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Question 6 (Segment Reporting) Chinese Corporation is a diversified company that operates in five different industries: Cashew Chicken, Beef & Broccoli, Mongolian Beef, Sweet &
Question 6 (Segment Reporting)
Chinese Corporation is a diversified company that operates in five different industries: Cashew Chicken, Beef & Broccoli, Mongolian Beef, Sweet & Sour Pork, and Sesame Chicken. The following information relating to each segment is available for 2014.
Cashew Chicken | Beef & Broccoli | Mongolian Beef | Sweet & Sour Pork | Sesame Chicken | |
Sales Revenue | $ 40,000 | $ 75,000 | $ 580,000 | $ 35,000 | $ 55,000 |
COGS | $ (19,000) | $ (50,000) | $ (270,000) | $ (19,000) | $ (30,000) |
Operating Expenses | $ (10,000) | $ (40,000) | $ (235,000) | $ (12,000) | $ (18,000) |
Total Expenses | $ (29,000) | $ (90,000) | $ (505,000) | $ (31,000) | $ (48,000) |
Operating Profit (Loss) | $ 11,000 | $ (15,000) | $ 75,000 | $ 4,000 | $ 7,000 |
Identifiable Assets | $ 35,000 | $ 80,000 | $ 500,000 | $ 65,000 | $ 50,000 |
Determine which of the segments are reportable.
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