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Chevaller 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: Accounts Sales to outside parties Intersegment sales Interest income from outside parties Interest income from intersegment loans. Operating expenses Interest expense Tangible assets Intangible assets Intersegment loans (debt) Plastics $ 6,895 Metals $ 2,434 165 189 Lumber $ 751 154 Paper $ 462 Finance 166 $ e 0 8 42 29 50 8 8 8 0 217 4,374 84 1,842 1,146 694 39 39 74 20 110 1,581 95 в 3,276 604 851 219 419 71 0 722 Chevaller does not allocate its $1,380,000 in common expenses to the various segments. Required: a1. Perform revenue test procedure to determine Chevaller's reportable operating segments. a2. Perform profit or loss test procedure to determine Chevalier's reportable operating segments. a3. Perform asset test procedure to determine Chevallier's reportable operating segments. Complete this question by entering your answers in the tabs below. Revenue Test Profit or Loss Test Asset Test Perform revenue test procedure to determine Chevalier's reportable operating segments. Note: Round your percentage answers to 1 decimal place. Enter your answers in thousands of dollars. Segment Revenues Percentage Reported or Not Reported Plastics Metals % Lumber % Paper % Finance % Total $ 0 0.0 %

Chevaller 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: Accounts Sales to outside parties Intersegment sales Interest income from outside parties Interest income from intersegment loans. Operating expenses Interest expense Tangible assets Intangible assets Intersegment loans (debt) Plastics $ 6,895 Metals $ 2,434 165 189 Lumber $ 751 154 Paper $ 462 Finance 166 $ e 0 8 42 29 50 8 8 8 0 217 4,374 84 1,842 1,146 694 39 39 74 20 110 1,581 95 в 3,276 604 851 219 419 71 0 722 Chevaller does not allocate its $1,380,000 in common expenses to the various segments. Required: a1. Perform revenue test procedure to determine Chevaller's reportable operating segments. a2. Perform profit or loss test procedure to determine Chevalier's reportable operating segments. a3. Perform asset test procedure to determine Chevallier's reportable operating segments. Complete this question by entering your answers in the tabs below. Revenue Test Profit or Loss Test Asset Test Perform revenue test procedure to determine Chevalier's reportable operating segments. Note: Round your percentage answers to 1 decimal place. Enter your answers in thousands of dollars. Segment Revenues Percentage Reported or Not Reported Plastics Metals % Lumber % Paper % Finance % Total $ 0 0.0 %

Managerial Accounting: The Cornerstone of Business Decision-Making
Managerial Accounting: The Cornerstone of Business Decision-Making
7th Edition
ISBN:9781337115773
Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Chapter15: Financial Statement Analysis
Section: Chapter Questions
Problem 57P: Grammatico Company has just completed its third year of operations. The income statement is as...
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Chevaller 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: Accounts Sales to outside parties Intersegment sales Interest income from outside parties Interest income from intersegment loans. Operating expenses Interest expense Tangible assets Intangible assets Intersegment loans (debt) Plastics $ 6,895 Metals $ 2,434 165 189 Lumber $ 751 154 Paper $ 462 Finance 166 $ e 0 8 42 29 50 8 8 8 0 217 4,374 84 1,842 1,146 694 39 39 74 20 110 1,581 95 в 3,276 604 851 219 419 71 0 722 Chevaller does not allocate its $1,380,000 in common expenses to the various segments. Required: a1. Perform revenue test procedure to determine Chevaller's reportable operating segments. a2. Perform profit or loss test procedure to determine Chevalier's reportable operating segments. a3. Perform asset test procedure to determine Chevallier's reportable operating segments. Complete this question by entering your answers in the tabs below. Revenue Test Profit or Loss Test Asset Test Perform revenue test procedure to determine Chevalier's reportable operating segments. Note: Round your percentage answers to 1 decimal place. Enter your answers in thousands of dollars. Segment Revenues Percentage Reported or Not Reported Plastics Metals % Lumber % Paper % Finance % Total $ 0 0.0 % <Revenue Test Profit or Loss Test >
Transcribed Image Text:Chevaller 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: Accounts Sales to outside parties Intersegment sales Interest income from outside parties Interest income from intersegment loans. Operating expenses Interest expense Tangible assets Intangible assets Intersegment loans (debt) Plastics $ 6,895 Metals $ 2,434 165 189 Lumber $ 751 154 Paper $ 462 Finance 166 $ e 0 8 42 29 50 8 8 8 0 217 4,374 84 1,842 1,146 694 39 39 74 20 110 1,581 95 в 3,276 604 851 219 419 71 0 722 Chevaller does not allocate its $1,380,000 in common expenses to the various segments. Required: a1. Perform revenue test procedure to determine Chevaller's reportable operating segments. a2. Perform profit or loss test procedure to determine Chevalier's reportable operating segments. a3. Perform asset test procedure to determine Chevallier's reportable operating segments. Complete this question by entering your answers in the tabs below. Revenue Test Profit or Loss Test Asset Test Perform revenue test procedure to determine Chevalier's reportable operating segments. Note: Round your percentage answers to 1 decimal place. Enter your answers in thousands of dollars. Segment Revenues Percentage Reported or Not Reported Plastics Metals % Lumber % Paper % Finance % Total $ 0 0.0 % <Revenue Test Profit or Loss Test >
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