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:
Plastics | Metals | Lumber | Paper | Finance | |||||||||||||||
Sales to outside parties | $ | 6,770 | $ | 2,369 | $ | 726 | $ | 437 | $ | 0 | |||||||||
Intersegment transfers | 153 | 176 | 141 | 153 | 0 | ||||||||||||||
Interest income from outside parties | 0 | 37 | 24 | 0 | 45 | ||||||||||||||
Interest income from intersegment loans | 0 | 0 | 0 | 0 | 204 | ||||||||||||||
Operating expenses | 4,274 | 1,792 | 1,096 | 669 | 34 | ||||||||||||||
Interest expense | 79 | 34 | 69 | 22 | 105 | ||||||||||||||
Tangible assets | 1,517 | 3,211 | 539 | 786 | 194 | ||||||||||||||
Intangible assets | 90 | 406 | 0 | 66 | 0 | ||||||||||||||
Intersegment loans (debt) | 0 | 0 | 0 | 0 | 709 | ||||||||||||||
Ecru does not allocate its $1,340,000 in common expenses to the various segments.
Perform testing procedures to determine Ecru’s reportable operating segments.
revenue test
segment | revenues | percentage | reported or not reported |
plastics | |||
metals | |||
lumber | |||
paper | |||
finance | |||
totals |
profit or loss test
segment | revenues | expenses | profit | loss | reported or not reported |
plastics | |||||
metals | |||||
lumber | |||||
paper | |||||
finance | |||||
total |
asset test
segment | assets | percentage | reported or not reported |
plastics | |||
metals | |||
lumber | |||
paper | |||
finance | |||
total |
Ecru Company has identified five industry segments: plastics, metals, lumber, paper, and finance. It appropriately consolidated...
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: Finance Metals $ 2,394 181 38 Lumber $ 731 146 25 Paper $ 442 158 B 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 $6,895 159 B...
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: Plastics Metals Lumber Paper Finance Sales to outside parties $ 6,415 $ 2,194 $ 656 $ 367 $ 0 Intersegment transfers 118 141 106 118 0 Interest income from outside parties 0 23 10 0 31 Interest income from intersegment loans 0 0 0 0 169 Operating...
eBook Check my workCheck My Work button is now enabled1 Item1 Item 1 3.33 points 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: Plastics Metals Lumber Paper Finance Sales to outside parties $ 6,625 $ 2,334 $ 701 $ 412 $ 0 Intersegment transfers 146 169 134 146 0 Interest income from outside parties 0...
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