Solution-What should be reported as pretax loss from the

What should be reported as pretax loss from the discontinued

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Reference no: EM132810018

On May 1,2020, Harlet Comoany approved a plan to dispose of a business segment. It is expected that the sale will occur on March 31,2021.

On December 31,2020, the carrying amount of the assets of the segment was P2,000,000 and the fair value less cost of disposal was P1,800,000.
During 2020,the entity paid employee severance and relocation costs of P100,000 as a dirwct result of the discontinued operation.

The revenue and expenses of the discontinued segment during 2020 were:

                                      Revenue Exepense
Jan. 1 to Apr.30.   1,500,000 2,000,00
May 1to Dec.31.      700,000    900,000

Problem 1: What should be reported as pretax loss from the discontinued segment for 2020?

Reference no: EM132810018

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What should be reported as pretax loss from the discontinued

Reference no: EM132810018

Reference no: EM132810018

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