Skip to content

P24-2 (Segmented Reporting) Cineplex Corporation is a diver

    P24-2 (Segmented Reporting) Cineplex Corporation is a diversified company that operates in five differentindustries: A, B, C, D, and E. The following information relating to each segment is available for 2015.A B C D ESales revenue $40,000 $ 75,000 $580,000 $35,000 $55,000Cost of goods sold 19,000 50,000 270,000 19,000 30,000Operating expenses 10,000 40,000 235,000 12,000 18,000Total expenses 29,000 90,000 505,000 31,000 48,000Operating profi t (loss) $11,000 $ (15,000) $ 75,000 $ 4,000 $ 7,000Identifi able assets $35,000 $ 80,000 $500,000 $65,000 $50,000Sales of segments B and C included intersegment sales of $20,000 and $100,000, respectively.Instructions(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.

    You can hire someone to answer this question! Yes, has paper writers, dedicated to completing research and summaries, critical thinking tasks, essays, coursework, and other homework tasks. Its fast and safe.