Mason 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.Determine the reportable segments by performing each applicable test. Also describe the procedure utilized to ensure that a sufficient number of segments are being separately disclosed. (Figures are in thousands.) CompanyTotalBooks Computers Maps Travel Finance$ 12124Sales to outside parties...Intersegment sales ......Interest income-external .Interest income-intersegment loans..$ 1,547$ 696240$ 416 $314 $ -0-39118-0-374219760-0--0--0-1473,3981,4601471,24033Assets....Operating expenses.-0-206115-0-1,378-0-248304-0-326818190 CompanyTotalBooks Computers Maps Travel FinanceExpenses-intersegment70198107513146sales .....Interest expense-external..Interest expense-intersegment loans..Income tax expense (savings).General corporate expenses....Unallocated operating costs....-0-107-0--0--0--0-1473827172112-0-(8)71(41)21553180

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Answered: Company Total Books Computers Maps…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Mason 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.
Determine the reportable segments by performing each applicable test. Also describe the procedure utilized to ensure that a sufficient number of segments are being separately disclosed. (Figures are in thousands.)

Company
Total
Books Computers Maps Travel Finance
$ 121
24
Sales to outside parties...
Intersegment sales ......
Interest income-external .
Interest income-
intersegment loans..
$ 1,547
$ 696
240
$ 416 $314 $ -0-
39
118
-0-
37
421
97
60
-0-
-0-
-0-
147
3,398
1,460
147
1,240
33
Assets....
Operating expenses.
-0-
206
115
-0-
1,378
-0-
248
304
-0-
326
818
190

Company
Total
Books Computers Maps Travel Finance
Expenses-intersegment
70
198
107
51
31
46
sales .....
Interest expense-external..
Interest expense-
intersegment loans..
Income tax expense (savings).
General corporate expenses....
Unallocated operating costs....
-0-
107
-0-
-0-
-0-
-0-
147
38
27
17
21
12
-0-
(8)
71
(41)
21
55
31
80

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