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MegaStores Ltd owns a number of department stores with numerous retail operations. On 30 June 2021, MegaStores Ltd has identified the following operating segments.
MegaStores Ltd owns a number of department stores with numerous retail operations. On 30 June 2021, MegaStores Ltd has identified the following operating segments. Segment Electronics Green Grocer Bakery Textile Multimedia Revenue ($000) Printed Materials $6,332 $5,294 -$2,506 Total External Internal $19,524 Nil $31,268 Nil Profit or Loss ($000) $22,468 $2,200 $19,092 $4,640 $3,128 $35,306 Nil -$6,024 $10,221 Assets ($000) $43,210 $125,024 $36,552 $53,153 -$4,472 $5,122 $19,128 $200,005 $119,538 $10,622 $61,770 $436,735 Required: Which of the operating segments would be reportable under the criteria identified in AASB 8? In your answer, apply all threshold tests prescribed by AASB 8 before drawing your conclusion. Support your answer with references to specific paragraphs in the relevant accounting standard. You must show all supporting calculations.
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To determine which operating segments would be reportable under the criteria identified in AASB 8 Australian Accounting Standard Board 8 we need to apply the threshold tests specified in the standard ...Get Instant Access to Expert-Tailored Solutions
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