E14-13 During 20X3, The Belleville Group earned income from continuing operations of $95,000. The company also sold
Question:
E14-13 During 20X3, The Belleville Group earned income from continuing operations of $95,000. The company also sold its land development segment (discontinued operations) at a loss of $30,000 and had an extraordinary gain of $8.000 on an insurance settlement. Late in the year. Belleville sold treasury stock for $9,000 that the company had purchased for $4.000 two years earlier. At year end, Belleville had a foreign-currency translation adjustment (a loss) of $3,000. 1. Compute Belleville's net income and comprehensive income for 20X3. All amounts are net of income taxes. 2. What would be the final earnings-per-share figure that Belleville would report for 20X3? During the year, Belleville had 20,000 shares of common stock (and no preferred stock) outstanding.
Step by Step Answer:
Accounting
ISBN: 9780130906991
5th Edition
Authors: Charles T. Horngren, Walter T. Harrison, Linda S. Bamber, Betsy Willis, Becky Jones