Monty Company Is Involved In four separate Industrles. The followIng Information Is avallable for each of the four Industries.operatingSegmentTotalRevenueOperating Profit(Loss)$15,2202,410(3,020)IdentifiableAssetsW.$55,796$182,99091,49524,0506,7441,09018,930$96,200$15,700$315,500Determine which of the operating segments are reportable based on the:Reportable Segments(a)Revenue test.(b)Operating profit (loss) test.IdentifiabiE 25sets test.

The segments are reportable that is exploitable if they have at least 10% of revenues, operating…

Monty Company Is Involved In four separate Industries. The following Information Is avallable for each of the four Industries. Operating Segment Total operating Profit (Loss) $15,220 Identifiable Assets Revenue $55,796 $182,990 9,610 2,410 91,495 Y 24,050 (3,020) 1,090 $15,700 22,085 6,744 18,930 $96,200 $315,500 Determine which of the operating segments are reportable based on the: Reportable Segments (a) Revenue test. (b) Operating profit (loss) test. (c) Identiflable assets test.

Monty Company Is Involved In four separate Industries. The following Information Is avallable for each of the four Industries. Operating Segment Total operating Profit (Loss) $15,220 Identifiable Assets Revenue $55,796 $182,990 9,610 2,410 91,495 Y 24,050 (3,020) 1,090 $15,700 22,085 6,744 18,930 $96,200 $315,500 Determine which of the operating segments are reportable based on the: Reportable Segments (a) Revenue test. (b) Operating profit (loss) test. (c) Identiflable 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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Question

Monty Company Is Involved In four separate Industrles. The followIng Information Is avallable for each of the four Industries.
operating
Segment
Total
Revenue
Operating Profit
(Loss)
$15,220
2,410
(3,020)
Identifiable
Assets
W.
$55,796
$182,990
91,495
24,050
6,744
1,090
18,930
$96,200
$15,700
$315,500
Determine which of the operating segments are reportable based on the:
Reportable Segments
(a)
Revenue test.
(b)
Operating profit (loss) test.
IdentifiabiE 25sets test.

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