P24-2 (Segmented Reporting

Sigchi4life
Category:
Accounting
Price: $10 USD

Question description

P24-2 (Segmented Reporting) Cineplex Corporation is a diversified company that operates in five different industries: A, B, C, D, and E. The following information relating to each segment is available for 2015.

A

B

C

D

E

Sales revenue

$40,000

$75,000

$580,000

$35,000

$55,000

Cost of goods sold

19,000

50,000

270,000

19,000

30,000

Operating expenses

10,000

40,000

235,000

12,000

18,000

  Total expenses

29,000

90,000

505,000

31,000

48,000

Operating profit (loss)

$ 11,000

$ (15,000)

$ 75,000

$  4,000

$ 7,000

Identifiable assets

$ 35,000

$  80,000

$ 500,000

$ 65,000

$ 50,000

(b) Prepare the necessary disclosures required by GAAP.


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(Top Tutor) Daniel C.
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School: Duke University
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