Ivanhoe Company is involved in four separate industries. The following information is available for each of the four industries.Operating Profit (Loss)$16,780Operating SegmentTotal RevenueIdentifiable Assets$63,800$160,370X10,9902,55080,185Y27,500(3,240)19,3557,7101,21016,590$110,000$17,300$276,500Determine which of the operating segments are reportable based on the:Reportable Segments(a)Revenue test.(b)Operating profit (loss) test.(c)Identifiable assets test.

Revenue Test: Based on this test segments whose revenue is 10% or more than 10% will be reportable…

Ivanhoe Company is involved in four separate industries. The following information is available for each of the four industries. Operating Segment Total Revenue Operating Profit (Loss) $16,780 Identifiable Assets $160,370 w $63,800 10,990 2,550 80,185 Y 27,500 (3,240) 19,355 7,710 1,210 16,590 $110,000 $17,300 $276,500 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.

Ivanhoe Company is involved in four separate industries. The following information is available for each of the four industries. Operating Segment Total Revenue Operating Profit (Loss) $16,780 Identifiable Assets $160,370 w $63,800 10,990 2,550 80,185 Y 27,500 (3,240) 19,355 7,710 1,210 16,590 $110,000 $17,300 $276,500 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.

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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