User Account

All Pages

How would given amounts be reported on the income statement

Assignment Help Accounting Basics
Reference no: EM131794211

Problem

In 2010, Earthscope Company decided to sell its satellite sales division, even though the division had been profitable during the year. During 2010, the satellite division earned $51,000 and the taxes on that income were $13,000. The division was sold for a gain of $760,000, and the taxes on the gain amounted to $40,300. How would these amounts be reported on the income statement for the year ended December 31, 2010?

Reference no: EM131794211

Questions Cloud

Search a graph for a vertex that stores a given data item : Search a graph for a vertex that stores a given data item, and retrieve information about that item and/or update the information.
What levels and areas of control were ineffectively : What levels and areas of control were ineffectively used by chipotle,
What is the payback period : The Love Living In Paradise Company wants to calculate how long it will take to recover their initial investment on a project.
Differences between transportation and assignment problems : What are some similarities and differences between transportation and assignment problems?
How would given amounts be reported on the income statement : How would these amounts be reported on the income statement for the year ended December 31, 2010?
What is the average waiting time when patient calls : What is the average waiting time when a patient calls? What is the utilization of the pharmacy student?
What should walkskyer pay if market rates are given : Luke Walkskyer wants to buy your mortgage. The original balance of your mortgage was $200,000 and was obtained five years ago with monthly payments.
What is miguel taxable income : The trustee distributed $40,000 to Paula and $40,000 to George. What is Miguels trust acctg income? What is Miguel's DNI
Create an international strategy statement : Create an international strategy statement and final selection of 3 countries you all believe are the best options for AT&T.

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