Please answer A, B, E, Others & Totals!! Prepare the necessary disclosures required by...

70.2K

Verified Solution

Question

Accounting

imageimageimageimagePlease answer A, B, E, Others & Totals!!

Prepare the necessary disclosures required by GAAP. (Enter negative amounts using either a negative sign preceding the number eg. -45 or parentheses eg. (45).) B E Other Totals $ $ $ $ $ $ $ $ $ $ $ $ $ Current Attempt in Progress Concord 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 2021. B D E Sales revenue $345.000 $126,000 $83,000 $19,000 $492,000 Cost of goods sold 197,000 90,000 30,000 8,000 308,000 Operating expenses 61.000 56,000 35,000 6,000 112,000 Total expenses 258,000 146,000 65,000 14,000 420,000 Operating profit (loss) $87,000 $(20,000) $18,000 $5,000 $72,000 Identifiable assets $131,000 $29,000 $51,000 $5,000 $390,000 Sales of segments A and C included intersegment sales of $45,000 and $78,000, respectively. Prepare the necessary disclosures required by GAAP. (Enter negative amounts using either a negative sign preceding the number eg. -45 or parentheses eg. (45).) A B E External Revenues $ $ $ $ Intersegment Revenues Total Revenues Cost of Goods Sold Operating Expenses - Total Expenses Operating Profit (Loss) $ $ $ | | 4 Identifiable Assets $ $ $ $ $ (a) Your answer is partially correct. Determine which of the segments are reportable based on the: A B D E Reportable Reportable Reportable Not Reportable Not Reportable Reportable Reportable Reportable Not Reportable Not Reportable V Reportable v Reportable Reportable Not Reportable Not Reportable Attomnt. 1 of 1 usad

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students