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Phillip's Fun Center has several playgrounds areas, go-karts, miniature golf, bumper boats, paintball, and laser tag. Determine whether the company should report each of the
Phillip's Fun Center has several playgrounds areas, go-karts, miniature golf, bumper boats, paintball, and laser tag. Determine whether the company should report each of the following items as discontinued operations, other revenues, or other expenses: Item Classification 1. The company sells an outdoor playground at a gain of $5,000. 2. The company sold its old go-karts at a loss of $25,000 and replaced them with all new go-karts. The company sold its laser tag center at a loss of $10,000 to focus on the other more profitable segments. Laser 3. tag is considered to be a separate business segment. 4. The company restructured its business at a cost of $75,000, replacing some employee positions with automated equipment
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