X + One E BACC410 Assessment 1 Venczylk3_RihbujhbEWWzW6kjdiblaJhjXKQ8uhraKQ/formResponse The following accounts are extracted from the worksheet of X Company on December 31, 2020: Income from operations $282.000 Dividends Revenue 28.000 Operating expenses 188,000 Loss from sale of land 10.000 . During the year, the company suffered from abnormal and infrequent hurricane damages that had resulted in a $30.000 pretax tax loss During the year also, the company stopped the activities of its DD segment which had resulted in a net of tax operating loss of $40,000 and a pretax loss on disposal $10.000 Tax Rate was 40% Based on the data above, gross profit was: * $300,000 $470,000 $452,000 None of the above at One E BACC410 Assessment 1 x + ybVenGzylk3_Rihbujh6EwWzW6kjdibJa JhjXKQ8uhrakQ/formResponse Based on the data above, income from continuing activities after taxes was: $112,000 $300,000 $180,000 None of the above Based on the data above, discontinued operations will have the following effect in the income statement: A decrease by $46,000 O A decrease by $50,000 O A decrease by $30,000 O Cannot be determined Based on the data above, the net extraordinary loss was 5 $30,000 $18.000 512.000 None of the above X + E BACC410 Assessment 1 . Nczylk3_RihbujhbEWWzW6kjdlbjaOjhjXKQ8uhraKQ/formResponse Based on the data above, the net extraordinary loss was: $30,000 $18,000 $12,000 None of the above Based on the data above, net income was: $116,000 $48,000 $236,000 None of the above Back Submit words through Go Forms Page 6 of 6 X + One E BACC410 Assessment 1 Venczylk3_RihbujhbEWWzW6kjdiblaJhjXKQ8uhraKQ/formResponse The following accounts are extracted from the worksheet of X Company on December 31, 2020: Income from operations $282.000 Dividends Revenue 28.000 Operating expenses 188,000 Loss from sale of land 10.000 . During the year, the company suffered from abnormal and infrequent hurricane damages that had resulted in a $30.000 pretax tax loss During the year also, the company stopped the activities of its DD segment which had resulted in a net of tax operating loss of $40,000 and a pretax loss on disposal $10.000 Tax Rate was 40% Based on the data above, gross profit was: * $300,000 $470,000 $452,000 None of the above at One E BACC410 Assessment 1 x + ybVenGzylk3_Rihbujh6EwWzW6kjdibJa JhjXKQ8uhrakQ/formResponse Based on the data above, income from continuing activities after taxes was: $112,000 $300,000 $180,000 None of the above Based on the data above, discontinued operations will have the following effect in the income statement: A decrease by $46,000 O A decrease by $50,000 O A decrease by $30,000 O Cannot be determined Based on the data above, the net extraordinary loss was 5 $30,000 $18.000 512.000 None of the above X + E BACC410 Assessment 1 . Nczylk3_RihbujhbEWWzW6kjdlbjaOjhjXKQ8uhraKQ/formResponse Based on the data above, the net extraordinary loss was: $30,000 $18,000 $12,000 None of the above Based on the data above, net income was: $116,000 $48,000 $236,000 None of the above Back Submit words through Go Forms Page 6 of 6
