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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