Windsor Corporation is a diversified company that operates in five different industries: A, B, C, D, and E. The following information relating to each segment is available for 2021. A B C D E Sales revenue $40,200 $75,000 $582,000 $35,000 $55,000 Cost of goods sold 19,300 49,500 270,600 19,400 30,500 Operating expenses 9,800 40,800 231,000 12,300 17,600 Total expenses 29,100 90,300 501,600 31,700 48,100 Operating profit (loss) $11,100 $(15,300) $80,400 $3,300 $6,900 Identifiable assets $34,600 $81,500 $504,000 $66,000 $50,600 Sales of segments B and C included intersegment sales of $19,900 and $99,200, respectively. Determine which of the segments are reportable based on the: Reportable Segment (1) Revenue test. (2) Operating profit (loss) test. (3) Identifiable assets test. LINK TO TEXT Prepare the necessary disclosures required by GAAP. (Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).) A B C Other Totals External Revenues $ $ $ $ $ Intersegment Revenues Total Revenues $ Cost of Goods Sold Operating Expenses Total Expenses Operating Profit (Loss) $ $ $ $ $ Identifiable Assets $ $ $ $ $
Windsor Corporation is a diversified company that operates in five different industries: A, B, C, D, and E. The following information relating to each segment is available for 2021. A B C D E Sales revenue $40,200 $75,000 $582,000 $35,000 $55,000 Cost of goods sold 19,300 49,500 270,600 19,400 30,500 Operating expenses 9,800 40,800 231,000 12,300 17,600 Total expenses 29,100 90,300 501,600 31,700 48,100 Operating profit (loss) $11,100 $(15,300) $80,400 $3,300 $6,900 Identifiable assets $34,600 $81,500 $504,000 $66,000 $50,600 Sales of segments B and C included intersegment sales of $19,900 and $99,200, respectively. Determine which of the segments are reportable based on the: Reportable Segment (1) Revenue test. (2) Operating profit (loss) test. (3) Identifiable assets test. LINK TO TEXT Prepare the necessary disclosures required by GAAP. (Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).) A B C Other Totals External Revenues $ $ $ $ $ Intersegment Revenues Total Revenues $ Cost of Goods Sold Operating Expenses Total Expenses Operating Profit (Loss) $ $ $ $ $ Identifiable Assets $ $ $ $ $
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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