INTERMEDIATE ACCOUNTING
INTERMEDIATE ACCOUNTING
10th Edition
ISBN: 9781264518869
Author: SPICELAND
Publisher: MCG
Question
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Chapter 16, Problem 16.14Q
To determine

Intra period tax allocation

Every business firm report their income from continuing operation and discontinued operation separately in financial statement for better understanding about the operation of business. So, for the tax purpose, a business should divide the total income tax expense for a reporting period between continuing and discontinued operations. A gain from discontinued operation increase the taxable income while loss from discontinued reduce the taxable income and produce a tax benefit.

To define: Intra period tax allocation

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