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 $ $ $ $ $

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Problem 24-02

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	$	$	$	$	$

Expert Solution

Trending now

This is a popular solution!

Step by step

Solved in 3 steps with 5 images

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.

Similar questions