Identify the segments which are reportable segments under

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Reference no: EM13566206

XYZ Corporation has eight industry segments with sales, operating profit and loss, and identifiable assets at and for the year ended December 31, 2011, as follows:

	Sales to Unaffiliated Customers	Sales to Affiliated Customers	Profit or (Loss)	Segment Assets
Steel	$1,350,000	$150,000	$265,000	$2,250,000
Auto Parts	1,200,000	---	450,000	1,430,000
Coal Mine	600,000	450,000	(300,000)	1,200,000
Textiles	530,000	220,000	150,000	750,000
Paint	1,120,000	380,000	300,000	1,050,000
Lumber	710,000	---	(75,000)	600,000
Leisure Time	690,000	---	110,000	450,000
Electronics	600,000	---	300,000	670,000
Total	$6,800,000	$1,200,000	$1,200,000	$8,400,000

Required:

A.Identify the segments, which are reportable segments under one or more of the 10 percent revenue, operating profit, or assets tests.

B.After reportable segments are determined under the 10 percent tests, they must be reevaluated under a 75 percent revenue test before a final determination of reportable segments can be made. Under this 75 percent test, identify if any other segments may have to be reported.

Reference no: EM13566206

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