Question: Cineplex Corporation is a diversified company that operates in five different industries: A, B, C, D, and E. The following information relating to each segment

Cineplex 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 2015.

Cineplex Corporation is a diversified company that operates in five different industries:

Sales of segments B and C included intersegment sales of $20,000 and $100,000, respectively.

Instructions
(a) Determine which of the segments are reportable based on the:

(1) Revenue test.
(2) Operating profit (loss) test.
(3) Identifiable assets test.

(b) Prepare the necessary disclosures required by GAAP.

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Determination of reportable segments Revenue test 10 X 785000 78500 Only Segment C 580000 meets this ... View full answer

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