Sunland 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 2021. A B C D E Sales revenue $39,900 $75,300 $573,800 $35,400 $55,100 Cost of goods sold 19,000 49,500 265,900 19,300 30,200 Operating expenses 10,100 40,500 233,700 11,900 18,300 Total expenses 29,100 90,000 499,600 31,200 48,500 Operating profit (loss) $10,800 $(14,700) $74,200 $4,200 $6,600 Identifiable assets $35,200 $79,900 $493,400 $66,300 $49,900 Sales of segments B and C included intersegment sales of $20,300 and $98,400, respectiv
Sunland 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 2021. A B C D E Sales revenue $39,900 $75,300 $573,800 $35,400 $55,100 Cost of goods sold 19,000 49,500 265,900 19,300 30,200 Operating expenses 10,100 40,500 233,700 11,900 18,300 Total expenses 29,100 90,000 499,600 31,200 48,500 Operating profit (loss) $10,800 $(14,700) $74,200 $4,200 $6,600 Identifiable assets $35,200 $79,900 $493,400 $66,300 $49,900 Sales of segments B and C included intersegment sales of $20,300 and $98,400, respectiv
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter5: The Income Statement And The Statement Of Cash Flows
Section: Chapter Questions
Problem 1RE: Brandt Corporation had sales revenue of 500,000 for the current year. For the year, its cost of...
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Sunland 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 2021.
Sales of segments B and C included intersegment sales of $20,300 and $98,400, respectively.
|
A
|
B
|
C
|
D
|
E
|
|||||||
| Sales revenue | $39,900 | $75,300 | $573,800 | $35,400 | $55,100 | ||||||
| Cost of goods sold | 19,000 | 49,500 | 265,900 | 19,300 | 30,200 | ||||||
| Operating expenses | 10,100 | 40,500 | 233,700 | 11,900 | 18,300 | ||||||
| Total expenses | 29,100 | 90,000 | 499,600 | 31,200 | 48,500 | ||||||
| Operating |
$10,800 | $(14,700) | $74,200 | $4,200 | $6,600 | ||||||
| Identifiable assets | $35,200 | $79,900 | $493,400 | $66,300 | $49,900 |
Sales of segments B and C included intersegment sales of $20,300 and $98,400, respectively.
(a)
Determine which of the segments are reportable based on the:
|
Reportable Segment
|
||||
| (1) | Revenue test. | |||
| (2) | Operating profit (loss) test. | |||
| (3) | Identifiable assets test. |
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