Answer:
Marigold Corp.
The segments to be disclosed in accordance with professional pronouncements are:
a. Segments A, B, C, and D
Explanation:
a) Data and Calculations:
Operating
Segments Total Revenue Profit (Loss) Identifiable Assets
A $254,500 $30,300 $899,000
B 599,500 (55,700) 801,500
C 225,500 52,004 49,000
D 90,800 4,700 226,000
Total $1,170,300 $31,304 $1,975,500
b) According to professional pronouncements and U.S. Generally Accepted Accounting Principles (GAAP), public companies must report a segment if the segment accounts for 10% of total revenues, 10% of total profits, or 10% of total assets. The main purpose for presenting financial information by segments is to provide users of financial statements with information for making more informed economic decisions.
