Your answer is partially correct. Try again Shamrock Corporation is a diversifie
ID: 2556668 • Letter: Y
Question
Your answer is partially correct. Try again Shamrock 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 2018. 39,200 $73,500 $576,700 $34,400 $55,800 18.70049,100 10,000 28,700 10,500(15,500) $64,100 3,100 $6,900 35,300 $81,400 Sales revenue Cost of goods sold Operating expenses 273,300 239,300 512,600 19,400 11,900 31,300 30,600 18,300 48,900 39,900 Total expenses Operating profit (loss) Identifia ble assets $0.50 89,000 491,100 $65,400 $50,500 Sales of segments B and C included intersegment sales of $19,600 and $99,300, respectively (a) Determine which of the segments are reporta ble based on the Reportable Segment (1) Revenue test. (2) Operating profit (loss) test. A, B and (3) Identifiable assets test.B and C (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). Other Totals External Revenues 9,20 55,800 576,700 Intersegment Revenues Total Revenues 9,20 5,400 Cost of Goods Sold 19,400 9,100 Operating Expenses 10,00 39,900 Total Expenses 29,400 Operating Profit (Loss) 9800 33,200 Identifia ble Assets 5,30 $81400Explanation / Answer
Answer
A
B
C
Other
TOTALS
External Revenues
$ 39,200.00
$ 53,900.00
$ 4,77,400.00
$ 90,200.00
$ 6,60,700.00
Intersegment Revenues
$ -
$ 19,600.00
$ 99,300.00
$ -
$ 1,18,900.00
Total revenues
$ 39,200.00
$ 73,500.00
$ 5,76,700.00
$ 90,200.00
$ 7,79,600.00
Cost of Goods Sold
$ 18,700.00
$ 49,100.00
$ 2,73,300.00
$ 50,000.00
Operating Expenses
$ 10,000.00
$ 39,900.00
$ 2,39,300.00
$ 30,200.00
Total Expenses
$ 28,700.00
$ 89,000.00
$ 5,12,600.00
$ 80,200.00
Operating Profit (Loss)
$ 10,500.00
$ (15,500.00)
$ 64,100.00
$ 10,000.00
$ 69,100.00
Identifiable Assets
$ 35,300.00
$ 81,400.00
$ 4,91,100.00
$ 1,15,900.00
$ 7,23,700.00
A
B
C
Other
TOTALS
External Revenues
$ 39,200.00
$ 53,900.00
$ 4,77,400.00
$ 90,200.00
$ 6,60,700.00
Intersegment Revenues
$ -
$ 19,600.00
$ 99,300.00
$ -
$ 1,18,900.00
Total revenues
$ 39,200.00
$ 73,500.00
$ 5,76,700.00
$ 90,200.00
$ 7,79,600.00
Cost of Goods Sold
$ 18,700.00
$ 49,100.00
$ 2,73,300.00
$ 50,000.00
Operating Expenses
$ 10,000.00
$ 39,900.00
$ 2,39,300.00
$ 30,200.00
Total Expenses
$ 28,700.00
$ 89,000.00
$ 5,12,600.00
$ 80,200.00
Operating Profit (Loss)
$ 10,500.00
$ (15,500.00)
$ 64,100.00
$ 10,000.00
$ 69,100.00
Identifiable Assets
$ 35,300.00
$ 81,400.00
$ 4,91,100.00
$ 1,15,900.00
$ 7,23,700.00
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