The reportable segment is the course of action used to decide which of the operating segments are separately reportable, a separately reportable segment requires separate supplemental disclosures, based on management’s arrangement of these operating segments for the purpose of internal evaluation of the entity’s financial position and operating performance. The foreign operations must be reported separately or not

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Answer 1

Question

Chapter 13, Problem 13.20P

a

To determine

Introduction: The reportable segment is the course of action used to decide which of the operating segments are separately reportable, a separately reportable segment requires separate supplemental disclosures, based on management’s arrangement of these operating segments for the purpose of internal evaluation of the entity’s financial position and operating performance.

The foreign operations must be reported separately or not

b

To determine

Introduction: The reportable segment is the course of action used to decide which of the operating segments are separately reportable, a separately reportable segment requires separate supplemental disclosures, based on management’s arrangement of these operating segments for the purpose of internal evaluation of the entity’s financial position and operating performance.

The foreign operations must be reported separately or not using materiality threshold

c

To determine

Introduction: The reportable segment is the course of action used to decide which of the operating segments are separately reportable, a separately reportable segment requires separate supplemental disclosures, based on management’s arrangement of these operating segments for the purpose of internal evaluation of the entity’s financial position and operating performance.

The information about the company’s domestic and foreign operations as required by ASC280

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I am trying to find the accurate solution to this general accounting problem with the correct explanation.

What is company net income?

Innovative Training Solutions is a business coaching firm. At the end of its accounting period, December 31, 2022, Innovative had assets of $720,000 and liabilities of $230,000. Determine the net income (or loss) during 2023, assuming that as of December 31, 2023, assets were $910,000, liabilities were $160,000, and no additional capital stock was issued or dividends paid. Provide answer

Answer 2

Question

Chapter 13, Problem 13.20P

a

To determine

Introduction: The reportable segment is the course of action used to decide which of the operating segments are separately reportable, a separately reportable segment requires separate supplemental disclosures, based on management’s arrangement of these operating segments for the purpose of internal evaluation of the entity’s financial position and operating performance.

The foreign operations must be reported separately or not

b

To determine

Introduction: The reportable segment is the course of action used to decide which of the operating segments are separately reportable, a separately reportable segment requires separate supplemental disclosures, based on management’s arrangement of these operating segments for the purpose of internal evaluation of the entity’s financial position and operating performance.

The foreign operations must be reported separately or not using materiality threshold

c

To determine

Introduction: The reportable segment is the course of action used to decide which of the operating segments are separately reportable, a separately reportable segment requires separate supplemental disclosures, based on management’s arrangement of these operating segments for the purpose of internal evaluation of the entity’s financial position and operating performance.

The information about the company’s domestic and foreign operations as required by ASC280

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Answer 3

Question

Chapter 13, Problem 13.20P

a

To determine

Introduction: The reportable segment is the course of action used to decide which of the operating segments are separately reportable, a separately reportable segment requires separate supplemental disclosures, based on management’s arrangement of these operating segments for the purpose of internal evaluation of the entity’s financial position and operating performance.

The foreign operations must be reported separately or not

b

To determine

Introduction: The reportable segment is the course of action used to decide which of the operating segments are separately reportable, a separately reportable segment requires separate supplemental disclosures, based on management’s arrangement of these operating segments for the purpose of internal evaluation of the entity’s financial position and operating performance.

The foreign operations must be reported separately or not using materiality threshold

c

To determine

Introduction: The reportable segment is the course of action used to decide which of the operating segments are separately reportable, a separately reportable segment requires separate supplemental disclosures, based on management’s arrangement of these operating segments for the purpose of internal evaluation of the entity’s financial position and operating performance.

The information about the company’s domestic and foreign operations as required by ASC280

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Answer 4

Question

Chapter 13, Problem 13.20P

a

To determine

Introduction: The reportable segment is the course of action used to decide which of the operating segments are separately reportable, a separately reportable segment requires separate supplemental disclosures, based on management’s arrangement of these operating segments for the purpose of internal evaluation of the entity’s financial position and operating performance.

The foreign operations must be reported separately or not

b

To determine

Introduction: The reportable segment is the course of action used to decide which of the operating segments are separately reportable, a separately reportable segment requires separate supplemental disclosures, based on management’s arrangement of these operating segments for the purpose of internal evaluation of the entity’s financial position and operating performance.

