BE 4.05 – White and Sons, Inc.
Intermediate Accounting
Spiceland, Nelson, and Thomas
10th Edition
Prepare the lower portion of the income statement and the earnings per share.
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Prepare the lower portion of the income statement and the earnings per share.
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They give you the completed sale of assets, the book value of assets, income, tax rate and ask you to prepare the lower portion of the income statement.
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Given the amount the business was sold for, the book value, the loss on operations, the pretax income, and the tax rate… prepare the lower portion of the income statement.
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Given the sale of the business, the book value, the loss from operations, the pretax income, the income tax rate, and the estimated fair value of assets… prepare the bottom half of the income statement.
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The version of this problem contains a book value that is greater than the estimated fair value. Given you the sale of a business, the loss on operations, the pretax income, and the tax rate… prepare the lower portion of the income statement.
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Prepare a separate statement of comprehensive income.
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Prepare the cash flows from the operating activities section.
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Prepare the cash flows from investing and financing activities sections of the statement of cash flows
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They give you the net income, depreciation, prepaid rent, salaries, and taxes payable. They ask you for a cash flow statement using the indirect method.
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Given a summary of cash transactions during the year they ask you to prepare a statement of cash flows under IFRS.
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