Assume that the amount of each of the following items is material to the financial statements. Classify each item as either normally recurring (NR) or extraordinary (E).

a. Restructuring charge related to employee termination benefits.

b. Loss on sale of fixed assets.

c. Uninsured flood loss. (Flood insurance is unavailable because of periodic flooding in the area.)

d. Interest revenue on notes receivable.

e. Loss on disposal of equipment considered to be obsolete because of development of new technology.

f. Uninsured loss on building due to hurricane damage. The firm was organized in 1920 and had not previously incurred hurricane damage.
g. Uncollectible accounts expense.
h. Gain on sale of land condemned for public use.obj. 5