
Disclosures: The additional information which is attached to the entity’s financial statements and usually has an explanation of activities that has significant effects on the results of the financial statement is known as disclosures.
(a1) To explain: To explain the given situation with reason.
Given information: All the information related to S Corp. is provided in the question statement.
(a2) To state: To state the items in the quarterly report along with its justification.
Given information: All the information related to S Corp. is provided in the question statement.
(b) To determine: To determine the minimum disclosures in the quarterly reports.
Given information: All the information related to S Corp. is provided in the question statement.

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Chapter 24 Solutions
EBK INTERMEDIATE ACCOUNTING, VOLUME 2 S
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