Financial Accounting: Tools for Business Decision Making, 8th Edition
Financial Accounting: Tools for Business Decision Making, 8th Edition
8th Edition
ISBN: 9781118953808
Author: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso
Publisher: WILEY
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Chapter 13, Problem 13.1BE
To determine

Discontinued Operations Section: In general, there are many companies that deal many lines of business. But, all the businesses do not flourish. Some business result in loss and thus, disposed of. These businesses are referred to discontinued operations.

To show: The discontinued operation section of F’s statement of comprehensive income.

Given: Pretax loss and tax rate

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On June 30, Sarasota Corp. discontinued its operations in Mexico. On September 1, Sarasota disposed of the Mexico facility at a pretax loss of $797,000. The applicable tax rate is 28%. Show the discontinued operations section of Sarasota's statement of comprehensive income. SARASOTA CORP. Partial Statement of Comprehensive Income 2$
On June 30, Flores Corporation discontinued its operations in Mexico. On September 1, Flores disposed of the Mexico facility at a pretax loss of $750,000. The applicable tax rate is 38%. Show the discontinued operations section of Flores's statement of comprehensive income. (Enter loss using either a negative sign preceding the number e.g. -2,945 or parentheses e.g. (2,945).) FLORES CORPORATION Partial Statement of Comprehensive Income $
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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