Prepare the necessary disclosures required by gaap

Assignment Help Financial Accounting
Reference no: EM132856284

Problem - This is a table ABCDE is the header. There is no missing information

 

A

B

C

D

E

Sales revenue

$39,800

$75,700

$583,300

$34,800

$54,300

Cost of goods sold

19,100

49,500

265,200

19,100

30,100

Operating expenses

10,100

39,400

233,800

11,900

18,400

Total expenses

29,200

88,900

499,000

31,000

48,500

Operating profit (loss)

$10,600

$(13,200)

$84,300

$3,800

$5,800

Identifiable assets

$34,300

$79,900

$499,400

$64,300

$49,500

Sales of segments B and C included intersegment sales of $20,200 and $99,500, respectively.

Required -

(a) Determine which of the segments are reportable based on the:

(1) Revenue test.

(2) Operating profit (loss) test.

(3) Identifiable assets test.

(b) Prepare the necessary disclosures required by GAAP.

Reference no: EM132856284

Questions Cloud

What is the probability of actually having lung cancer : What is the probability of actually having lung cancer if an adult tests positive for lung cancer?
Why was model used by amazon for hiring : How do humans remain vigilant when we turn over authority to computers? Have you tried to navigate without gps? Why did Skynet declare war on the human race?
Malware Analysis - download and analyse the bots : Investigation should be done by carrying out literature review of research papers, industry reports and any other resources you may find related to that botnet
What is the probability high school diploma : What is the probability that more than 3 of them have a high school diploma? (That is, what is P(X>3) (round to 4 decimal places)
Prepare the necessary disclosures required by gaap : Sales of segments B and C included intersegment sales of $20,200 and $99,500, respectively. Prepare the necessary disclosures required by GAAP
How useful are crowd sources answers : What are some drawbacks to crowd sourced answers? How reliant are we and how reliant should we be on getting our news from social media?
Why is wikipedia more reliable than a paper encyclopedia : Describe Digital Literacy (how to know what is real on the web). Why is Wikipedia more reliable than a paper encyclopedia? What does this mean to you?
What is the big five personality model : Discuss Howell and Mendez's three perspectives on followership. Note how these behaviors influence work productivity. What is the big five personality model?
What does the business do and what industry are in : What type of documents do they collect or create, and are they currently paper or electronic? What does the business do and what industry are they in?

Reviews

Write a Review

Financial Accounting Questions & Answers

  Find national leagues first year of operations

National League Gear has two classes of stock authorized: 6%, $20 par preferred, and $5 par value common

  Amount of dividends to distributed to preffered shareholders

McBean Company has outstanding 18 million shares of $3 par value common stock and 1.8 million shares of $5 par value preferred stock. The preferred stock has a 8% dividend rate. The company declares $10,800,000 in total dividends for the year. Prefer..

  Purchase new equipment-what sinking fund payment

Hot Wheels Depot needs to accumulate $25,000 in 6 years to purchase new equipment. What sinking fund payment would they need to make at the END of every three months, at 8% interest compounded quarterly? (Use Table 12-1 from your text)

  Which change from moving weighted average to fifo reporting

Which change from moving weighted average to FIFO reporting is? Allowed if it improves the usefulness of information in the financial statements

  Production bonus and make-up guarantee.

Jay Vato works at Batwing Industries from midnight until 8:00 AM. His normal wage rate is $17 per hour, while Ben Phillips, who does the same job from 8:00 AM until 4:00 PM makes $15 per hour. Since Ben and Jay have the same seniority within the plan..

  How do discuss patent and staff skills can be recognised

How do Discuss whether the patent and the staff skills can be recognised as an intangible asset in terms of IAS 38, Intangible Assets.

  What total amount of interest paid to pass-through investor

Mortgage-Pass Throughs, Assuming a prepayment multiplier of 100 PSA what is the total amount of interest paid to the pass-through investors?

  Statements about inventory classifications

Which of the following statements about inventory classifications is not correct?

  Have identified knowledge may have overlooked

Have they approached topics differently than you? Have they identified knowledge you may have overlooked? Were there any key takeaways?

  Question show the amount if any that josh will deduct as

question show the amount if any that josh will deduct as ordinary and essential business deductions in each of the

  What is the expected rate of return

12-year bonds pay 8 percent interest annually on a $1,000 par value. If they are purchased at the market price, what is the expected rate of return?

  Prepare the related balance sheet account numbers

In spring 2014, Eva Engineering Company signed a contract with the city of Springfield, to construct a new city hall. Eva expects to construct the building within two years and incur expenses of $120 million, which means the company earns a $40 milli..

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd