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 $21,830 and $102,490, respectively.

(a) Determine which of the segments are reportable based on the:

Reportable Segment

(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

A

B

C

D

E

Sales revenue $55,600 $75,400 $587,100 $35,100 $53,500 Cost of goods sold 20,600 54,800 278,900 20,600 31,500 Operating expenses 9,156 55,600 236,600 12,230 18,110     Total expenses 29,756 110,400 515,500 32,830 49,610 Operating profit (loss) $25,844 $(35,000) $71,600 $2,270 $3,890 Identifiable assets $43,000 $82,400 $506,900 $70,800 $54,800

Explanation / Answer

Particulars A B C D E Total External Revenues 55600 53570 484610 35100 53500 682380 % 8% 8% 71% 5% 8% 100% Reportable No No Yes No No Operating Profit 25844 -35000 71600 2270 3890 103604 % 25% 34% 69% 2% 4% 100% Reportable Yes Yes Yes No No Identifiable Assets 43000 82400 506900 70800 54800 757900 % 6% 11% 67% 9% 7% 100% Reportable No Yes Yes No No

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