In its proposed 2020 income statement, Grinders Limited reports income before income taxes 500,000, income taxes 160,000
Question:
In its proposed 2020 income statement, Grinders Limited reports income before income taxes £500,000, income taxes £160,000 (not including unusual items), loss on operation of discontinued music division £60,000, and gain on disposal of discontinued music division £50,000, and unrealized loss on non-trading securities of £30,000. The income tax rate is 32%. Prepare a correct partial statement of comprehensive income beginning with income before income taxes.
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Related Book For
Accounting Principles
ISBN: 978-1119419617
IFRS global edition
Authors: Paul D Kimmel, Donald E Kieso Jerry J Weygandt
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