Question 1

The following was extracted from the accounting records of C Limited for the year ended 31 December 2017 (this was the only information given to the Chief Operating Decision Maker):

	Segment A	Segment B	Head Office	Note:
	P	P	P	Information of
Sales	10,650,000	12,400,000	-	segments
				A & B is to be
Profit/(loss) before tax	5,565,000	6,124,000	(633,000)	disclosed
Income tax expense	(1,474,200)	(1,714,720)	177,240
Profit/(loss) after tax	4,090,800	4,409,280	(455,760)

1. Segment B sold goods to the value of P500 000 to Segment A.
2. Segment A sold all the goods to external customers and therefore had no stock on hand
3. Profit of Segment A includes a dividend received from Segment B of P300 000
4. Profit of Segment A includes interest paid on loan from Segment B of P50 000. Segment B accounted for P50 000 as interest received.
5. The tax rate was 28%

The following is an extract form the financial statements of C Limited

P

Revenue 22,550,000

Profit before tax 10,756,000

Income tax expense 3,011,680

Profit after tax 7,744,320

Required: Prepare the segment information of C Limited as it would appear in the notes for the year ended 31 December 2017. Your answer should comply with IFRS 8.