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 Sales to outside parties $ 1,678 Books $ 168 Intersegment sales 517 36 Computers $ 732 276 Maps $ 440 51 Travel Finance $ 338 154 $ 0 0 Interest income-external 121 72 0 0 0 49 Interest income-intersegment loans 159 0 0 0 0 159 Assets 3,623 242 1,439 284 358 1,300 Operating expenses 1,517 127 854 289 202 45 Expenses-intersegment sales 246 82 63 43 58 0 Interest expense-external 119 0 0 0 0 119 Interest expense-intersegment loans 195 33 83 50 29 0 Income tax expense (savings) 105 48 (29) 63 67 (44) General corporate expenses 91 Unallocated operating costs 116 Required: a1. Determine the reportable segments by performing revenue test. a2. Determine the reportable segments by performing profit or loss test. a3. Determine the reportable segments by performing asset test.

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 Sales to outside parties $ 1,678 Books $ 168 Intersegment sales 517 36 Computers $ 732 276 Maps $ 440 51 Travel Finance $ 338 154 $ 0 0 Interest income-external 121 72 0 0 0 49 Interest income-intersegment loans 159 0 0 0 0 159 Assets 3,623 242 1,439 284 358 1,300 Operating expenses 1,517 127 854 289 202 45 Expenses-intersegment sales 246 82 63 43 58 0 Interest expense-external 119 0 0 0 0 119 Interest expense-intersegment loans 195 33 83 50 29 0 Income tax expense (savings) 105 48 (29) 63 67 (44) General corporate expenses 91 Unallocated operating costs 116 Required: a1. Determine the reportable segments by performing revenue test. a2. Determine the reportable segments by performing profit or loss test. a3. Determine the reportable segments by performing asset test.

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. CompanyTotal Books Computers Maps Travel Finance Sales to outside parties $ 1,547 $ 121 $ 696 $ 416 $ 314 $ 0 Intersegment sales 421 24 240 39 118 0 Interest income—external 97 60 0 0 0 37 Interest income—intersegment loans 147 0 0 0 0 147 Assets 3,398 206 1,378 248 326 1,240 Operating expenses 1,460 115 818 304 190 33 Expenses—intersegment sales 198 70 51 31 46 0 Interest expense—external 107 0 0 0 0 107 Interest expense—intersegment loans 147 21 71 38 17 0 Income tax…
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 - - - - - Determine the reportable segments by performing asset test. Note: Round your percentage answers to 1 decimal place. Enter your…
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 revenue test. Note: Round your percentage answers to 1 decimal place.…
To manage its operations, Leaf Company reports to top management on five different segments which are consolidated appropriately for the annual financial statements. Information about each segment included in the current year's consolidated statements appears in the table below (in 000's): Sales to outside parties Intersegment revenues Outside parties interest income Intersegment interest income Operating expenses Interest expense Tangible assets Intangib assets a. the revenue test, Tools $8,220 140 -0- -0- 5,090 80 1,620 90 Leaf Company has $305,000 of corporate expenses that it does not allocate to the segments. Carry out: c. the asset test b. the profit and loss test, and Batteries Adhesives Plastics $2,790 170 30 -0- 2,100 20 3,880 470 $830 130 10 -0- 1,390 170 890 -0- $450 140 -0- -0- 750 40 730 60 Finance to determine which segments are separately reportable. Clearly show the results of each test and your decision on each test. $-0- -0- 250 210 20 110 140 870
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Selected comparative statement data for Oriole Company are presented below. All balance sheet data are as of December 31. 20222021Net sales$1,165,000 $1,125,000Cost of goods sold705,000 645,000Interest expense20,000 15,000Net income154,945 145,000Accounts receivable145,000 125,000Inventory105,000 100,000Total assets785,000 700,000Preferred stock (6%)205,000 200,000Total stockholders’ equity635,000 525,000 Compute the following ratios for 2022. (Round answers to 1 decimal place, e.g. 1.8 or 2.5%) (a)Profit marginenter the profit margin in percentages %(b)Asset turnoverenter the asset turnover in times times(c)Return on assetsenter the return on assets in percentages %(d)Return on common stockholders’ equityenter the return on common stockholders' equity in percentages %