Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Answer Part B, please. Thank you. View Policies Current Attempt in Progress Whispering Corporation is a diversified company that operates in five different industries: A,
Answer Part B, please. Thank you.
View Policies Current Attempt in Progress Whispering 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. B D E Sales revenue $340,000 $123,000 $76,000 $21.000 $498,000 Cost of goods sold 200,000 93,000 30,000 8,000 292.000 Operating expenses 61,000 50,000 36,000 6,000 112.000 Total expenses 261,000 143,000 66,000 14,000 404,000 Operating profit (loss) $79,000 $120,000) $10.000 $7,000 $94.000 Identifiable assets $129,000 $29.000 $51.000 $5.000 $399,000 Sales of segments A and C included intersegment sales of $47,000 and $74,000, respectively. (a) Your answer has been saved. See score details after the due date. Determine which of the segments are reportable based on the: A A B D (a) Your answer has been saved. See score details after the due date. Determine which of the segments are reportable based on the: A B D (1) Revenue test. Reportable Not Reportable Not Reportable Not Reportable (2) Operating profit (loss) test. Reportable Not Reportable Not Reportable Not Reportable (3) Identifiable assets test. Reportable Not Reportable Not Reportable Not Reportable e Textbook and Media Assistance Used Attempts: 1 of 1 used (b) 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 E External Revenues $ $ $ Intersegment Revenues Total Revenues Cost of Goods Sold Operating Expenses Total Expenses Operating Profit (Loss) $ $ $ Identifiable Assets $ $ $ e Textbook and MediaStep by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started