On April 30, 2005, Carty Corp. approved a plan to dispose of a segment of its business. The disposal loss is $480,000, including severance pay of $55,000 and employee relocation costs of $25,000, both of which are directly associated with the decision to dispose of the segment. The firm is a calendar-fiscal year firm, and the segment's operating loss for the entire year (2005) through the date of disposal was $120,000. Before income taxes, what amount should be reported in Carty's income statement for the year ended December 31, 2005, as the total income effect (loss) from discontinued operations? A. $600,000B. $480,000C. $120,000D. $360,000
Answers (1)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “On April 30, 2005, Carty Corp. approved a plan to dispose of a segment of its business. The disposal loss is $480,000, including severance ...” in 📗 Business if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers
You Might be Interested in
An investor purchases a stock for $38 and a put for $0.50 with a strike price of $35. The investor sells a call for $0.50 with a strike price of $40. What is the maximum profit and loss for this position
Answers (1)
Suppose that the federal government had a budget deficit of $80 billion in year 1 and $90 billion in year 2, but that it experiences budget surpluses of $40 billion in year 3 and $30 billion in year 4.
Answers (1)
Select the correct answer. Marketers use what kind of data validation to ascertain the reliability of secondary data? A. time series sales model B. naïve method C. operational decision making D. triangulation design
Answers (1)
What is the incidence of a tax? Question 43 options: The sum of a tax and a product's price The ratio of a tax to a product's price The levying of a tax on consumers The final burden of a tax
Answers (1)
Explain the most well-known service provided by insurance companies.
Answers (1)
New Questions in Business
Appalachian mountain goods has paid increasing dividends of $.10, $.12, $.15, and $.20 a share over the past four years, respectively.
Answers (1)
What type of skills tends to be equally important at all levels of management? a. technical skills b. human skills c. decisional skills d. motivation to manage e. conceptual skills
Answers (1)
Faldo Corp sells on terms that allow customers 45 days to pay for merchandise. Its sales last year were $325,000, and its year-end receivables were $60,000. If its DSO is less than the 45-day credit period, then customers are paying on time.
Answers (1)
Which NIMS structure develops, recommends, and executes public information plans and strategies? A. Emergency Operations Center (EOC). B. Incident Command System. C. MAC Groups. D. Joint Information System (JIS).
Answers (1)
Rules of Debit and CreditThe following table summarizes the rules of debit and credit. Indicate whether the proper answer is a debit or a credit.
Answers (1)