Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Problem 24-2 Ayayai Corporation is a diversified company that operates in five different industries: A, B, C, D, and E. The following information relating to

image text in transcribed
image text in transcribed
Problem 24-2 Ayayai 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 2018. Sales revenue Cost of goods sold Operating expenses $39,700 $76,500 $569,300 $35,500 $55,700 264,800 19,100 30,000 40,700 238,300 11,700 17,800 503,100 30,800 47,800 18,90049,900 10,000 28,90090,600 Total expenses Operating proft (oss) $10,8000066,200400$7,900 $34,500$79,200 $494,000 $65,600 $49,600 Identifiable assets Sales of segments B and C included intersegment sales of $20,100 and $98,500, respectively. (a) Determine which of the segments are reportable based on the: Reportable Segment (1) Revenue test. (2) Operating profit (loss) test. (3) Identifiable assets test. (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).) MacBook Pro Identifiable assets test. (3) (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).) 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: Qpen Show Work

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Students also viewed these Accounting questions