(Solved by Humans)-Problem 24-2 Cineplex Corporation is a diversified company that operates in five different...

Paper Details

Problem 24-2 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 $45,800 $74,600 $589,600 $36,400 $53,600 Cost of goods sold 19,200 50,500 280,200 19,200 33,000 Document Preview: Problem 24-2 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 $45,800 $74,600 $589,600 $36,400 $53,600 Cost of goods sold 19,200 50,500 280,200 19,200 33,000 Operating expenses 9,477 45,800 242,300 12,290 19,040  Total expenses 28,677 96,300 522,500 31,490 52,040 Operating profit (loss) $17,123 $(21,700) $67,100 $4,910 $1,560 Identifiable assets $42,200 $88,600 $504,400 $74,300 $50,500 Sales of segments B and C included intersegment sales of $20,500 and $101,370, respectively. (a) Determine which of the segments are reportable based on the: Reportable Segment (1) Revenue test.  ABCDEA and BA and CA and DA, B and CB and CB and EB, D and E (2) Operating profit (loss) test.  ABCDEA and BA and CA and DA, B and CB and CB and EB, D and E (3) Identifiable assets test.  ABCDEA and BA and CA and DA, B and CB and CB and EB, D and E (b) Prepare the necessary disclosures required by GAAP. (Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).) A B C Other Totals External Revenues $ $ $ $ $ Intersegment Revenues Total Revenues $ Cost of Goods Sold Operating Expenses Total Expenses Operating Profit (Loss) $ $ $ $ $ Identifiable Assets $ $ $ $ $