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Question - On December 31, 2013, the end of the fiscal year, California Microtech Corporation completed the sale of its semiconductor business for $12 million. The business segment qualifies as a component of the entity according to GAAP. The book value of the assets of the segment was $10 million. The loss from operations of the segment during 2013 was $3.5 million. Pretax income from continuing operations for the year totaled $7.1 million. The income tax rate is 35%.
Prepare the lower portion of the 2013 income statement beginning with pretax income from continuing operations. Ignore EPS disclosures.
Benson Company has operating assets of $20,900,000. The company's operating income for the most recent accounting period was $2,680,000.
Identify which of the following costs are fixed and which are variable: Electricity for machinery in a plant, Sales commission and Property taxes on a factory building
Keith a wealthy Japanese national is told by his doctors to have an operation performed at the Emory Clinic. Keith is hesitant to come to the United States.
hammer inc. had the following activities during 2012 direct materials beginning
What are specific people risks that banks encounter? What methods can be used to mitigated these risks? Can any of these risks be completely eradicated?
how do you calculate the npv and irr with just a purchase price and ltv . for example the purchase value 9200000 using
magic co. is considering the purchse of a new machine to manufacture its own brand of magic kits for large magic shows.
Kirksville Company is considering two mutually exclusive investments. The projects' expected net cash flows are as follows: Year Expected Net Cash Flows Project A Project B 0 -$1,300 -$405 1 $300 $100 2 $200 $100 3 $100 $100 4 $600 $100 5 $600 $10..
Discuss and evaluate the favourable and un-favourable consequences of IFRS 3 allowing the adjusted fair value option for measuring non-controlling interests
The motel has annual fixed costs of $345,000 and variable costs averages $15.00 per room occupied. a. Calculate the motel's breakeven level and its occupancy percentage.
Examine the key inferences of corporate ethics related to internal controls and accounting principles which lead to the litigation
Transferred 175,000 of work in process to finished goods. Prepare the March income statement for Gantt Manufacturing Company
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