Question
Cora Company has a income tax rate of 20%. Income before taxes for Year9 was $390,000. The $390,000 includes the following results from the Sport
Cora Company has a income tax rate of 20%. Income before taxes for Year9 was $390,000. The $390,000 includes the following results from the Sport and Snack divisions:
$( 40,000) Loss on sale of the Sport division during Year9. (It was sold the 1st day of Year 9) $ 430,000 Operating results of the Snack division during Year9 $ 390,000
The Sport division sale qualified as a discontinued operation.
What will Cora Company reports as income from continuing operations (after tax) for Year9?
| A. | $320,000. | |
| B. | $352,000. | |
| C. | $430,000. | |
| D. | $330,000 | |
| E. | $344,000. | |
| F. | $312,000 |
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Security Of Computerisation In Accounting And Auditing System
Authors: M.S. Baghel
1st Edition
8178801132, 978-8178801131
