Question
The following are Income Statement Special Items reviewed in Section B of the class outline. Please answer the question below using A-F or T/F Unusual
The following are Income Statement Special Items reviewed in Section B of the class outline. Please answer the question below using A-F or T/F
- Unusual or Infrequent Item
- Equity Earnings
- Discontinued Operations
- Extraordinary Items
- Change in Accounting Principle
- Net earnings related to Non-controlling Interest
______Which of the above items, if material, is reported on its own line and above earnings before taxes on a pre-tax basis?
______Which of the above items is reported on Amazons income statement after the line item for income tax provision?
______True or False: The item above is reported net of tax
The 2017 (2/07/2018) Southwest Airlines Form 10-K shows acquisition and integration expenses related to its acquisition of AirTran in the 2015 column. This represents an example of item A above. Which one of the following companies has an item reported on its income statement that would be in this same category?
____________Amazon OR Best Buy What was the line item(s) called? ________________
Which one of the following companies reported Discontinued Operations?
_________Amazon
_________Best Buy
_________Southwest Airlines
What did the discontinued operations relate to? ___________________
_____ True or False: In general, items reported after the line item for Income Tax Expense (provision) are reported net of tax.
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