Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Will someone please help with these assignments 1. Operating profit test Pong industries operations involve four operating segments. A,B,C and D. During the past year,

Will someone please help with these assignments

1. Operating profit test

Pong industries operations involve four operating segments. A,B,C and D. During the past year, the operating profit (loss) of each segment was

Segment Operating profit (loss)

A $(600)

B 100

C 900

D (700)

Required:

Applying the operating profit or loss test, determine which of the segments are reportable segments?

2. Revenue test

Mane company operates in five identifiable segments, V,W,X,Y, and Z. during the past year, sales to unaffiliated customers and intersegment sales for each segment were as follow

Segment Sales to nonaffiliates Intersegment sales Total sales

V $2,000 $ 400 $2,400

W 280 20 300

X 100 600 700

Y 1,100 0 1,100

Z 350 25 375

$3,830 $1,045 $$4,875

Applying the revenue test, determine which of the segments are reportable segments

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

CIA Part 1 Essentials Of Internal Auditing Certified Internal Auditor 2019

Authors: Muhammad Zain

1st Edition

1091949182, 978-1091949188

More Books

Students also viewed these Accounting questions

Question

Define Administration and Management

Answered: 1 week ago

Question

Define organisational structure

Answered: 1 week ago

Question

Define line and staff authority

Answered: 1 week ago

Question

Define the process of communication

Answered: 1 week ago

Question

Explain the importance of effective communication

Answered: 1 week ago

Question

4. Does cultural aptitude impact ones emotional intelligence?

Answered: 1 week ago