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please help me with the above accounting question, both a & b! will give good rating, thank you in advance:) Question 1 During calendar 2017,

image text in transcribed please help me with the above accounting question, both a & b! will give good rating, thank you in advance:)
Question 1 During calendar 2017, Macadamia Ltd. entered into an agreement to sell its Trucking Division to Poodle Ltd., in order to focus its efforts on expansion of its other divisions. For purposes of income statement reporting, the Trucking Division qualifies as a separate component of the business. The Trucking Division incurred a net loss of $250,000 from the beginning of the year to the date of sale, December 15, 2017. The combined assets of the Trucking Division had a book value of $7,340,000 and were sold for $9,000,000 on December 15, 2017. Assume Macadamia has an income tax rate of 40% Instructions Calculate the amounts Macadamia should report for the following items in the Discontinued Operations section of the December 31, 2017 income statement: Loss on Operation of Trucking Division Disposal of Trucking Division. . Gain/Loss on b

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