Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Swifty Corporation and its divisions are engaged solely in manufacturing operations. The following data pertain to the segments in which operations were conducted for the

Swifty Corporation and its divisions are engaged solely in manufacturing operations. The following data pertain to the segments in which operations were conducted for the year ended December 31, 2021.

Assets

Industry

Revenue

Profit

12/31/21

A

$ 7810000

$1320000

$15890000

B

6340000

1122000

13970000

C

4580000

951000

10180000

D

2540000

442000

5240000

E

3360000

534000

5520000

F

1240000

176000

2390000

$25870000

$4545000

$53190000

In its segment information for 2021, how many reportable segments does Swifty have?

Six

Three

Four

Five

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

Step: 3

blur-text-image

Ace Your Homework with AI

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

Get Started

Recommended Textbook for

Intermediate Accounting

Authors: J. David Spiceland, James Sepe, Mark Nelson, Lawrence Tomassini

5th Edition

0077282078, 9780077282073

More Books

Students also viewed these Accounting questions

Question

What are common types of fraudulent financial reporting?

Answered: 1 week ago

Question

8. What values do you want others to associate you with?

Answered: 1 week ago