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Books-R-Us, Inc. committed to sell its comic book division (a component of the business) on September 1, 2010. The book value of the divisions net
Books-R-Us, Inc. committed to sell its comic book division (a component of the business) on September 1, 2010. The book value of the divisions net assets was $400,000 and the estimated selling price of the net assets was $350,000. The disposal date is expected to be june 1,2011. The division reported a net loss of $15,000 for the year ended Desember 31,2010. Ignoring taxes, choose the correct reporting for discontinued operations in the income statement of Books-R-Us,Inc., for the year ended December 31,2010. income(loss)from gain(loss)from disposal descontinued operations of discontinued operations a. $(15,000) $ 50,000 b. $(15,000) $ (50,000) c. $-0- $ (50,000) d. $-0- $ 50,000 Can I get agood explanation
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