Dispose of a component of a business

Assignment Help Accounting Basics
Reference no: EM13124475

Byron inc. decided 0n august 1, 2010, to dispose of a component of its business. The component was sold on November 30, 2010. Byron's income for 2010 included income of $250,000 from operating the discontinued segment from January 1 to the sale date. Byron incurred a loss on November 30 sale of $220,000. Ignoring income taxes, what amount should be reported in the 2010 income statement as the net income or loss under ' discontinued operations ' ?

a. $220,000 loss

b. $30,000 loss

c. $30,000 income

d. $250,000 income

Reference no: EM13124475

Advantages-disadvantages of ideal versus normal standards

The comparative advantages and disadvantages of ideal versus normal standards. The factors that should be included in setting the price and quantity standards for direct mat

Journal entries-inventory valuation

Prepare the journal entries required at December 31, 2007 and at December 31, 2008 assuming that a perpetual inventory system and the direct method of adjusting to market is

Analysis of the regulatory environment

Create a presentation with an analysis of the regulatory environment - Identify one or more regulations that would apply to your selected company and discuss the ways that com

Prepare the general journal entry to update depreciation

A company purchased and installed equipment on January 1 at a total cost of $72,000. Straight-line depreciation was calculated based on the assumption of a five-year life and

What amount would be recorded as depreciation expense

A company purchased factory equipment on April 1, 2005, for $48,000. It is estimated that the equipment will have a $3,000 salvage value at the end of its 10-year useful lif

Answer the following true or false

Depending on which method is used to prepare the statement of cash flows the resulting end figure in cash flow from operating activities will be different between the two me

The contractor was paid the amount due in transaction

Investments that cost $ 3,000,000 were redeemed for $ 3,000,000 plus $ 50,000 interest. V. P. was paid the amount due in transaction  The contractor was paid the amount due in

Company diluted earnings per share

Net income for the year ended December 31,2008, was $6,000. Assuming an income tax rate of 50 percent what would be the company's diluted earnings per share for the year end


Write a Review

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd