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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
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 $ 6,920 168 Lumber $ 756 156 3e Paper $ 467 168 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) Metals $ 2,444 191 43 a 1,852 40 3,286 421 0 Finance $ @ 51 219 49 111 4,394 85 1,591 96 1,156 75 614 B 3 699 19 861 72 224 724 Ecru does not allocate its $1.370,000 in common expenses to the various segments. Perform testing procedures to determine Ecru's reportable operating segments. 4. Revenue test: b. Profit or loss test: c. Asset test: Complete this question by entering your answers in the tabs below. Revenue Test Profit or Loss Test Asset Test Perform revenue test procedure to determine Ecru's reportable operating segments. (Round your percentage answers to 1 decimal place. Enter your answers in thousands of dollars.) Segment Percentage Reported or Not Reported Revenues Plastics 96 Metals Lumber Paper Finance Total 96 % 96 S 0 0.01% Complete this question by entering your answers in the tabs below. Revenue Test Profit or Loss Test Asset Test Perform profit or loss test procedure to determine Ecru's reportable operating segments. (Enter your answers in thousands of dollars.) Segment Revenues Expenses Profit Reported or Not Loss Reported Plastics Metals Lumber Paper Finance Total S 0 $ 0 Complete this question by entering your answers in the tabs below. Revenue Test Profit or Loss Test Asset Test 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.) Segment Reported or Not Percentage Reported Plastics Metals Assets 96 96 9% Lumber Paper 96 Finance 96 0.0 % Total S 0
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