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 | $ | 6,369 | $ | 2,169 | $ | 646 | $ | 357 | 0 | |||||||
Intersegment transfers | 111 | 136 | 101 | 113 | 0 | |||||||||||
Interest income from outside parties | 0 | 21 | 8 | 0 | $ | 29 | ||||||||||
Interest income from intersegment loans | 0 | 0 | 0 | 0 | 164 | |||||||||||
Operating expenses | 3,954 | 1,632 | 936 | 589 | 18 | |||||||||||
Interest expense | 63 | 18 | 53 | 30 | 89 | |||||||||||
Tangible assets | 1,316 | 3,011 | 339 | 586 | 114 | |||||||||||
Intangible assets | 74 | 366 | 0 | 50 | 0 | |||||||||||
Intersegment loans (debt) | 0 | 0 | 0 | 0 | 669 | |||||||||||
Ecru does not allocate its $1,260,000 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.) I AM FILLING IN THE ANSWERS THAT I KNOW I HAVE CORRECT PLEASE HELP WITH THE BLANKS!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! Revenue Test: Segment Revenue Percentages Reported/not reported Plastic 6480 ______ Reportable Metal 2326 ________ Reportable Paper _____ __________ Not Lumber ______ _________ Not Finance __________ _________ Not 2) Profit or loss test: Segment Revenue Expense Profit Loss Reported/Not Plastic 6480 ____ ------ ______ Report Metal 2326 _____ ______ ______ Report Paper ____ _____ ______ _____ Not Lumber ____ _____ _____ _____ Not Finance _____ _______ ________ ______ Not
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