The foreign operations must be reported separately or not using materiality threshold

c

To determine

Introduction: The reportable segment is the course of action used to decide which of the operating segments are separately reportable, a separately reportable segment requires separate supplemental disclosures, based on management’s arrangement of these operating segments for the purpose of internal evaluation of the entity’s financial position and operating performance.

The information about the company’s domestic and foreign operations as required by ASC280

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Answer 5

Chapter 13, Problem 13.20P

a

To determine

Introduction: The reportable segment is the course of action used to decide which of the operating segments are separately reportable, a separately reportable segment requires separate supplemental disclosures, based on management’s arrangement of these operating segments for the purpose of internal evaluation of the entity’s financial position and operating performance.

The foreign operations must be reported separately or not

b

To determine

Introduction: The reportable segment is the course of action used to decide which of the operating segments are separately reportable, a separately reportable segment requires separate supplemental disclosures, based on management’s arrangement of these operating segments for the purpose of internal evaluation of the entity’s financial position and operating performance.

The foreign operations must be reported separately or not using materiality threshold

c

To determine

Introduction: The reportable segment is the course of action used to decide which of the operating segments are separately reportable, a separately reportable segment requires separate supplemental disclosures, based on management’s arrangement of these operating segments for the purpose of internal evaluation of the entity’s financial position and operating performance.

The information about the company’s domestic and foreign operations as required by ASC280

Answer 6

Chapter 13, Problem 13.20P

a

To determine

Introduction: The reportable segment is the course of action used to decide which of the operating segments are separately reportable, a separately reportable segment requires separate supplemental disclosures, based on management’s arrangement of these operating segments for the purpose of internal evaluation of the entity’s financial position and operating performance.

The foreign operations must be reported separately or not

Answer 7

Chapter 13, Problem 13.20P

a

To determine

Introduction: The reportable segment is the course of action used to decide which of the operating segments are separately reportable, a separately reportable segment requires separate supplemental disclosures, based on management’s arrangement of these operating segments for the purpose of internal evaluation of the entity’s financial position and operating performance.

The foreign operations must be reported separately or not

Answer 8

b

To determine

Introduction: The reportable segment is the course of action used to decide which of the operating segments are separately reportable, a separately reportable segment requires separate supplemental disclosures, based on management’s arrangement of these operating segments for the purpose of internal evaluation of the entity’s financial position and operating performance.

The foreign operations must be reported separately or not using materiality threshold

Answer 9

b

To determine

Introduction: The reportable segment is the course of action used to decide which of the operating segments are separately reportable, a separately reportable segment requires separate supplemental disclosures, based on management’s arrangement of these operating segments for the purpose of internal evaluation of the entity’s financial position and operating performance.

The foreign operations must be reported separately or not using materiality threshold

Answer 10

c

To determine

Introduction: The reportable segment is the course of action used to decide which of the operating segments are separately reportable, a separately reportable segment requires separate supplemental disclosures, based on management’s arrangement of these operating segments for the purpose of internal evaluation of the entity’s financial position and operating performance.

The information about the company’s domestic and foreign operations as required by ASC280

Answer 11

c

To determine

Introduction: The reportable segment is the course of action used to decide which of the operating segments are separately reportable, a separately reportable segment requires separate supplemental disclosures, based on management’s arrangement of these operating segments for the purpose of internal evaluation of the entity’s financial position and operating performance.

The information about the company’s domestic and foreign operations as required by ASC280

Answer 12

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Answer 13

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Answer 14

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Answer 15

Ch. 13 - Prob. 13.1Q Ch. 13 - Prob. 13.2Q Ch. 13 - What are the three 10 percent significance tests...Ch. 13 - Prob. 13.4Q Ch. 13 - A company has 10 industry segments, of which the...Ch. 13 - Prob. 13.6Q Ch. 13 - Prob. 13.7Q Ch. 13 - Prob. 13.8Q Ch. 13 - Prob. 13.9Q Ch. 13 - Prob. 13.10Q

Solution Summary: The author explains the reportable segment, which determines which of the operating segments are separate and whether the foreign operations should be reported separately.

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Chapter 13 Solutions