Mason Company has prepared consolidated financial statements for the current year and is now gathering information in connectionwith the following five operating segments it has identified.CompanyTotalВooksComputersFinanceМаps$ 443TravelSales to outside parties$1,702$ 173$745$ 341$39Intersegment salesInterest income-external5352825416012270Interest income-intersegment loans162162Assets3,6552481,4572903451,315Operating expensesExpenses-intersegment salesInterest expense-externalInterest expense-intersegment loansIncome tax expense (savings)General corporate expensesUnallocated operating costs1,52525813086028220548856646611221222073686533212054(26)69(50)97122Determine the reportable segments by performing each applicable test. (Figures are in thousands.)a. Revenue test:b. Profit or loss test:c. Asset test:O O N N 5 C0 on LOO N MO OO O O 0 O

Reportable segments are those segment that are to be separately reported in the financials of the…

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. Company Total Books $ 173 Finance Computers $ 745 282 Travel Maps $ 443 Sales to outside parties Intersegment sales Interest income-external $ 341 160 $1,702 $ 0 535 39 54 122 70 52 Interest income-intersegment loans 162 162 Assets 290 3,655 1,525 248 1,457 345 1,315 48 Operating expenses Expenses-intersegment sales Interest expense-external Interest expense-intersegment loans Income tax expense (savings) General corporate expenses Unallocated operating costs 130 860 282 205 258 85 66 46 61 122 122 207 36 86 53 32 120 54 (26) 69 73 (50) 97 122 Determine the reportable segments by performing each applicable test. (Figures are in thousands.) a. Revenue test: b. Profit or loss test: c. Asset test:

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. Company Total Books $ 173 Finance Computers $ 745 282 Travel Maps $ 443 Sales to outside parties Intersegment sales Interest income-external $ 341 160 $1,702 $ 0 535 39 54 122 70 52 Interest income-intersegment loans 162 162 Assets 290 3,655 1,525 248 1,457 345 1,315 48 Operating expenses Expenses-intersegment sales Interest expense-external Interest expense-intersegment loans Income tax expense (savings) General corporate expenses Unallocated operating costs 130 860 282 205 258 85 66 46 61 122 122 207 36 86 53 32 120 54 (26) 69 73 (50) 97 122 Determine the reportable segments by performing each applicable test. (Figures are in thousands.) a. Revenue test: b. Profit or loss test: c. Asset test:

Century 21 Accounting General Journal

11th Edition

ISBN:9781337680059

Author:Gilbertson

Publisher:Gilbertson

Chapter17: Financial Statement Analysis

Section: Chapter Questions

Problem 1ANFS

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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 - - - - - Required: Determine the reportable segments by performing revenue test. Note: Round your percentage answers to 1 decimal place.…
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