Homework

ACC-690 Module Three Quiz

Problem Six

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 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 expenses (savings) 21 12 (41) 27 31 (8)

General Corporate expenses 55

Unallocated operating costs 80

Determine the reportable segments by performing each applicable test. ( Figures are in thousands.) (Round your percentages answers to 1 decimal place. Enter your answers in thousands of dollars.)

Revenue test:

Segment Revenues Percentage Reported Or Not reported

Books %

Computers %

Maps %

Travel %

Finance %

Total %

Segment Revenues Expenses Profit Loss Reported Or Not reported

Books

Computers

Maps

Travel

Finance

Total

Assets test:

Segment Assets Percentage Reported Or Not reported

Books %

Computers %

Maps %

Travel %

Finance %

Total %