Petersen Ltd operates solely within Queensland. It is involved in four operating segments, namely entertainment, clothing, food

Question:

Petersen Ltd operates solely within Queensland. It is involved in four operating segments, namely entertainment, clothing, food and agriculture. Information pertaining to these segments is provided below.

Additional information

a. Income tax expense for the year is $40 000.

b. There are no investments in associates.

c. Across the entire entity there was only one customer that accounted for 10 percent or more of the entity’s total revenues. This customer  accounted for revenue totalling $100 000 and made its purchases from the entertainment

d. operating segment.


REQUIRED

Determine the reportable segments of Petersen Ltd, and prepare the appropriate segment disclosure note in accordance with AASB 8.

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