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On December 31, 2016, the end of the fiscal year, California Microtech Corporation completed the sale of its semiconductor business for $21 million. The business segment qualifies as a component of the entity according to GAAP. The book value of the assets of the segment was $19 million. The loss from operations of the segment during 2016 was $3.2 million. Pretax income from continuing operations for the year totaled $6.9 million. The income tax rate is 40%.
Prepare the lower portion of the 2016 income statement beginning with pretax income from continuing operations. Ignore EPS disclosures. (Amounts to be deducted and negative amounts should be indicated with a minus sign. Enter your answers in whole dollars.)
ruby is the owner of all shares of an s corporation. ruby is considering receiving a salary of 80000 from the business.
olive branch restaurant corporation sells franchises throughout the western states. on january 30 2013 the company
What could be the possible reasons for the fictitious employees being added on the payroll system?
the cost formula for the maintenance department of rainbow. ltd. is 19400 per month plus 7.7 per machine hour used by
trusler company uses flexible budgets to control its selling expenses. monthly sales are expected to range from 170000
satellite products inc. owns two subsidiaries saturn systems and neptune audio. saturn supplies printed circuit boards
If k is speci?ed (as it is in many cases), obtain two separate expressions for method of moments estimate for p based on M1 and M2. When k is speci?ed, obtain a maximum likelihood estimate (MLE) for p and compare it with the method of moments esti..
Refer to Kazaam Company's financial statements and related information in Problem. Required Prepare a complete statement of cash flows.
precision pumps and valves ltd. manufactures hydraulic components for mobile industrial equipment such as
Explain what these terms mean, and discuss the implications to Rai of switching its payment terms to those of its competitors.
ACC 212- Which financial statement should be prepared first and why and explain what information this financial statement provides. Explain what the Going-concern Assumption is and provide an example of its application.
Essay: Revenue Recognition - The New Standard. Describe the revenue recognition principle. Briefly describe the five-step process
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