Continuing operations: Continuing operations section of the income statement includes the revenues and expenses related to normal & frequent operations of the business. In other words we can say that incomes & expenses which are result of normal operations of the business are reported under this section of the income statement. Discontinued segment: Discontinued segment section of the income statement includes the gains & losses from selling a segment of the business or closing down a particular segment of the business. In other words we can say that when a business entity closes a particular segment then income or loss of such segment is reported under this section of the income statement. Reporting of items of income statement under suitable section

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Answer 1

Question

Chapter 17, Problem 17E

To determine

Concept Introduction:

Continuing operations:

Continuing operations section of the income statement includes the revenues and expenses related to normal & frequent operations of the business. In other words we can say that incomes & expenses which are result of normal operations of the business are reported under this section of the income statement.

Discontinued segment:

Discontinued segment section of the income statement includes the gains & losses from selling a segment of the business or closing down a particular segment of the business. In other words we can say that when a business entity closes a particular segment then income or loss of such segment is reported under this section of the income statement.

Reporting of items of income statement under suitable section

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Answer 2

Question

Chapter 17, Problem 17E

To determine

Concept Introduction:

Continuing operations:

Continuing operations section of the income statement includes the revenues and expenses related to normal & frequent operations of the business. In other words we can say that incomes & expenses which are result of normal operations of the business are reported under this section of the income statement.

Discontinued segment:

Discontinued segment section of the income statement includes the gains & losses from selling a segment of the business or closing down a particular segment of the business. In other words we can say that when a business entity closes a particular segment then income or loss of such segment is reported under this section of the income statement.

Reporting of items of income statement under suitable section

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Answer 3

Question

Chapter 17, Problem 17E

To determine

Concept Introduction:

Continuing operations:

Continuing operations section of the income statement includes the revenues and expenses related to normal & frequent operations of the business. In other words we can say that incomes & expenses which are result of normal operations of the business are reported under this section of the income statement.

Discontinued segment:

Discontinued segment section of the income statement includes the gains & losses from selling a segment of the business or closing down a particular segment of the business. In other words we can say that when a business entity closes a particular segment then income or loss of such segment is reported under this section of the income statement.

Reporting of items of income statement under suitable section

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Answer 4

Question

Chapter 17, Problem 17E

To determine

Concept Introduction:

Continuing operations:

Continuing operations section of the income statement includes the revenues and expenses related to normal & frequent operations of the business. In other words we can say that incomes & expenses which are result of normal operations of the business are reported under this section of the income statement.

Discontinued segment:

Discontinued segment section of the income statement includes the gains & losses from selling a segment of the business or closing down a particular segment of the business. In other words we can say that when a business entity closes a particular segment then income or loss of such segment is reported under this section of the income statement.

Reporting of items of income statement under suitable section

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Answer 5

Chapter 17, Problem 17E

To determine

Concept Introduction:

Continuing operations:

Continuing operations section of the income statement includes the revenues and expenses related to normal & frequent operations of the business. In other words we can say that incomes & expenses which are result of normal operations of the business are reported under this section of the income statement.

Discontinued segment:

Discontinued segment section of the income statement includes the gains & losses from selling a segment of the business or closing down a particular segment of the business. In other words we can say that when a business entity closes a particular segment then income or loss of such segment is reported under this section of the income statement.

Reporting of items of income statement under suitable section

Answer 6

Chapter 17, Problem 17E

To determine

Concept Introduction:

Continuing operations:

Continuing operations section of the income statement includes the revenues and expenses related to normal & frequent operations of the business. In other words we can say that incomes & expenses which are result of normal operations of the business are reported under this section of the income statement.

Discontinued segment:

Discontinued segment section of the income statement includes the gains & losses from selling a segment of the business or closing down a particular segment of the business. In other words we can say that when a business entity closes a particular segment then income or loss of such segment is reported under this section of the income statement.

Reporting of items of income statement under suitable section

Answer 7

Chapter 17, Problem 17E

To determine

Concept Introduction:

Continuing operations:

Continuing operations section of the income statement includes the revenues and expenses related to normal & frequent operations of the business. In other words we can say that incomes & expenses which are result of normal operations of the business are reported under this section of the income statement.

Discontinued segment:

Discontinued segment section of the income statement includes the gains & losses from selling a segment of the business or closing down a particular segment of the business. In other words we can say that when a business entity closes a particular segment then income or loss of such segment is reported under this section of the income statement.

Reporting of items of income statement under suitable section

Answer 8

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Answer 9

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Answer 10

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Answer 11

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