Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

how do i calculate the Income From Operations of Discontinued Segment, Net of Tax and Gain on Disposal of Discontinued Segment, Net of Tax? ED

how do i calculate the Income From Operations of Discontinued Segment, Net of Tax and Gain on Disposal of Discontinued Segment, Net of Tax?

image text in transcribed
ED Revenues Allocated to Account Continuing Discontinued Account Balance Operations (80%) Operations (20%) Sales $ 28,000.00 22 , 900. 00 5 60 0 00 Operating Expenses Allocated to Account Continuing Discontinued Account Balance Operations (85%) Operations (15%) Sales $ 28,000.00 $ 22,400.00 $ 5,600.00 Cost of Services Provided (7,200.00) ( 6120. 00 ) (1080, 00 ) Gross profit $ 20,800.00 16280,00 45 20,00 Selling, General and Administrative Expenses (800.00) (680.00) (120 . 00 ) Depreciation and Amortization Expense 920.00) ( 282. 08 ) (138.00 ) Operating Income $ 19,080.00 19818. 00 4262,00 Barnes Corporation Statement of Net Income For the Year Ended December 31 Sales $ 22,400.00 Less: Cost of Services Provided 6, 120.00) Gross Profit $ 16,280.00 Operating Expenses: Selling, General and Administrative Expenses $ 680.00 Depreciation and Amortization Expense 782.00 Total Operating Expenses 1,462.00 Income From Continuing Operations Before Tax $ 14,818.00 Income Tax Expense (5927.20) Income From Continuing Operations 8890. 80 Discontinued Operations Income From Operations of Discontinued Segment, Net of Tax Gain on Disposal of Discontinued Segment, Net of Tax Net Income

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Risk-Based Internal Audit

Authors: Jason Lee Mefford

1st Edition

1631922629, 9781631922626

More Books

Students also viewed these Accounting questions

Question

Coaching and motivational behavior

Answered: 1 week ago