Selected information, which is reported to the chief operating officer, for the five segments of Rad Company for the year ended December 31, 2011, is as follows: The lumber segment has not been a...

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Selected information, which is reported to the chief operating officer, for the five segments of Rad Company for the year ended December 31, 2011, is as follows:

The lumber segment has not been a reportable segment in prior years and is not expected to be a reportable segment in future years.
REQUIRED
1. Prepare schedules to show which of the segments are reportable segments under:
(a) The 10% revenue test
(b) The 10% operating-profit test
(c) The 10% asset test
2. Which of the segments meet at least one of the tests for reportable segments?
3. Must additional reportable segments be identified?
4. Prepare a schedule for appropriate disclosure of the above segmented data in the financial report of Rad Company for the year ended December 31,2011.

Answered Same Day Dec 21, 2021

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Robert answered on Dec 21 2021

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Selected information, which is reported to the chief operating officer, for the five segments of Rad Company for the year ended December 31, 2011, is as follows: The lumber segment has not been a...

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