Separate businesses are reportable based on revenue test

Assignment Help Financial Accounting

Reference no: EM131202188

Jackson Ski Company is involved in four separate businesses. The following information is available for each of the four industries. Operating Segment Total Revenue Operating Profit (loss) Identifiable Assets Ski Operations (SO) $70,000 $ 25,000 $ 200,000 Hotel Operations (HO) 20,000 1,500 85.000 Brew Pub (BP) 30,000 (5,000) 50,000 Ski Shop (SS) 10,000 2,000 75,000 Determine which of the separate businesses are reportable based on: (a) Revenue test. (b) Operating profit (loss) test. (c) Identifiable assets test. (Explain & details)

Reference no: EM131202188

Questions Cloud

Lease can best be described : A lease can BEST be described as follows:

Calculate the proceeds : On January 1, 2013, Drennen, Inc., issued $2.6 million face amount of 8-year, 18% stated rate bonds when market interest rates were 16%. Calculate the proceeds (issue price) of Drennen, Inc.'s, bonds on January 1, 2013, assuming that the bonds were s..

Financial statement reporting and tax reporting : Financial statement reporting and Tax reporting are prepared in compliance with the following principles and regulations.

Executory costs related to leasing incude : Executory costs related to leasing incude:

Separate businesses are reportable based on revenue test : Jackson Ski Company is involved in four separate businesses. The following information is available for each of the four industries. Determine which of the separate businesses are reportable based on Revenue test.

Calculate the new total earnings-new book value per share : Dilution Teardrop, Inc., wishes to expand its facilities. The company currently has 10 million shares outstanding and no debt. The stock sells for $20 per share, but the book value per share is $47. Net income for Teardrop is currently $2.7 million. ..

What is an important issue to be considered : What is an important issue to be considered when allowing end users to develop a system?

What capital gain-loss will brighton report on transaction : Brighton Corp. bought an oil rig exactly 6 years ago for $113,000,000. Brighton depreciates oil rigs straight line over 10 years assuming no salvage value. The rig was just sold to British Petroleum for $31,000,000. What Capital Gain/Loss will Bright..

The invoices that include the snow blower discount : Chuck in IT got a call from Phil in Marketing. "Chuck, I need you to do something for me. Query sales data for the first quarter and pull out all of the invoices that include the snow blower discount. I need a count and the total amount of the discou..

User Account

All Pages