Intructom CHART OF ACCOUNTS Woods Company General Ledger ASSETS 111 Cash 121 Accounts Receivabie 141 inventory 152 Prepaid insuranco 381 Equpment 189 Acoumulated Depreciation 191 Assets of heidforsale Wams Divion LLBILTIES 211 Accounts Payable 231 Salares Payatio 250 Uneartied Reverve 261 income taxes Payable ReVEnue 411 Sales Reverue EXPENSES 500 Cott of Goods sold 511 inturance Expense. 512 Uuties Expense 521 Salares Expense 532 Gad Debt Expense 540 interes! Expense S41 Depredation Expente 553 Miscelanesus Expentes 701 Loss co Write Down of Held for Sule Whame Division 990 income Tax Expense Eourr at1 Commons Stoce. 231 Fletaned Eaminge 1. Prepare the journal entry on December 31, Year 9, fo record the pretax loss on hold-for-sale Wiliams Division. Goneral Joumal Instructions Supporting caiculations: The amount of the joumal entry on December 31, Year 9, to record the pretax less on held-for-sale Willams Division is calculated as book value of net assots less tair value of net assets of discontinued Wiliams Divison fair value of net asset of discontinued Wilams Divion bock value of net assets of discontinued Wisams Division income from operations of dscontinusd Wilians Division Labels and Amount Descriptions I. Show how Wasams Division would be reported on Woods ' Decewher 31, Year 9, balance sheve. WOODS COMPANY Income Statement For the Year Ended December 31 , Year 9 1 a 3 4 1 , 7 [Latei] 11 1 Components of Income Earnings per Comman Share (50,000 shares) Intructom CHART OF ACCOUNTS Woods Company General Ledger ASSETS 111 Cash 121 Accounts Receivabie 141 inventory 152 Prepaid insuranco 381 Equpment 189 Acoumulated Depreciation 191 Assets of heidforsale Wams Divion LLBILTIES 211 Accounts Payable 231 Salares Payatio 250 Uneartied Reverve 261 income taxes Payable ReVEnue 411 Sales Reverue EXPENSES 500 Cott of Goods sold 511 inturance Expense. 512 Uuties Expense 521 Salares Expense 532 Gad Debt Expense 540 interes! Expense S41 Depredation Expente 553 Miscelanesus Expentes 701 Loss co Write Down of Held for Sule Whame Division 990 income Tax Expense Eourr at1 Commons Stoce. 231 Fletaned Eaminge 1. Prepare the journal entry on December 31, Year 9, fo record the pretax loss on hold-for-sale Wiliams Division. Goneral Joumal Instructions Supporting caiculations: The amount of the joumal entry on December 31, Year 9, to record the pretax less on held-for-sale Willams Division is calculated as book value of net assots less tair value of net assets of discontinued Wiliams Divison fair value of net asset of discontinued Wilams Divion bock value of net assets of discontinued Wisams Division income from operations of dscontinusd Wilians Division Labels and Amount Descriptions I. Show how Wasams Division would be reported on Woods ' Decewher 31, Year 9, balance sheve. WOODS COMPANY Income Statement For the Year Ended December 31 , Year 9 1 a 3 4 1 , 7 [Latei] 11 1 Components of Income Earnings per Comman Share (50,000 shares)
