Question
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 | Metals | Lumber | Paper | Finance | |||||||||||
Sales to outside parties | $ | 6,669 | $ | 2,319 | $ | 706 | $ | 417 | 0 | ||||||
Intersegment transfers | 141 | 166 | 131 | 143 | 0 | ||||||||||
Interest income from outside parties | 0 | 33 | 20 | 0 | $ | 41 | |||||||||
Interest income from intersegment loans | 0 | 0 | 0 | 0 | 194 | ||||||||||
Operating expenses | 4,194 | 1,752 | 1,056 | 649 | 30 | ||||||||||
Interest expense | 75 | 30 | 65 | 24 | 101 | ||||||||||
Tangible assets | 1,466 | 3,161 | 489 | 736 | 174 | ||||||||||
Intangible assets | 86 | 396 | 0 | 62 | 0 | ||||||||||
Intersegment loans (debt) | 0 | 0 | 0 | 0 | 699 | ||||||||||
Ecru does not allocate its $1,320,000 in common expenses to the various segments. |
Perform testing procedures to determine Ecrus reportable operating segments. (Round your percentage answers to 2 decimal places. Enter your answers in thousands of dollars.) THESE ARE NOT THE RIGHT ANSWERS FOR THE PERCENTAGES AND FINIANCE. THIRD TIME SOMEONE ANSWERED INCORRECTLY
1) Asset Test Please fill in the empty answers
|
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started