Question 4 [10 marks) (a) For each of the following material after reporting period ovonts of Parramatta City Lid state whether adjustment of discosure is required in the 30 June 2019 financial statements, you reason(s) Man required, state the nature of the adjustment 0 () 20 July 2019 one of the company's four offices was damaged by a flood Insurance will not cover the cost of repairs, estimated at $180,000 (2 marks) 21 July 2019 a debitor owing $80 000 was declared insolvent the debtor had not made any payments in the last three months and half of the debt had already boon treated ascorbi cott at your ord. 12 marks) b) The internal reports of Sheila Ltd reveal the following divisional information Segments Profit/(Loss) Assets Liabilities Consulting Travel Entertainment Accommodation Revenue (all external) 98 000 13 000 14 000 17 000 57 000 17 000 (2000) (3 000) 61 000 31 000 14 000 41000 147 000 35 000 21 000 9000 18.000 142 000 65 000 83 000 Use the materiality criterion in AASB 8 Operating Segments to determine which of the divisions are reporting business segments Show all supporting information clearly identifying why (6 marks)