Please Solve all required with details and do not Give image format 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 eachsegment (in thousands) follows:Sales to outside partiesIntersegment transfersInterest income from outside parties.Interest income from intersegment loansOperating expensesInterest expenseTangible assetsIntangible assetsIntersegnent loans (debt)a. Revenue test:b. Profit or loss test:c. Asset test:Revenue Test Profit or LossTestPlastics$6,620Asset TestPlasticsMetalsLumberPaperFinanceTotal140Segment Revenues Percentageee4,154731,42784e%%%%%%Metals Lumber$ 2,294 $ 69616112631e1,732283,136391eEcru does not allocate its $1,310,000 in common expenses to the various segments.Perform testing procedures to determine Ecru's reportable operating segments.18e1,03663464Complete this question by entering your answers in the tabs below.Reported or NotReportedeePaper$ 4871380Show Transcribed Texe6392571160eFinance$0Perform revenue test procedure to determine Ecru's reportable operating segments. (Round your percentage ansdecimal place. Enter your answers in thousands of dollars.)0391892899164e694 Complete this question by entering your answers in the tabs below.Revenue Test Profit or LossTestPerform profit or loss test procedure to determine Ecru's reportable operating segments. (Enter your answers in thoudollars.)SegmentPlasticsMetalsLumberPaperFinanceTotalRevenue TestAsset TestRevenues Expenses Profit LossPlasticsMetalsComplete this question by entering your answers in the tabs below.LumberPaperFinanceTotalShow Transcribed TexProfit or LossTestAsset TestSegment Assets PercentagePerform asset test procedure to determine Ecru's reportable operating segments. (Round your percentage answers to 1decimal place. Enter your answers in thousands of dollars.)%%G%%Reported or NotReported%%Reported or NotReportedc

Under the revenue test when the revenues of one segment are higher than 10% of total revenues, it is…

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 Intersegnent loans (debt) Plastics Metals $6,620 $2,294 140 a. Revenue test: b. Profit or loss test: c. Asset test: e 4,154 73 1,427 84 161 31 e 1,732 28 3,136 391 Lumber $696 126 18 e 1,036 63 464 e e Ecru does not allocate its $1,310,000 in common expenses to the various segments. Perform testing procedures to determine Ecru's reportable operating segments. Paper $ 487 138 e 639 25 711 60 e Finance $ 189 28 99 164 694

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 Intersegnent loans (debt) Plastics Metals $6,620 $2,294 140 a. Revenue test: b. Profit or loss test: c. Asset test: e 4,154 73 1,427 84 161 31 e 1,732 28 3,136 391 Lumber $696 126 18 e 1,036 63 464 e e Ecru does not allocate its $1,310,000 in common expenses to the various segments. Perform testing procedures to determine Ecru's reportable operating segments. Paper $ 487 138 e 639 25 711 60 e Finance $ 189 28 99 164 694

