2. Able Corp. and its divisions are engaged solely in manufacturing operations. The following data pertain to the segments in which operations were conducted for the year ended 12/31/20. Assets Revenue $ 8,000,000 6,400,000 4,800,000 2,400,000 3,400,000 1,200,000 $26,200,000 Profit $1,320,000 1,120,000 960,000 440,000 540,000 180,000 $4,560,000 Industry A 12/31/20 $16,000,000 14,000,000 10,000,000 5,200,000 5,600,000 2,400,000 $53,200,000 In its segment information for 2020, how many reportable segments does Able have? Three а. b. Four Five d. Six C. BCDEE

2. Able Corp. and its divisions are engaged solely in manufacturing operations. The following data pertain to the segments in which operations were conducted for the year ended 12/31/20. Assets Revenue $ 8,000,000 6,400,000 4,800,000 2,400,000 3,400,000 1,200,000 $26,200,000 Profit $1,320,000 1,120,000 960,000 440,000 540,000 180,000 $4,560,000 Industry A 12/31/20 $16,000,000 14,000,000 10,000,000 5,200,000 5,600,000 2,400,000 $53,200,000 In its segment information for 2020, how many reportable segments does Able have? Three а. b. Four Five d. Six C. BCDEE

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Case 12. GLK Corporation and its divisions are engaged solely in manufacturing. The following data pertain to the industries in which operations were conducted for the current year: Operating profit (loss) Segment A 10,000,000 Segment B 2,000,000 Segment C (11,000,000) Segment D 3,000,000 Segment E (12,000,000) 12. In its segment information for the current year, which is (are) not a reportable segment(s)?a. A, B, Cb. B, D c. Bd. None
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