500 Operating expenses 39,800 234,600 18,000 9,800 12,000 Total expenses 89,900 31,200 28,900 505,400 47,500 $4,400 $7,500 $11,400 $(16,100) $72,700 Operating profit (loss) $34,600 $79,100 $506,900 $63,800 $50,000 Identifiable...
Sandhill Corporation is a diversified company that operates in five different industries: A, B, C, D,...
Sandhill Corporation is a diversified company that operates in five different industries: A, B, C, D, and E. The following information relating to each segment is available for 2021. A B C D E Sales revenue $39,900 $75,300 $573,800 $35,400 $55,100 Cost of goods sold 19,000 49,500 265,900 19,300 30,200 Operating expenses 10,100 40,500 233,700 11,900 18,300 Total expenses 29,100 90,000 499,600 31,200 48,500 Operating profit (loss) $10,800 $(14,700) $74,200 $4,200 $6,600 Identifiable assets $35,200 $79,900 $493,400 $66,300 $49,900 Sales...
Mason Company has prepared consolidated financial statements for the current year and is now gathering information...
Mason Company has prepared consolidated financial statements for the current year and is now gathering information in connection with the following five operating segments it has identified. Books $ 163 35 Computers $ 730 274 Maps $ 439 50 Travel $ 337 152 Finance $ 0 0 Company Total $1,669 511 119 158 3,610 1,518 71 0 48 0 240 1,433 852 0 360 282 295 158 1, 295 44 126 Sales to outside parties Intersegment sales Interest income-external Interest...
Chinese Corporation is a diversified company that operates in five different industries: Cashew Chicken, Beef...
Chinese Corporation is a diversified company that operates in five different industries: Cashew Chicken, Beef & Broccoli, Mongolian Beef, Sweet & Sour Pork, and Sesame Chicken. The following information relating to each segment is available for 2014. Cashew Chicken Beef & Broccoli Mongolian Beef Sweet & Sour Pork Sesame Chicken Sales Revenue $ 40,000 $ 75,000 $ 580,000 $ 35,000 $ 55,000 COGS $ (19,000) $ (50,000) $ (270,000 $ (19,000) $ (30,000) Operating Expenses (10,000) $ (40,000) $...
Nash Company is involved in four separate industries. The following information is available for each of the four industries. Operating Segment Total Revenue Operating Profit (Loss) Identifiable Assets $63,278 $14.930 $155,962 10,900 2,380 77.981 27,275 (2,980) 18,823 7,647 16,134 1,070 $15,400 $109,100 $268,900 Determine which of the operating segments are reportable based on the: Reportable Segments (a) Revenue test. (b) Operating profit (loss) test. (c) Identifiable assets test.
Waterway Company is involved in four separate industries. The following information is available for each of the four industries Operating Segment w X Total Revenue $56,202 9,680 24,225 6,793 $96,900 Operating Profit (Loss) $16,000 2,480 (3,130) 1,150 $16,500 Identifiable Assets $172,434 86,217 20,811 17,838 $297,300 Y Z Determine which of the operating segments are reportable based on the: Reportable Segments (a) Revenue test. (b) Operating profit (loss) test. (c) Identifiable assets test.
Exercise 24-3 Riverbed Company is involved in four separate industries. The following information is available for each of the four industries. Operating Segment Total Revenue Operating Profit (Loss) Identifiable Assets $17,360 2,610 $57,478 9,900 24,775 6,947 $99,100 169,940 84,970 20,510 17,580 $293,000 (3,320) 1,250 $17,900 Determine which of the operating segments are reportable based on the Reportable Segments (a) Revenue test. (b) Operating profit (loss) test. (c) Identifiable assets test. LINK TO TEXT VIDEO: SIMILAR EXERCISE Question Attempts: 0 of...
Exercise 24-03 Flounder Company is involved in four separate industries. The following information is available for each of the four industries. Operating 3X>N Total Revenue $62,176 10,710 26,800 7,514 $107,200 Operating Profit (Loss) $15,130 2,400 (3,020) 1,090 $15,600 $15,600 Identifiable Assets $178,176 89,088 21,504 18,432 $307,200 Determine which of the operating segments are reportable based on the: Reportable Segments (a) Revenue test. (b) (c) Operating profit (loss) test. Identifiable assets test.
Exercise 24-3
Carlton Company is involved in four separate industries. The
following information is available for each of the four
industries.
Operating Segment
Total Revenue
Operating Profit (Loss)
Identifiable Assets
W
$60,000
$15,000
$167,000
X
10,000
3,000
83,000
Y
23,000
(2,000)
21,000
Z
9,000
1,000
19,000
$102,000
$17,000
$290,000
Determine which of the operating segments are reportable based on
the:
Reportable Segments
(a)
Revenue test.
WXYZW & XW & YW & ZX & YX & ZY & ZW, X
&...
Sarasota Corporation is a diversified company that operates in five different industries: A, B, C, D, and E. The following information relating to each segment is available for 2018. D. Sales revenue $575,500 $54,400 $39,600 $76,200 $34,400 Cost of goods sold 19,100 49,600 267,500 19,300 30,300 Operating expenses 10,200 11,900 39,400 231,500 18,300 Total expenses 29,300 89,000 499,000 31,200 48,600 $3,200 Operating profit (loss) Identifiable assets $(12,800) $10,300 $76,500 $5,800 $35,400 $509,700 $64,300 $79,400 $50,300 Sales of segments B and...
Problem 24-2 Oriole Corporation is a diversified company that operates in five different industries: A, B, C, D, and E. The following information relating to each segment is available for 2018. A В C D Е $578,100 $40,300 $73,800 $35,600 $55,000 Sales revenue Cost of goods sold 19,100 270,800 50,100 19,200 29,500 Operating expenses 39,800 234,600 18,000 9,800 12,000 Total expenses 89,900 31,200 28,900 505,400 47,500 $4,400 $7,500 $11,400 $(16,100) $72,700 Operating profit (loss) $34,600 $79,100 $506,900 $63,800 $50,000 Identifiable...
Mason Company has prepared consolidated financial statements for the current year and is now gathering information in connection with the following five operating segments it has identified. Books $ 163 35 Computers $ 730 274 Maps $ 439 50 Travel $ 337 152 Finance $ 0 0 Company Total $1,669 511 119 158 3,610 1,518 71 0 48 0 240 1,433 852 0 360 282 295 158 1, 295 44 126 Sales to outside parties Intersegment sales Interest income-external Interest...
Chinese Corporation is a diversified company that operates in five different industries: Cashew Chicken, Beef & Broccoli, Mongolian Beef, Sweet & Sour Pork, and Sesame Chicken. The following information relating to each segment is available for 2014. Cashew Chicken Beef & Broccoli Mongolian Beef Sweet & Sour Pork Sesame Chicken Sales Revenue $ 40,000 $ 75,000 $ 580,000 $ 35,000 $ 55,000 COGS $ (19,000) $ (50,000) $ (270,000 $ (19,000) $ (30,000) Operating Expenses (10,000) $ (40,000) $...
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