During the quarter, the IT department earned service revenues of $ 1 3 , 0 0 0
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Question:
During the quarter, the IT department earned service revenues of $ and had associated expenses of $ As the quarter ended, the IT department sold all of its assets for $ These assets updated balance sheet values were as follows:
NBV
Inventoryreplacement parts $ $
Computer A
Accumulated Depreciation Computer A
Computer B
Accumulated Depreciation Computer B
Diagnostic and repair tools
Accumulated Depreciation Diagnostic and repair tools
The incomeloss from discontinued operations is:
Revenue
Expenses
income from discontinued ops
The gain or loss from disposal of the equipment:
Proceeds
Net Book Value NBV
Net incomeloss from the discontinued IT department:
income from discontinued ops
loss on disposal of equipment
NET INCOME from discontinued op
TAX EFFECT? IF rate
NET INCOME from discontinued op AFTER TAX
Related Book For
Accounting for Governmental and Nonprofit Entities
ISBN: 978-1259917059
18th edition
Authors: Jacqueline L. Reck, James E. Rooks, Suzanne Lowensohn, Daniel Neely
Posted Date: