User Account

All Pages

Describe the correct reporting for discontinued operations

Assignment Help Accounting Basics
Reference no: EM132587838

Question 1: Queen Corporation decided to sell its furniture business segment for $400,000, on September 1, Year 1, which is also the disposal date. The book value of the segment's net assets is $500,000 on this date. The pre-tax income for the segment for the period January 1 - September 1, Year 1, was $150,000. Assuming a tax rate of 40%, choose the correct reporting for discontinued operations in the income statement of Queen Corporation, for the year ended December 31, Year 1.

Reference no: EM132587838

Questions Cloud

What has happened to crt tvs : Over time, some goods change from being a normal good to an inferior good, or from being an inferior good to a normal good.
Find the ending ucc in 2014 : Kinnetics Inc. purchased Class 8 (20% CCA Rate) equipment for $10,000 on July 23, 2014. Opening UCC for Class 8 in 2014 was $13,000.
What is net amount that will be charged to pension expense : Renegade Corp. provides its employees,What is the net amount that will be charged to pension expense for Renegade's 20X4 fiscal year end?
Reduce the price of the city zoo tickets : Government officials have hired your consulting firm to encourage more people to use the city's zoo. In the initial meeting
Describe the correct reporting for discontinued operations : Choose the correct reporting for discontinued operations in the income statement of Queen Corporation, for the year ended December 31, Year 1.
Indicate the nation genuine progress : Can GDP alone properly indicate the nation's genuine progress? If not, what is the limitation of GDP?
How can we measure the degree to economy : How can we measure the degree to which an economy is developed?
Find which statements is true about financial statements : Which statements is true about financial statements?Assets reported on the balance sheet may or may not have a source./Income statement is prepared
Contrast the production function for a product : Compare and contrast the production function for a product and one for a service center. Given the example steel mill and call center.

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Theory of interest - term structure of interest rates

Term Structure of Interest Rates

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd