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Problem 24-2 Tamarisk Corporation is a diversified company that operates in five different industries: A, B, C, D, and E. The following information relating to
Problem 24-2 Tamarisk 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 $585,500 $35,700 $55,500 29,500 18,100 47,600 $11,100 $(14,200) $87,200 $4,600 $7,900 $497,600 $64,400 $49,900 $39,200 $74,900 49,900 39,200 89,100 19,200 8,900 28,100 266,300 232,000 498,300 18,800 12,300 31,100 Total expenses Operating profit (loss) Identifiable assets $34,400 $80,100 Sales of segments B and C included intersegment sales of $19,900 and $98,400, 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).) Totals External Revenues Intersegment Revenues Total Revenues Cost of Goods Sold Operating Expenses Total Expenses Operating Profit (Loss) Identifiable Assets
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