Reference no: EM131248325
On December 31, 20X0, Greer Co. entered into an agreement to sell its Hart segment's assets. On that date, Greer estimated the gain from the disposition of the assets in 20X1 would be $700,000 and Hart's 20X1 operating losses would be $200,000. Hart's actual operating losses were $300,000 in both 20X0 and 20X1, and the actual gain on disposition of Hart's assets in 20X1 was $650,000. Disregarding income taxes, what net gain (loss) should be reported for discontinued operations in Greer's comparative 20X1 and 20X0 income statements?
a. 20X1: $350,000; 20X0: $(300,000)
b. 20X1: $(150,000); 20X0: $200,000
c. 20X1: $50,000; 20X0: $(300,000)
d. 20X1: $0; 20X0: $50,000
2. When a company has decided to discontinue operations of a component unit, the loss on disposal should
a. Exclude operating losses during the period.
b. Include operating losses of the current period.
c. Be an operating item.
d. Be an extraordinary item.
3. Which of the following items is not subject to the application of intra-period income tax allocation?
a. Income from continuing operations.
b. Operating income.
c. Discontinued operations.
d. Components of other comprehensive income.
How rulemaking process relates to health care organization
: Explain how the rulemaking process relates to health care organizations. Choose a health care regulation or rule. Explain how that rule is implemented. Identify which agency or regulatory body is responsible for overseeing it.
|
Prepare a classified balance sheet in good form
: (Balance Sheet Preparation) for the current year, 2014. Presented below are a number of balance sheet items for Montoya, Inc., Prepare a classified balance sheet in good form. Common stock authorized was 400,000 shares, and pre- ferred stock authoriz..
|
What about monetary expansion
: Would your answer change if you thought different German and Japanese policies might facilitate different U.S. policies?
|
Organizational development and strategy
: Appraise the importance of the OD field in terms of its benefits in increasing business performance. Compare and contrast the internal levels of change and resistance, and then conclude which level would be the most difficult to address. Justify yo..
|
Application of intra-period income tax allocation
: On December 31, 20X0, Greer Co. entered into an agreement to sell its Hart segment's assets. On that date, Greer estimated the gain from the disposition of the assets in 20X1 would be $700,000 and Hart's 20X1 operating losses would be $200,000. When ..
|
Million dollars to invest
: You work for a Hedge fund that has 5 Million Dollars to invest. Research two (2) publicly traded companies, they should be in the same industry, for example two telecom companies, two pharmaceutical companies, two software companies, etc.
|
Will its position he disturbed by such a rise in
: Use the DD-AA model to examine the effects of a one-time rise in the foreign price P*. If the expected future exchange tate rises immediately in proportion to Pk (in line with PPP), show that the exchange rate will also appreciate immediately in p..
|
What costs might such restrictions involve
: On its money supply? Can it offset either of these effects through domestic open-market operations? & How might restrictions on private financial account transactions alter the problem of attaining internal and external balance with a fixed exchan..
|
Determined by dividing the appropriate costs
: In a process cost accounting system, the average unit cost of a product is determined by dividing the appropriate costs by. What is the subsidiary ledger that contains a record for each overhead item called?
|