Ecru Company has identified five industry segments: plastics, metals, lumber, paper, and finance. It appropriately consolidated...
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Ecru Company has identified five industry segments: plastics, metals, lumber, paper, and finance. It appropriately consolidated each of these segments in producing its annual financial statements. Information describing each segment (in thousands) follows: Sales to outside parties Intersegment transfers Interest income from outside parties Interest income from intersegment loans Operating expenses Interest expense Tangible assets Intangible assets Intersegment loans (debt.) Plastics $6,870 Metals $2,419 Lumber $ 746 Paper $ 457 Finance $ 0 163 186 151 163 0 41 28 0 49 0 0 0 0 214 4,354 83 1,832 1,136 689 38 38 73 201 109 1,567 94 3,261 589 836 214 416 0 70 0 0 0 719 Ecru does not allocate its $1,360,000 in common expenses to the various segments." Perform testing procedures to determine Ecru's reportable operating segments. a. Revenue test b. Profit or loss test c. Asset test: Complete this question by entering your answers in the tabs below. Profit or Loss: Revenue Test Asset Test Test Perform revenue test procedure to determine Ecru's reportable operating segments. (Round your percentage answers to 1 decimal place. Enter your answers in thousands of dollars.) Intangible assets Intersegment loans (debt). 94 416 0 70 0 0 0 0 719 Ecru does not allocate its $1,360,000 in common expenses to the various segments. Perform testing procedures to determine Ecru's reportable operating segments. a. Revenue test: b. Profit or loss test: c. Asset test: Complete this question by entering your answers in the tabs below. Revenue Test Profit or Loss Test Asset Test Revenue Test Perfol...est procedure to determine Ecru's reportable operating segments. (Round your percentage answers to decimal place. Enter your answers in thousands of dollars.) Segment Plastics Metals Lumber Paper Revenues Percentage Reported or Not Reported % % % % Finance % Total $ 0 0.0 % Revenue Test Profit or Loss Test > Segment and Interim Reporting Assignment Intangible assets Intersegment loans (debt) Saved 94 416 0 Ecru does not allocate its $1,360,000 in common expenses to the various segments. Perform testing procedures to determine Ecru's reportable operating segments. a. Revenue test: b. Profit or loss test: c. Asset test: Complete this question by entering your answers in the tabs below. Profit or Loss Revenue Test Asset Test Test 70 0 0 719 Perform profit or loss test procedure to determine Ecru's reportable operating segments. (Enter your answers in thousands of dollars.) Segment Revenues Expenses Profit Loss Reported or Not Reported Plastics Metals Lumber Paper Finance Total $ 0 $ 0 mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252F Segment and Interim Reporting Assignment Saved Intangible assets Intersegment loans (debt) 416 0 70 0 0 0 0 719 Ecru does not allocate its $1,360,000 in common expenses to the various segments. Perform testing procedures to determine Ecru's reportable operating segments. a. Revenue test: b. Profit or loss test: c. Asset test: Complete this question by entering your answers in the tabs below. Revenue Test Profit or Loss Test Aspet Test Perform asset test procedure to determine Ecru's reportable operating segments. (Round your percentage answers to 1 decimal place. Enter your answers in thousands of dollars.) Segment Assets Percentage Reported or Not Reported Plastics % Metals % Lumber % Paper % Finance: % Total $ 0 0.0 % < Profit or Loss Test Asset Test Ecru Company has identified five industry segments: plastics, metals, lumber, paper, and finance. It appropriately consolidated each of these segments in producing its annual financial statements. Information describing each segment (in thousands) follows: Sales to outside parties Intersegment transfers Interest income from outside parties Interest income from intersegment loans Operating expenses Interest expense Tangible assets Intangible assets Intersegment loans (debt.) Plastics $6,870 Metals $2,419 Lumber $ 746 Paper $ 457 Finance $ 0 163 186 151 163 0 41 28 0 49 0 0 0 0 214 4,354 83 1,832 1,136 689 38 38 73 201 109 1,567 94 3,261 589 836 214 416 0 70 0 0 0 719 Ecru does not allocate its $1,360,000 in common expenses to the various segments." Perform testing procedures to determine Ecru's reportable operating segments. a. Revenue test b. Profit or loss test c. Asset test: Complete this question by entering your answers in the tabs below. Profit or Loss: Revenue Test Asset Test Test Perform revenue test procedure to determine Ecru's reportable operating segments. (Round your percentage answers to 1 decimal place. Enter your answers in thousands of dollars.) Intangible assets Intersegment loans (debt). 94 416 0 70 0 0 0 0 719 Ecru does not allocate its $1,360,000 in common expenses to the various segments. Perform testing procedures to determine Ecru's reportable operating segments. a. Revenue test: b. Profit or loss test: c. Asset test: Complete this question by entering your answers in the tabs below. Revenue Test Profit or Loss Test Asset Test Revenue Test Perfol...est procedure to determine Ecru's reportable operating segments. (Round your percentage answers to decimal place. Enter your answers in thousands of dollars.) Segment Plastics Metals Lumber Paper Revenues Percentage Reported or Not Reported % % % % Finance % Total $ 0 0.0 % Revenue Test Profit or Loss Test > Segment and Interim Reporting Assignment Intangible assets Intersegment loans (debt) Saved 94 416 0 Ecru does not allocate its $1,360,000 in common expenses to the various segments. Perform testing procedures to determine Ecru's reportable operating segments. a. Revenue test: b. Profit or loss test: c. Asset test: Complete this question by entering your answers in the tabs below. Profit or Loss Revenue Test Asset Test Test 70 0 0 719 Perform profit or loss test procedure to determine Ecru's reportable operating segments. (Enter your answers in thousands of dollars.) Segment Revenues Expenses Profit Loss Reported or Not Reported Plastics Metals Lumber Paper Finance Total $ 0 $ 0 mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252F Segment and Interim Reporting Assignment Saved Intangible assets Intersegment loans (debt) 416 0 70 0 0 0 0 719 Ecru does not allocate its $1,360,000 in common expenses to the various segments. Perform testing procedures to determine Ecru's reportable operating segments. a. Revenue test: b. Profit or loss test: c. Asset test: Complete this question by entering your answers in the tabs below. Revenue Test Profit or Loss Test Aspet Test Perform asset test procedure to determine Ecru's reportable operating segments. (Round your percentage answers to 1 decimal place. Enter your answers in thousands of dollars.) Segment Assets Percentage Reported or Not Reported Plastics % Metals % Lumber % Paper % Finance: % Total $ 0 0.0 % < Profit or Loss Test Asset Test
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Related Book For
Advanced Accounting
ISBN: 978-0077431808
10th edition
Authors: Joe Hoyle, Thomas Schaefer, Timothy Doupnik
Posted Date:
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