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Alucard Company has two divisions, AAA and BBB. Both qualify as business components. In 2023, the firm decided to dispose of the assets and liabilities of division BBB and it is probable that the disposal will be completed early 2024. The revenue and expenses of Alucard Company for 2023 and 2022 are as follows: 2023 2022 Sales-AAA 5,000,000 4,600,000 Total nontax expenses- 4,400,000 4,100,000 AAA Sales-BBB 3,500,000 5,100,000 Total nontax expenses- 3,900,000 4,500,000 BBB

Alucard Company has two divisions, AAA and BBB. Both qualify as business components. In 2023, the firm decided to dispose of the assets and liabilities of division BBB and it is probable that the disposal will be completed early 2024. The revenue and expenses of Alucard Company for 2023 and 2022 are as follows: 2023 2022 Sales-AAA 5,000,000 4,600,000 Total nontax expenses- 4,400,000 4,100,000 AAA Sales-BBB 3,500,000 5,100,000 Total nontax expenses- 3,900,000 4,500,000 BBB

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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QUESTION

 

How much shall be presented as profit/loss on the face of the income statement?

 

USE NEGATIVE SIGN IF LOSS

Alucard Company has two divisions, AAA and BBB. Both qualify as business components. In 2023, the firm decided to dispose of the assets and liabilities of division BBB and it is probable that the disposal will be completed early 2024. The revenue and expenses of Alucard Company for 2023 and 2022 are as follows: 2023 2022 Sales-AAA 5,000,000 4,600,000 Total nontax expenses- 4,400,000 4,100,000 AAA Sales-BBB 3,500,000 5,100,000 Total nontax expenses- 3,900,000 4,500,000 BBB
Transcribed Image Text:Alucard Company has two divisions, AAA and BBB. Both qualify as business components. In 2023, the firm decided to dispose of the assets and liabilities of division BBB and it is probable that the disposal will be completed early 2024. The revenue and expenses of Alucard Company for 2023 and 2022 are as follows: 2023 2022 Sales-AAA 5,000,000 4,600,000 Total nontax expenses- 4,400,000 4,100,000 AAA Sales-BBB 3,500,000 5,100,000 Total nontax expenses- 3,900,000 4,500,000 BBB
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