Answered: On June 30, Flores Corporation…

On June 30, Flores Corporation discontinued its operations in Mexico. On September 1, Flores disposed of the Mexico facility at a pretax loss of $ 690,000. The applicable tax rate is 30%.

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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On June 30, Flores Corporation discontinued its operations in Mexico. On September 1, Flores disposed of the Mexico facility at a pretax loss of $ 690,000. The applicable tax rate is 30%. Show the discontinued operations section of Flores’s statement of comprehensive income.

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