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Determine which of the segments are reportable and not reportable. Support your answers.

Determine which of the segments are reportable and not reportable. Support your answers.

FINANCIAL ACCOUNTING
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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D. CC Co. is engaged in manufacturing and selling garments. It has been defining its operating segments as men's dept., women's dept., boys' dept., and girls' dept. Due to the sheer size of each segment, they all meet the quantitative threshold for definition of reportable operating segment. Subsequent to a recent management shakeup, the company modified its management reporting framework and it now looks at its operations from a geographical point of view. The following are the information during the year: (in pesos and in millions) Legazpi 24 Sorsogon 32 Daet Naga Masbate Catanduanes Total 102 Revenue 22 10 10 4 Profit/(loss) 3.2 (0.5) 4 7 (1.3) 20 (0.3) 12 12.1 Assets 34 12 28 40 146 Required: 31 – 35. Determine which of the segments are reportable and not reportable. Support your answers.
Transcribed Image Text:D. CC Co. is engaged in manufacturing and selling garments. It has been defining its operating segments as men's dept., women's dept., boys' dept., and girls' dept. Due to the sheer size of each segment, they all meet the quantitative threshold for definition of reportable operating segment. Subsequent to a recent management shakeup, the company modified its management reporting framework and it now looks at its operations from a geographical point of view. The following are the information during the year: (in pesos and in millions) Legazpi 24 Sorsogon 32 Daet Naga Masbate Catanduanes Total 102 Revenue 22 10 10 4 Profit/(loss) 3.2 (0.5) 4 7 (1.3) 20 (0.3) 12 12.1 Assets 34 12 28 40 146 Required: 31 – 35. Determine which of the segments are reportable and not reportable. Support your answers.
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