Question
BlossomCorporation reported the following pre-tax amounts for the year ended August 31, 2021: profit before income tax (on the company's continuing operations), $332,000; loss from
BlossomCorporation reported the following pre-tax amounts for the year ended August 31, 2021: profit before income tax (on the company's continuing operations), $332,000; loss from discontinued operations, $92,000; and gain on disposal of assets of discontinued operations, $61,000.Blossomis subject to a21% income tax rate.
Calculate the income tax expense on continuing operations.
Income tax expense on continuing operations
$
enter the Income tax expense on continuing operations in dollars
eTextbook and Media
Calculate any income tax expense or savings on each item of discontinued operations.(Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).)
Income tax
select expense or savings
expensesavingson operating losses$
enter a dollar amount
Income tax
select expense or savings
expensesavingsongain on disposal of assets$
enter a dollar amount
Total income tax
select expense or savings
expensesavingson discontinued operations$
enter a dollar amount
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