MEXICO Company and all its divisions are engaged in a merchandising business. The 2021 income statement of MEXICO showed the following: Sales to unaffiliated customers 20,000,000 Gain on sale of machinery 1,500,000 Operating expenses 15.000.000) Net income P. 6,500,000 In the process of determining the consolidated net income, intersegment sales of P3,000,000 were eliminated. What is the minimum amount of segment revenue to be reported by a division in order for it to be considered as a reportable segment under IFRS 8, Operating Segments?
MEXICO Company and all its divisions are engaged in a merchandising business. The 2021 income statement of MEXICO showed the following: Sales to unaffiliated customers 20,000,000 Gain on sale of machinery 1,500,000 Operating expenses 15.000.000) Net income P. 6,500,000 In the process of determining the consolidated net income, intersegment sales of P3,000,000 were eliminated. What is the minimum amount of segment revenue to be reported by a division in order for it to be considered as a reportable segment under IFRS 8, Operating Segments?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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