MC 4.03 Item included in Cont. Opers.
Intermediate Accounting
Spiceland, Nelson, and Thomas
10th Edition
Asks for an item included in continuing operations.
Asks for an item included in continuing operations.
List cost of goods sold, sales revenue, nonoperating expenses, operating expenses, and income tax expenses. Asks for the company operating income.
List revenue, operating expenses, income on discontinued operations, restructuring cost, interest expenses, and gain on sale of investments. Asks for the company’s income statement from continuing operations.
Asks for a manufacturing company, which is NOT a nonoperating income item.
List assets that were sold and the book value of said assets. Asks for the company’s reported income from discontinued operations.
The Arlene Corporation planned to sell its cosmetics business and generated operating income from it. The assets have not been sold and their value is estimated to be different than their book value. Determine the income from operations of the discontinued component in its year-end income statement.
Gives the salaries for the previous year and current year along with the salaries expense. Asks for cash outflows for salaries.
Gives the prepaid rent for the previous year and current year along with the rent expense. Asks for cash outflows for rent.
Gives the income before taxes and the loss on discontinued operations. Asks for the company’s income from continuing operations with a tax rate of 25%.
Asks which earnings per share figure should not be reported