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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
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 | $ | 1,718 | $ | 182 | $ | 748 | $ | 445 | $ | 343 | $ | 0 | |||||||||||
Intersegment sales | 547 | 41 | 286 | 56 | 164 | 0 | |||||||||||||||||
Interest incomeexternal | 131 | 77 | 0 | 0 | 0 | 54 | |||||||||||||||||
Interest incomeintersegment loans | 164 | 0 | 0 | 0 | 0 | 164 | |||||||||||||||||
Assets | 3,683 | 252 | 1,463 | 294 | 349 | 1,325 | |||||||||||||||||
Operating expenses | 1,544 | 132 | 864 | 291 | 207 | 50 | |||||||||||||||||
Expensesintersegment sales | 256 | 87 | 68 | 38 | 63 | 0 | |||||||||||||||||
Interest expenseexternal | 124 | 0 | 0 | 0 | 0 | 124 | |||||||||||||||||
Interest expenseintersegment loans | 215 | 38 | 88 | 55 | 34 | 0 | |||||||||||||||||
Income tax expense (savings) | 130 | 58 | (24 | ) | 73 | 77 | (54 | ) | |||||||||||||||
General corporate expenses | 101 | ||||||||||||||||||||||
Unallocated operating costs | 126 | ||||||||||||||||||||||
Determine the reportable segments by performing each applicable test. (Figures are in thousands.)
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Revenue test:
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Profit or loss test:
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Asset test:
Please show your work!!
Revenue Test Profit or Loss Test Asset Test Determine the reportable segments by performing profit or loss test. (Enter your answers in thousands of dolla Segment Revenues Expenses Profit Loss $ Books Computers Maps Travel Finance 300 1,034 501 257 $ 43 1,020 % 14 X 384 X 117 X 304 203 Reported or Not Reported Not reportable Reportable Reportable Reportable Reportable 507 218 174 44 $ $ Total $ 421 $ 0 2,560 2,139
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