Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Problem 24-02 Pearl Corporation is a diversified company that operates in five different industries: A, B, C, D, and E. The following information relating to
Problem 24-02 Pearl 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 Sales $40,400 $75,400 $573,700 $34,800 $54,100 revenue Cost of goods sold 19,200 50,500 273,600 19,400 30,500 Operating 9,800 39,800 230,700 11,800 17,900 expenses Total 29,000 90,300 expenses 504,300 31,200 48,400 Operating profit $11,400 $(14,900) $69,400 $3,600 $5,700 (loss) Identifiable $34,500 $80,000 $501,100 $64,700 $50,400 assets Sales of segments B and C included intersegment sales of $20,000 and $101,000, respectively. Your answer is partially correct. Try again. Determine which of the segments are reportable based on the: Reportable Segment IC (1) Revenue test. (2) Operating profit (loss) test. (3) Identifiable assets test. B and C LINK TO TEXT Your answer is incorrect. Try again. 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).) Other Totals External Revenues Intersegment Revenues Total Revenues Cost of Goods Sold Operating Expenses Total Expenses Operating Profit (Loss) Identifiable Assets Click if you would like to Show Work for this question: Open Show Work
Step 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