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LenKa [72]
3 years ago
8

Culver Company is involved in four separate industries. The following information is available for each of the four industries.

Operating Segment Total Revenue Operating Profit (Loss) Identifiable Assets W $63,278 $14,930 $155,962 X 10,900 2,380 77,981 Y 27,275 (2,980) 18,823 Z 7,647 1,070 16,134 $109,100 $15,400 $268,900 Determine which of the operating segments are reportable based on the: Reportable Segments (a) Revenue test. select an operating segment (b) Operating profit (loss) test. select an operating segment (c) Identifiable assets test. select an operating segment eTextbook and Media
Business
1 answer:
stira [4]3 years ago
4 0

Answer:

                                                         <u> Reportable Segments </u>

(a) Revenue test.                                      W and Y

(b) Operating profit (loss) test.                W, X and Y

(c) Identifiable assets test.                      W and X

Explanation:

Note: The data in this question are merged together. They are therefore sorted before answering the question. See the attached pdf file for the complete question with the sorted data.

The explanation of the answers is now given as follows:

Note: See the attached excel file for the determination of the operating segments which are reportable (in bold red color).

Note that the criterion is that a segment is reportable if it contains an amount that is greater than 10% of the total amount. Otherwise, it is nonreportable.

Based on this criterion, we have the following from the attached excel file:

                                                         <u> Reportable Segments </u>

(a) Revenue test.                                      W and Y

(b) Operating profit (loss) test.                W, X and Y

(c) Identifiable assets test.                       W and X

Download xlsx
<span class="sg-text sg-text--link sg-text--bold sg-text--link-disabled sg-text--blue-dark"> xlsx </span>
<span class="sg-text sg-text--link sg-text--bold sg-text--link-disabled sg-text--blue-dark"> pdf </span>
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Answer:

The complete answers are below.

Explanation:

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b) The financial statements most frequently provide are: Balance Sheet or Financial Position, Income Statement, Statement of cash flows and Statement of Changes in Equity.

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4 0
2 years ago
Michelle operates a food truck. Indicate the amount (if any) that she can deduct as an ordinary and necessary business deduction
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Answer:

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C. $0

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Personal expenses will not be deductible.

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3 years ago
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Answer:

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P0 = D0 * (1+g) / (r - g)

Plugging in the values,

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