Should the sale of a fixed asset be classified as part of the ordinary course of business

Fantastic news! We've Found the answer you've been seeking!

Question:

Should the sale of a fixed asset be classified as part of the "ordinary course of business" of a company? How is it recorded on the income statement? Why under this heading?

Posted Date: Jun 06, 2024 04:10 PM

See More Questions

Brian Brunn, D.D.S., opened an incorporated dental practice on January 1, 2001. During the first month of operations the following transactions occurred: 1. Performed services for patients who had...
Lilly Company is planning to buy a set of special tools for its grinding operation. The cost of the tools is $18,000. The tools have a three-year life and qualify for the use of the three-year MACRS....
Read practice question below and answer. No explanation needed. If your client earned an after tax prot of $3,000,000 in 2019, had an ending retained earnings balance in 2010 of $12,980,000 and...
The following transactions occurred for the month of May. Units Cost Total Sales Price 80 10 $800 65 14 $910 85 12 $1,020 120 35 45 75 Date 1-May Beginning Balance 2-May Purchase 3-May Purchase...
How do multinationals choose the location of their industry? Explain giving some examples from Indian context
Our professor requires us to answer these questions in detailed form and provide the information required for each question appropriately 1.explain the concept ofLack of knowledge as a limitation to...
Describe the diversity argument for affirmative action in college admissions. How persuasive is this argument? What does Rawls's theory of justice have to say about this argument? Explain.
Marta working with the production and operations managers to decide whether the firm should make their entire product, or if they should find suppliers to make components of the product for them....
Discuss how their layout and organization might change for a simple task such as making a sandwich, as volume and variety change. 'If you were making a sandwich for a friend how would you do it'? 1)...
Suppose you observe the following situation: Security Pete Corp. Repete Co. Beta 1.90 1.59 Expected Return 0.200 0.173 Assume these securities are correctly priced. Based on the CAPM, what is the...
How is the National Guard deployed to assist in response to a disaster?
Where does the emergency management office reside at the state level? Give three examples.
What is the principal source of funding for state emergency management offices?

Should the sale of a fixed asset be classified as part of the ordinary course of business

Question:

Expert Answer:

Students also viewed these finance questions