User Account

All Pages

What amount should be reported on avalia income statement

Assignment Help Accounting Basics
Reference no: EM132714920

Question: Avalia Ltd. decided on January 1, 2019 to discontinue its plastic-making division. The division, properly identified as a reportable segment, was sold on June 1, 2019. Division assets with a carrying value of $1,600,000 were sold for $1,000,000. Operating income from January 1, to May 30, 2019 for the division amounted to $250,000. Income taxes are at the rate of 30%. What amount should be reported on Avalia's income statement for the year ended December 31, 2019 under the caption "discontinued operations"? Show all of your work to maximize marks.

Reference no: EM132714920

Questions Cloud

What strategies assist with protecting against currency : In the year prior to its U.K. launch, the company spent more than anticipated due to the rising cost of the GBP over the USD. What strategies could assist with.
Calculate the company break-even point in unit sales : Mauro Products distributes a single product, a woven basket whose selling price is $10 per unit and whose variable expense is $7 per unit.
What would be ending inventory assuming lifo : Dunbar sold 580 units of inventory during the month. Ending inventory assuming LIFO would be: (Do not round your intermediate calculations).
Should inmates be required to pay bail : The healthcare costs (financial burden) of inmates at the local county jail is on the county government. How does this impact decision to release individuals.
What amount should be reported on avalia income statement : Avalia Ltd. decided on January 1, 2019 to discontinue its plastic-making division. The division, properly identified as a reportable segment, was sold on June.
Create additional issues regarding the health topic : Pick a public health issue, how the system either helps to create additional issues regarding this health topic or helps to address the health topic overall.
Explain qualitative and quantitative research methods : Explain qualitative and quantitative research methods appropriate for meeting project aims and objectives which you produced as vulnerability assessment project
How could understand the sweeping political changes : How you could understand the sweeping political changes that have taken place and are currently taking place since the election of President Trump
Why does continue to exist in the US : If this "line" is arbitrary, or a subjective and legally unsupported in American culture, why does it continue to exist in the US in 2016?

Reviews

Write a Review

Accounting Basics Questions & Answers

  Prepare the budgets like sales budget and collection budget

The ABC Company is a Tour Operator. Prepare all the budgets like Sales Budget, Collection Budget, Purchase Budget, Payment Budget

  Prepare a vertical analysis of the income statement

The following income statement data (in thousands) for Dell Inc. and Gateway, Inc., were taken from their recent annual reports:

  Cognitive behavioral therapy

Cognitive Behavioral Therapy can be effective in helping older adults in life because "Cognitive-behavioral therapy (CBT) is a popular and em­pirically supported treatment for a number of common mental health problems, including mild to moderate m..

  Sprint company makes special equipment used in cell towers

Sprint Company makes special equipment used in cell towers. Each unit sells for $400. Sprint produces and sells 12,500 units per year. They have provided the following income statement data:

  The samph construction company expects to have a total

the samph construction company expects to have a total sales next year totaling 15000000. in addition the firm pays

  Suppose that during 2014 tax legislation was passed that

problem 16-8 multiple differences taxable income given two years balance sheet classification change in tax rate lo16-4

  Prepare general journal entries to record the transactions

Prepare general journal entries to record the four transactions and to adjust the Allowance for Doubtful Debts account and income statement down

  Calculate the discounted selling price

Pete's Wheels n' Spokes has a rate of markup on cost of 25% on a model of bikes. Calculate the discounted selling price

  Prepare summary journal entries to record transactions

Prepare summary journal entries to record the following transactions and events a through g for a company in its first month of operations.

  Highest point of trajectory

A golfer's tee shot follows a path given by y = 64t - 16t^2, where y is the height of the ball (in feet) after t seconds of flight. Halfway through its flight, the golf ball reaches the highest point of its trajectory. How high is that?

  What amount must kelly include as income

In Kelly's current-year income tax return, what amount must Kelly include as income from the transfer of the partnership interest

  Compute the cost of equity for Muafa Coffee Valley

Mr. Hazizan, is a Financial Manager for Muafa Coffee Valley Sdn. Compute the cost of equity for Muafa Coffee Valley Sdn Bhd

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!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

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