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 expense (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.)   Revenue test: Profit or loss test: Asset test:

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: Sales to outside parties Intersegment transfers Interest income from outside parties Interest income from intersegment loans Operating expenses Interest expense Tangible assets Intangible assets Intersegment loans (debt) Plastics $6,855 163 a. Revenue test: b. Profit or loss test: c. Asset test: 0 0 4,334 82 1,577 93 0 Metals $2,414 185 40 0 1,822 37 3,256 415 0 Lumber $ 741 150 27 0 1, 126 72 584 0 0 Ecru does not allocate its $1,400,000 in common expenses to the various segments. Perform testing procedures to determine Ecru's reportable operating segments. Paper Finance $ 452 162 0 0 684 22 831 69 0 0 48 213 37 108 209 0 718

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 $ 6,325     $ 2,144     $ 636     $ 347     $ 0   Intersegment transfers   108       131       96       108       0   Interest income from outside parties   0       19       6       0       27   Interest income from intersegment loans   0       0       0       0       159   Operating expenses   3,914       1,612       916       579       16   Interest expense   61       16       51       31       87   Tangible assets   1,291       2,986       314       561       104   Intangible assets   72       361       0       48       0   Intersegment loans (debt)   0       0       0       0       664     Ecru does not allocate its $1,250,000 in…

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: Sales to outside parties Intersegment transfers Interest income from outside parties Interest income from intersegment loans Operating expenses Interest expense Tangible assets Intangible assets Intersegment loans (debt.) Plastics $6,870 a. Revenue test: 163 0 0 4,354 83 1,567 94 Metals $2,419 186 41 0 1,832 38 3,261 416 0 Lumber $ 746 151 28 0 1,136 73 589 0 0 Ecru does not allocate its $1,360,000 in common expenses to the various segments. " Perform testing procedures to determine Ecru's reportable operating segments. Paper Finance $ 457 $0 163 0 0 689 20 836 70 0 0 49 214 38 109 214 0 719

EMM, Inc. has the following balance sheet:   EMM, Incorporated Balance Sheet as of 12/31/X0 Assets   Liabilities and Equity Cash $ 1,200   Accounts payable $ 4,900 Accounts receivable   8,900   Bank note payable   7,700 Inventory   6,100         Long-term assets   4,400   Equity   8,000   $ 20,600     $ 20,600     It has estimated the following relationships between sales and the various assets and liabilities that vary with the level of sales:   Accounts receivable = $3,560 + 0.35 Sales, Inventory = $2,356 + 0.28 Sales, Accounts payable = $1,449 + 0.20 Sales.   If the firm expects sales of $27,000, what are the forecasted levels of the balance sheet items above? Round your answers to the nearest dollar. Accounts receivable: $   Inventory: $   Accounts payable: $   Will the expansion in accounts payable cover the expansion in inventory and accounts receivable? Round your answers to the nearest dollar. The expansion in accounts payable of $    the total…

TB MC Qu. 17-138 (Algo) Refer to the following selected financial... Refer to the following selected financial information from Texas Electronics. Compute the company's current ratio for Year 2. Year 2 Year 1 Cash Short-term investments Accounts receivable, net Merchandise inventory $ 38,200 $ 32,950 97,000 63,500 89,000 83,000 124,500 128,500 Prepaid expenses 12,800 10,400 Plant assets 391,500 341,500 Accounts payable 109,900 111,300 ices Net sales 714,500 679,500 Cost of goods sold 393,500 378,500 Multiple Choice 3.29 3.17

Saved He Chevalier Company has identified five industry segments: plastics, metals, lumber, paper, and finance. t 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 $ 6,625 Metals $ 2,334 Lumber $ 701 Paper $ 412 Finance 146 169 134 146 $ 0 0 0 32 19 0 40 0 0 0 0 197 4,174 74 1,742 1,046 644 29 29 64 30 100 1,467 85 0 3,176 504 751 169 399 0 0 61 0 0 0 702 Chevalier does not allocate its $1,480,000 in common expenses to the various segments. Required: a1. Perform revenue test procedure to determine Chevalier's reportable operating segments. a2. Perform profit or loss test procedure to determine Chevalier's reportable operating segments. a3. Perform…

Selected financial data for Wilmington Corporation is presented below. WILMINGTON CORPORATION     Balance Sheet       Dec. 31, Year 7 Dec. 31, Year 6 Current Assets     Cash and cash equivalents $519,159 $274,579 Marketable securities 166,106 187,064 Accounts receivable (net) 232,548 260,190 Inventories 382,044 352,022 Prepaid expenses 49,832 22,958 Other current assets 83,053 85,029 Total Current Assets 1,432,742 1,181,842 Property, plant and equipment 1,384,217 625,421 Long-term investment 568,003 425,000 Total Assets $3,384,962 $2,232,263 Current Liabilities     Short-term borrowings $306,376 $170,419 Current portion of long-term debt 155,000 168,000 Accounts payable 228,700 257,631 Accrued liabilities 246,292 150,285 Income taxes payable 87,962 161,020 Total Current Liabilities 1,024,330 907,355 Long-term debt 500,000 300,000 Deferred income taxes 193,515 236,164 Total Liabilities 1,717,845 1,443,519 Common stock $425,250…

Classifying Items Related to Receivables and Payables in a Balance Sheet When examining the accounts of WholeFoods Company, we ascertain that balances relating to both receivables and payables are included in a single controlling account (called receivables), which has an $7,200 debit balance. An analysis of the details of this account reveals the following.   Items Debit Credit Accounts receivable—customers $16,000   Accounts receivable—officers (current collection expected) 1,000   Travel advances to sales staff 400   Accounts payable for merchandise   $7,700 Unpaid salaries   1,320 Credit balances in customer accounts (accounts receivable)   800 Cash received in advance from customers for goods not yet shipped   180 Allowance for doubtful accounts, adjusted   200   Indicate how each of the items should be reported on WholeFoods Company’s balance sheet.   Some accounts below may have a zero balance. Do not use negative signs in your answers. Cash and…

Livro Company has three operating segments with the following information:       Books Calendars Bags Sales to outsiders $12000 $9000 $8000 Inter segment transfers 1000 500 1500 In addition, corporate headquarters generates revenues of $2,000.What is the minimum amount of revenue that each of these segments must generate to be considered separately reportable? Choose the correct.a. $2,900b. $3,200c. $3,300d. $3,400