Question
Bonita Corporation is a diversified company that operates in five different industries: A, B, C, D, and E. The following information relating to each segment
Bonita 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 | $40,300 | $73,800 | $578,100 | $35,600 | $55,000 | ||||||
Cost of goods sold | 19,100 | 50,100 | 270,800 | 19,200 | 29,500 | ||||||
Operating expenses | 9,800 | 39,800 | 234,600 | 12,000 | 18,000 | ||||||
Total expenses | 28,900 | 89,900 | 505,400 | 31,200 | 47,500 | ||||||
Operating profit (loss) | $11,400 | $(16,100) | $72,700 | $4,400 | $7,500 | ||||||
Identifiable assets | $34,600 | $79,100 | $506,900 | $63,800 | $50,000 |
Sales of segments B and C included intersegment sales of $20,100 and $99,800, respectively.
(a)
Determine which of the segments are reportable based on the:
Reportable Segment | ||||
(1) | Revenue test. | ABCDEA and BA and CA and DA, B and CB and CB and EB, D and E | ||
(2) | Operating profit (loss) test. | ABCDEA and BA and CA and DA, B and CB and CB and EB, D and E | ||
(3) | Identifiable assets test. | ABCDEA and BA and CA and DA, B and CB and CB and EB, D and E |
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(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 | C | Other | Totals | ||||||
External Revenues | $ | $ | $ | $ | $ | |||||
Intersegment Revenues | ||||||||||
Total Revenues | $ | |||||||||
Cost of Goods Sold | ||||||||||
Operating Expenses | ||||||||||
Total Expenses | ||||||||||
Operating Profit (Loss) | $ | $ | $ | $ | $ | |||||
Identifiable Assets | $ | $ | $ | $ | $ |
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