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

Cornerstones of Financial Accounting
4th Edition
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Jay Rich, Jeff Jones
Chapter4: Internal Control And Cash
Section: Chapter Questions
Problem 68.4C
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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.

 
 
 
 
Segment Revenues Expenses Profit Loss Reported or Not Reported
Books          
Computers          
Maps          
Travel          
Finance          
Total $0 $0 $0 $0
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