Partial income statement account balances

Assignment Help Financial Accounting

Reference no: EM133301

Question :

The following are partial income statement account balances taken from the 31^st December, 2013, year-end trial balance of White and Sons, Inc.: restructuring costs, $330,000; interest revenue, $43,000; loss from earthquake (infrequent and unusual), $430,000; and loss on sale of investments, $53,000. Income tax expense has not yet been accrued. The income tax rate is 40%.

Organize the lower portion of the 2013 income statement starting with $865,000 income before income taxes and extraordinary item. Add suitable basic EPS disclosures. The company had 150,000 shares of common stock outstanding throughout the year.

Reference no: EM133301

Questions Cloud

What consolidation entry could be needed for these bonds : What consolidation entry could be needed for these bonds on December 31, 2012?

Model view controller pattern : PHP Frameworks, class patterns and object patterns, Object Oriented Design Principles, Program to an ‘interface' not to an Implementation, Open Close Principle, Principle of Least Knowledge, creational design prototypes, Dependency Inversion principl..

Create a cash budget for the months of july : Create a cash budget for the months of July through September 2012. Show required schedules for the calculation of receivables and payables.

Describe why the fair value of a companys assets : Describe why the fair value of a company's assets is used in the preparation of combined financial statement

Partial income statement account balances : Prepare an amortization schedule for the Note Receivable using the subsequent columns

Prepare an amortization schedule : Prepare an amortization schedule for the Note Receivable using the subsequent columns

Evaluate the direct materials price and quantity variances : Evaluate the direct materials price and quantity variances for July.2. Determine the direct labor rate and efficiency variances for July.

How much could betty report as dividend income : How much could Betty include in her 2011 taxable income as interest? How much could Betty report as dividend income for 2011? How much could Betty include in taxable "Other Income" for her state lottery winnings?

Evaluate kats bank reconciliation : Evaluate Kat's bank reconciliation. What adjustments, if any, does she require to make in her checkbook?

User Account

All Pages