Vincent Ltd operates solely in Western Australia and the chief operating decision maker has identified five operating segments: Mining, Insurance, Retailing, Manufacturing and Transport. The following information is provided to you for the year ending 30 June 2012:
|
|
Segment
Revenue
($000)
|
Segment
Result
($000)
|
Segment
Assets
($000)
|
|
Mining
|
11 100
|
2 835
|
18 000
|
|
Insurance
|
4 950
|
-7 800
|
7 500
|
|
Retailing
|
2 100
|
750
|
3 000
|
|
Manufacturing
|
600
|
240
|
9 000
|
|
Transport
|
6 960
|
3 525
|
7 500
|
Additional Information
Thirty per cent of the revenue earnt by the Transport segment was generated from intersegment sales from the Mining segment.
Required
Determine which of the five operating segments are reportable using the guidelines provided in the relevant accounting standard and offer any explanations as required. Show all workings.