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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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
Chevalier 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 $ 6,694 Metals $ 2,354 Lumber $ 711 148 173 138 Paper $ 422 150 Finance $ 0 0 0 34 21 0 42 0 0 0 0 201 4,214 76 1,762 1,066 654 31 31 66 28 102 1,501 87 3,196 524 771 179 0 403 0 0 63 0 0 0 706 Chevalier does not allocate its $1,460,000 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 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: 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…
Vincenzo Corporation is a manufacturer with four product lines. Below is some financial information about each of the four product lines. Required:Calculate, explain, and determine which of the segments are reportable based on the:a. Revenue testb. Operating profit (loss) testc. Identifiable assets testd. 75 percent combined revenue test
Lechon Company provided the following data for the current year: Sales Cost of goods sold Expenses Depreciation Income tax expense The entity has two major reportable segments, A and B. An analysis revealed that P1,000,000 of the total depreciation expense and P2,000,000 of the expenses are related to general corporate activities. The remaining expenses and sales are directly allocable to segment activities according to the following percentages: Sales Cost of goods sold Expenses Depreciation P60,000,000 28,000,000 14,000,000 4,000,000 4,000,000 Segment A 40% 35 40 40 Segment B 45% Others 15% 15 20 15 50 40 45 What amount should be reported as net income of Segment A?
To manage its operations, Leaf Company reports to top management on five different segments which are consolidated appropriately for the annual financial statements. Information about each segment included in the current year's consolidated statements appears in the table below (in 000's): Sales to outside parties Intersegment revenues Outside parties interest income Intersegment interest income Operating expenses Interest expense Tangible assets Intangib assets a. the revenue test, Tools $8,220 140 -0- -0- 5,090 80 1,620 90 Leaf Company has $305,000 of corporate expenses that it does not allocate to the segments. Carry out: c. the asset test b. the profit and loss test, and Batteries Adhesives Plastics $2,790 170 30 -0- 2,100 20 3,880 470 $830 130 10 -0- 1,390 170 890 -0- $450 140 -0- -0- 750 40 730 60 Finance to determine which segments are separately reportable. Clearly show the results of each test and your decision on each test. $-0- -0- 250 210 20 110 140 870
Select financial information for Beta Corp. for the fiscal years ending December 20X4 and 20X5 is as follows: please find the attached image 1 and 2 5. Beta Corp. has calculated the following asset management ratios: Asset management 20X5 20X4A/R turnover 3.3 5.1Inventory turnover 1.4 1.2 Based on the above ratios, which of the following statements is true? a) Beta was more efficient in collecting its credit sales from customers in 20X5 than in the prior year. It was also more efficient in turning inventory into sales than in the prior year.b) Beta was less efficient in collecting its credit sales from customers in 20X5 than in the prior year. It was also less efficient in turning inventory into sales than in the prior year.c) Beta was less efficient in collecting its credit sales from customers in 20X5 than in the prior year. However, it was more efficient in turning inventory into sales than in the prior year.d) Beta was more efficient in…
Grammatico Company has just completed its third year of operations. The income statement is as follows: Selected information from the balance sheet is as follows: Required: Note: Round answers to two decimal places. 1. Compute the times-interest-earned ratio. 2. Compute the debt ratio. 3. CONCEPTUAL CONNECTION Assume that the lower quartile, median, and upper quartile values for debt and times-interest-earned ratios in Grammaticos industry are as follows: How does Grammatico compare with the industrial norms? Does it have too much debt?
Margaret O'Flaherty, a portfolio manager for MCF Investments, is considering investing in Alpine Chemical 7% bonds, which mature in 10 years. She asks you to analyze the company to determine the riskiness of the bonds. Alpine Chemical Company Financial Statements Years Ended December 31, ($ in millions) 20X1 20X2 20X3 20X4 20X5 20X6 Assets Cash $ 55 $ 1,637 2,021 190 $ 2,143 1,293 157 249 $ 1,394 1,258 3,493 1,322 Accounts receivable 3,451 1,643 2,087 Inventories 945 Other current assets 17 27 55 393 33 171 5,097 6,181 Current assets 3,114 5,038 2,543 2,495 3,986 5,757 3,138 3,865 2,707 5,619 2,841 2,778 5,265 4,650 2,177 2,473 Gross fixed assets 7,187 3,893 3,465 2,716 Less: Accumulated depreciation Net fixed assets 2,619 3,294 Total assets $6,338 $5,609 $5,485 $6,605 $7,813 $8,559 Liabilities and net worth Notes payable Accounts payable $1,300 338 $ 525 2$ 750 $1,750 $1,900 673 638 681 743 978 Accrued liabilities 303 172 359 359 483 761 Current liabilities 1,501 1,985 1,997 1,457…
Revenue and expense data for the current calendar year for Tannenhill Company and for the electronics industry are as follows. Tannenhill’s data are expressed in dollars. The electronics industry averages are expressed in percentages. Please see the attachment for details: a. Prepare a common-sized income statement comparing the results of operations for Tannenhill Company with the industry average. Round to the nearest whole percentage.b. As far as the data permit, comment on significant relationships revealed by the comparisons.
Below are the two basic financial statements of Chiz Trading Company. You are tasked to prepare an analysis using Horizontal and Vertical Analysis of their two-dated financial statements. In addition to this you have been tasked to prepare financial ratios measuring the company’s: Liquidity Status Current Ratios Quick Asset Ratios Efficiency Status Asset Turnover Fixed Asset Turnover Inventory Turnover Days in Inventory Accounts Receivable Turnover Days in Receivable Profitability Status: Gross Profit margin Ratio Operating Income Ratio Net Profit Ratio Return on Assets Return on Equity
You have been provided with Leonard Corporation's partial Statement of Financial Position and the Statement of Comprehensive Income for the year ended December 31, 2021. Leonard Corporation Partial Statement of Financial Position For the Year Ended December 31, 2021 Accounts receivable -net Prepaid expenses Inventory Property, Plant & Equipment Accumulated Depreciation Accounts payable Income taxes payable Deferred revenue 2021 Sales....... Cost of goods sold.. Gross Margin. Selling, general and admin Depreciation expense $440,000 482,000 45,000 31,000 825,000 810,000 2,475,000 2,105,000 2020 (866,000) (823,000) 184,000 197,000 38,000 35,000 47,000 42,000 Leonard Corporation Statement of Comprehensive Income For the Year Ended December 31, 2021 Interest expense..... Gain on sale of PPE Net income before taxes Income Tax Expense Net income and comprehensive income... $3,560,000 1,950,000 1,610,000 (595,000) (320,000) (115,300) 55,400 635,100 95,300 .$539,800 Additional information:…