Celine 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: Division Operating Profit (Loss) A P30,000,000 В 10,000,000 C ( 8,000,000) D ( 2,000,000) E 5,000,000 In its current year financial statements, Celine Corporation should disclose an operating segment if operating profit or loss is at least B.

Celine 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: Division Operating Profit (Loss) A P30,000,000 В 10,000,000 C ( 8,000,000) D ( 2,000,000) E 5,000,000 In its current year financial statements, Celine Corporation should disclose an operating segment if operating profit or loss is at least B.

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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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.
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The income statement is incomplete but that is the format that is needed
PROVIDE Answer with calculation
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