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What amount should be reported as loss from discontinued

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Problem 1: On Sept. 30 2013, when the carrying amount of the net assets of a business segment was 70,000,000, young company signed a legally binding contract to sell the business segment. The sales is expected to be completed by jan. 31, 2014, the sale contract obliges young company to terminate the employment of certain employees of the business segment incurring an expected termination cost of 2,000,000 to be paid on june 30, 2014. The segment revenue and expenses for 2013 were 40,000,000 and 45,000,000 respectively, Before income taxes, what amount should be reported as loss from discontinued operation for 2013?

Reference no: EM132744491

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