Question
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 | $ | 1,749 | $ | 194 | $ | 759 | $ | 449 | $ | 347 | $ | 0 | |||||||||||
Intersegment sales | 571 | 45 | 294 | 60 | 172 | 0 | |||||||||||||||||
Interest incomeexternal | 142 | 84 | 0 | 0 | 0 | 58 | |||||||||||||||||
Interest incomeintersegment loans | 168 | 0 | 0 | 0 | 0 | 168 | |||||||||||||||||
Assets | 3,747 | 260 | 1,483 | 302 | 357 | 1,345 | |||||||||||||||||
Operating expenses | 1,568 | 136 | 872 | 295 | 211 | 54 | |||||||||||||||||
Expensesintersegment sales | 272 | 91 | 72 | 42 | 67 | 0 | |||||||||||||||||
Interest expenseexternal | 128 | 0 | 0 | 0 | 0 | 128 | |||||||||||||||||
Interest expenseintersegment loans | 231 | 42 | 92 | 59 | 38 | 0 | |||||||||||||||||
Income tax expense (savings) | 150 | 66 | (20 | ) | 81 | 85 | (62 | ) | |||||||||||||||
General corporate expenses | 109 | ||||||||||||||||||||||
Unallocated operating costs | 134 | ||||||||||||||||||||||
Determine the reportable segments by performing each applicable test. (Figures are in thousands.)
-
Revenue test:
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Profit or loss test:
-
Asset test:
- evenue Test
- Profit or Loss Test
- Asset Test
Determine the reportable segments by performing revenue test. (Round your percentage answers to 1 decimal place. Enter your answers in thousands of dollars.)
REVENUE TEST
|
- PROFIT OR LOSS
- Profit or Loss Test
- Asset Test
-
Determine the reportable segments by performing profit or loss test. (Enter your answers in thousands of dollars.)
Segment Revenues Expenses Profit Loss Reported or Not Reported Books Computers Maps Travel Finance Total $0 $0 $0 $0 - ASSET TEST
- Asset Test
-
Determine the reportable segments by performing asset test. (Round your percentage answers to 1 decimal place. Enter your answers in thousands of dollars.)
Segment Assets Percentage Reported or Not Reported Books % Computers % Maps % Travel % Finance % Total $0 0.0 %
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