Cineplex Corporation is a diversified company that operates in five different in

Question

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 of segments B and C included intersegment sales of $23,140 and $101,840, respectively.

(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

Open Show Work

A

B

C

D

E

Sales revenue $50,300 $75,200 $587,100 $39,500 $54,900 Cost of goods sold 19,400 55,000 273,000 19,400 32,600 Operating expenses 9,402 50,300 235,400 12,390 19,060     Total expenses 28,802 105,300 508,400 31,790 51,660 Operating profit (loss) $21,498 $(30,100) $78,700 $7,710 $3,240 Identifiable assets $41,300 $82,800 $507,900 $72,800 $55,000

Explanation / Answer

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 $50,300 $75,200 $587,100 $39,500 $54,900 Cost of goods sold 19,400 55,000 2,73,000 19,400 32,600 Operating expenses 9,402 50,300 2,35,400 12,390 19,060     Total expenses 28,802 1,05,300 5,08,400 31,790 51,660 Operating profit (loss) $21,498 $(30,100) $78,700 $7,710 $3,240 Identifiable assets $41,300 $82,800 $507,900 $72,800 $55,000 Sales of segments B and C included intersegment sales of $23,140 and $101,840, respectively. (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 $ 50300 $ 75200 $ 587100 $ 94400 $ 807000 Intersegment Revenues -23140 -101840 -124980 Total Revenues 50300 52060 485260 94400 $ 682020 Cost of Goods Sold -19400 -55000 -273000 -52000 -399400 Operating Expenses -9402 -50300 -235400 -31450 -326552 Total Expenses -28802 -105300 -508400 -83450 -725952 Operating Profit (Loss) $ 21498 $ -53240 $ -23140 $ 10950 $ -43932 Identifiable Assets $ 41300 $ 82800 $ 507900 $ 127800 $ 759800

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