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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 Intersegnent loans (debt) Plastics Metals $6,620 $2,294 140 a. Revenue test: b. Profit or loss test: c. Asset test: e 4,154 73 1,427 84 161 31 e 1,732 28 3,136 391 Lumber $696 126 18 e 1,036 63 464 e e Ecru does not allocate its $1,310,000 in common expenses to the various segments. Perform testing procedures to determine Ecru's reportable operating segments. Paper $ 487 138 e 639 25 711 60 e Finance $ 189 28 99 164 694

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 Intersegnent loans (debt) Plastics Metals $6,620 $2,294 140 a. Revenue test: b. Profit or loss test: c. Asset test: e 4,154 73 1,427 84 161 31 e 1,732 28 3,136 391 Lumber $696 126 18 e 1,036 63 464 e e Ecru does not allocate its $1,310,000 in common expenses to the various segments. Perform testing procedures to determine Ecru's reportable operating segments. Paper $ 487 138 e 639 25 711 60 e Finance $ 189 28 99 164 694

FINANCIAL ACCOUNTING
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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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 Intersegnent loans (debt) a. Revenue test: b. Profit or loss test: c. Asset test: Revenue Test Profit or Loss Test Plastics $6,620 Asset Test Plastics Metals Lumber Paper Finance Total 140 Segment Revenues Percentage e e 4,154 73 1,427 84 e % % % % % % Metals Lumber $ 2,294 $ 696 161 126 31 e 1,732 28 3,136 391 e Ecru does not allocate its $1,310,000 in common expenses to the various segments. Perform testing procedures to determine Ecru's reportable operating segments. 18 e 1,036 63 464 Complete this question by entering your answers in the tabs below. Reported or Not Reported e e Paper $ 487 138 0 Show Transcribed Tex e 639 25 711 60 e Finance $0 Perform revenue test procedure to determine Ecru's reportable operating segments. (Round your percentage ans decimal place. Enter your answers in thousands of dollars.) 0 39 189 28 99 164 e 694
Transcribed Image Text: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 Intersegnent loans (debt) a. Revenue test: b. Profit or loss test: c. Asset test: Revenue Test Profit or Loss Test Plastics $6,620 Asset Test Plastics Metals Lumber Paper Finance Total 140 Segment Revenues Percentage e e 4,154 73 1,427 84 e % % % % % % Metals Lumber $ 2,294 $ 696 161 126 31 e 1,732 28 3,136 391 e Ecru does not allocate its $1,310,000 in common expenses to the various segments. Perform testing procedures to determine Ecru's reportable operating segments. 18 e 1,036 63 464 Complete this question by entering your answers in the tabs below. Reported or Not Reported e e Paper $ 487 138 0 Show Transcribed Tex e 639 25 711 60 e Finance $0 Perform revenue test procedure to determine Ecru's reportable operating segments. (Round your percentage ans decimal place. Enter your answers in thousands of dollars.) 0 39 189 28 99 164 e 694
Complete this question by entering your answers in the tabs below. Revenue Test Profit or Loss Test Perform profit or loss test procedure to determine Ecru's reportable operating segments. (Enter your answers in thou dollars.) Segment Plastics Metals Lumber Paper Finance Total Revenue Test Asset Test Revenues Expenses Profit Loss Plastics Metals Complete this question by entering your answers in the tabs below. Lumber Paper Finance Total Show Transcribed Tex Profit or Loss Test Asset Test Segment Assets Percentage 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.) % % G % % Reported or Not Reported % % Reported or Not Reported c
Transcribed Image Text:Complete this question by entering your answers in the tabs below. Revenue Test Profit or Loss Test Perform profit or loss test procedure to determine Ecru's reportable operating segments. (Enter your answers in thou dollars.) Segment Plastics Metals Lumber Paper Finance Total Revenue Test Asset Test Revenues Expenses Profit Loss Plastics Metals Complete this question by entering your answers in the tabs below. Lumber Paper Finance Total Show Transcribed Tex Profit or Loss Test Asset Test Segment Assets Percentage 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.) % % G % % Reported or Not Reported % % Reported or Not Reported c
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