15. Majors Corporation had income from continuing operations of P 1,800,000 in 201S. During 2015 it disposed of its repair division at pre-tax gain of P 27,000. Prior to disposal, the division
15. Majors Corporation had income from continuing operations of P 1,800,000 in 201S. During 2015 it disposed of its repair division at pre-tax gain of P 27,000. Prior to disposal, the division
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:15. Majors Corporation had income from continuing operations of P 1,800,000 in 201S. During 2015
it disposed of its repair division at pre-tax gain of P 27,000. Prior to disposal, the division
operated at a pre-tax loss of P 45,000. The tax rate was 30%. What is the net income for 2015?
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