Question
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
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 | Revenue ($000) | Profit or Loss ($000) | Assets ($000) | |
| External | Internal |
|
|
Electronics | $19,524 | Nil | -$6,024 | $10,221 |
Printed Materials | $6,332 | $5,294 | -$2,506 | $43,210 |
Green Grocer | $22,468 | $2,200 | $19,092 | $125,024 |
Bakery | $31,268 | Nil | $36,552 | $53,153 |
Textile | $4,640 | $3,128 | -$4,472 | $5,122 |
Multimedia | $35,306 | Nil | $19,128 | $200,005 |
Total | $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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