Lancers Inc. is involved in five separate industries. The following information is available for each of the

Question:

Lancers Inc. is involved in five separate industries. The following information is available for each of the five industry segments.

Instructions
Determine which of the operating segments are reportable based on the:
(a) Revenue test.
(b) Operating profit (loss) test.
(c) Identifiable assetstest.

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Related Book For book-img-for-question

Intermediate Accounting

ISBN: 978-1118147290

15th edition

Authors: Donald E. Kieso, Jerry J. Weygandt, and Terry D. Warfield

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Question Posted: Jun 07, 2013 10:50 AM

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Lancers Inc. is involved in five separate industries. The following information is available for each of the

Question:

Operating Segment Total Revenue Operating Profit (Loss) dentifiable Assets $140,000 40,000 26,000 190,000 2,000 $398,000 $25,000 8,000 (5,000) (2,000) 500 $240,000 11,000 36,000 59,000 15,000 $361,000 $26,500

Step by Step Answer:

a Revenue test 10 X 398000 39800 Segments A 140000 B 40000 and ...View the full answer

Intermediate Accounting

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