5points eBookHintReferences Check my workCheck My Work button is now enabled Item1 Oroblanco Company has prepared consolidated financial statements for the current year and is now gathering information in connection with the following five operating segments it has identified. (Figures are in thousands.) Accounts Company Total Books Computers Maps Travel Finance Sales to outside parties $ 1,735 $ 191 $ 752 $ 447 $ 345 $ 0 Intersegment sales 559 43 290 58 168 0 Interest income—external 130 74 0 0 0 56 Interest income—intersegment loans 166 0 0 0 0 166 Assets 3,715 256 1,473 298 353 1,335 Operating expenses 1,560 134 868 297 209 52 Expenses—intersegment sales 264 89 70 40 65 0 Interest expense—external 126 0 0 0 0 126 Interest expense—intersegment loans 223 40 90 57 36 0 Income tax expense (savings) 140 62 (22) 77 81 (58) General corporate expenses 105 - - - - - Unallocated operating costs 130 - - - - - Required: Determine the reportable segments by performing profit or loss test. Note: Enter your answers in thousands of dollars. Segment Revenues Expenses Profit Loss Reported or Not Reported Books Computers Maps Travel Finance Total $0 $0 $0 $0
5points eBookHintReferences Check my workCheck My Work button is now enabled Item1 Oroblanco Company has prepared consolidated financial statements for the current year and is now gathering information in connection with the following five operating segments it has identified. (Figures are in thousands.) Accounts Company Total Books Computers Maps Travel Finance Sales to outside parties $ 1,735 $ 191 $ 752 $ 447 $ 345 $ 0 Intersegment sales 559 43 290 58 168 0 Interest income—external 130 74 0 0 0 56 Interest income—intersegment loans 166 0 0 0 0 166 Assets 3,715 256 1,473 298 353 1,335 Operating expenses 1,560 134 868 297 209 52 Expenses—intersegment sales 264 89 70 40 65 0 Interest expense—external 126 0 0 0 0 126 Interest expense—intersegment loans 223 40 90 57 36 0 Income tax expense (savings) 140 62 (22) 77 81 (58) General corporate expenses 105 - - - - - Unallocated operating costs 130 - - - - - Required: Determine the reportable segments by performing profit or loss test. Note: Enter your answers in thousands of dollars. Segment Revenues Expenses Profit Loss Reported or Not Reported Books Computers Maps Travel Finance Total $0 $0 $0 $0
Excel Applications for Accounting Principles
4th Edition
ISBN:9781111581565
Author:Gaylord N. Smith
Publisher:Gaylord N. Smith
Chapter22: Master Budget (master)
Section: Chapter Questions
Problem 2R: Open the file MASTER from the website for this book at cengagebrain.com. Enter all the formulas...
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Item1
Oroblanco Company has prepared consolidated financial statements for the current year and is now gathering information in connection with the following five operating segments it has identified. (Figures are in thousands.)
Accounts | Company Total | Books | Computers | Maps | Travel | Finance |
---|---|---|---|---|---|---|
Sales to outside parties | $ 1,735 | $ 191 | $ 752 | $ 447 | $ 345 | $ 0 |
Intersegment sales | 559 | 43 | 290 | 58 | 168 | 0 |
Interest income—external | 130 | 74 | 0 | 0 | 0 | 56 |
Interest income—intersegment loans | 166 | 0 | 0 | 0 | 0 | 166 |
Assets | 3,715 | 256 | 1,473 | 298 | 353 | 1,335 |
Operating expenses | 1,560 | 134 | 868 | 297 | 209 | 52 |
Expenses—intersegment sales | 264 | 89 | 70 | 40 | 65 | 0 |
Interest expense—external | 126 | 0 | 0 | 0 | 0 | 126 |
Interest expense—intersegment loans | 223 | 40 | 90 | 57 | 36 | 0 |
Income tax expense (savings) | 140 | 62 | (22) | 77 | 81 | (58) |
General corporate expenses | 105 | - | - | - | - | - |
Unallocated operating costs | 130 | - | - | - | - | - |
Required:
Determine the reportable segments by performing profit or loss test.
Note: Enter your answers in thousands of dollars.
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