ABCDESales revenue$40,400$75,400$573,700$34,800 $54,100Cost of goods sold19,20050,500273,600 19,40030,500Operating expenses9,80039,800230,70011,80017,900Total expenses29,00090,300504,30031,20048,400Operating profit (loss)$11,400 $(14,900)$69,400$3,600 $5,700Identifiable assets$34,500 $80,000$501,100$64,700 $50,400Sales of segments B and C included intersegment sales of $20,000 and $101,000, respectively.(a)Determine which of the segments are reportable based on the:1. Revenue test.2Operating profit (loss) test.3. Identifiable assets test.Reportable Segment

Total revenue test can be defined as; it is a method of estimating whether the change in price…

A C D E Sales revenue $40,400 $75,400 $573,700 $34,800 $54,100 Cost of goods sold 19,200 50,500 273,600 19,400 30,500 Operating expenses 9,800 39,800 230,700 11,800 17,900 Total expenses 29,000 90,300 Operating profit (loss) $11,400 $(14,900) Identifiable assets $34,500 $80,000 $69,400 $501,100 $64,700 $50,400 504,300 31,200 48,400 $3,600 $5,700 Sales of segments B and C included intersegment sales of $20,000 and $101,000, respectively. (a) Determine which of the segments are reportable based on the: 1 Revenue test. 2 Operating profit (loss) test. Identifiable assets test. Reportable Segment

A C D E Sales revenue $40,400 $75,400 $573,700 $34,800 $54,100 Cost of goods sold 19,200 50,500 273,600 19,400 30,500 Operating expenses 9,800 39,800 230,700 11,800 17,900 Total expenses 29,000 90,300 Operating profit (loss) $11,400 $(14,900) Identifiable assets $34,500 $80,000 $69,400 $501,100 $64,700 $50,400 504,300 31,200 48,400 $3,600 $5,700 Sales of segments B and C included intersegment sales of $20,000 and $101,000, respectively. (a) Determine which of the segments are reportable based on the: 1 Revenue test. 2 Operating profit (loss) test. Identifiable assets test. Reportable Segment

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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22 Calculate the missing amounts. a b d e Net sales Cost of goods sold Gross profit from sales Operating expenses Profit (loss) $ 208,800 $ 165,000 $ 73,800 41,600 303,000 205,600 108,200 75,200 91,600 93,000 106,000 (31,000) (5,900) 57,000 (28,400)
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Sales Sales Revenue Less Net Sales Cost of Goods Sold Gross Profit Operating Expenses Salaries and Wages Expense Sales Discounts Depreciation Expense Utilities Expense Total Operating Expenses Income From Operations Other Revenues and Gains Interest Revenue Other Expenses and Losses Interest Expense Loss on Disposal of Plant Assets Income Before Income Taxes Income Tax Expense Net Income /(Loss) A V V V CULLUMBER COMPANY Income Statement For the Year Ended December 31, 2025 $ 1,856,400 -134,400 i 390,600 i 260,400 i 92,400 i -59,640 -54,600 i $ 1,722,000 -792,120 929,880 -743,400 i 186,480 54,600 -114,240 126,840 -25,200 i 101,640
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Sales revenue Variable cost of goods sold Fixed cost of goods sold Gross profit Variable operating expenses Fixed operating expenses Common fixed costs Operating income (a) $1,360,000 Q Search Baseball V V 919,000 V 123,800 317,200 183,800 85,200 65,000 ($16,800) Soccer $3,900,000 2,535,000 $ 202,200 $ 1,162,800 624,000 91,000 139,000 Basketball $2,560,000 2,065,600 178,000 316,400 Baseball 256,000 78,900 104,900 $308,800 ($123,400) Doug is concerned that two of the company's divisions are showing a loss, and he wonders if the company should stop selling baseball and basketball gear to concentrate solely on soccer gear. Prepare a segment margin income statement. Fixed cost of goods sold and fixed operating expenses can be traced to each division (If the amount is negative then enter with a negative sign preceding the number, e.g.-5.125 or parenthesis, eg (5,125)) C $ Total $7,820,000 5,519,600 $ 504,000 F 1,796,400 1,063,800 255,100 308,900 $168,600 Soccer $ B:
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