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Answer to this only: Determine which of the above segments should be disclosed in the footnotes to the financial statements. Show all calculations. 106. Blanton
Answer to this only:
Determine which of the above segments should be disclosed in the footnotes to the financial statements. Show all calculations.
106. Blanton Corporation is comprised of five operating segments. Information about each of these segments is as follows (in thousands): Required: (a.) Which operating segments are reportable under the revenue test? (b.) What is the total amount of revenues in applying the revenues test? (c.) Which operating segments are reportable under the profit or loss test? (d.) In applying the profit or loss test, what is the minimum amount an operating segment must have in order to meet the profit or loss test for a reportable segment? (e.) Which operating segments are reportable under the asset test? (f.) In applying the asset test, what is the minimum amount an operating segment must have in order to meet the asset test for a reportable segment? (g.) Which operating segments are reportable? (h.) According to the test results for reportable segments, is there a sufficient number of reported segments or should any additional segments also be disclosed? Explain the reason for your conclusion. On February 23, 2011, Cleveland, Inc., paid property taxes of $300,000 for the calendar year 2011Step by Step Solution
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