Brief Exercise 13-01 On June 30, Ayayai Corp. discontinued its operations in Mexico. On September 1,...
Brief Exercise 13-01
On June 30, Ayayai Corp. discontinued its operations in Mexico. On September 1, Ayayai disposed of the Mexico facility at a pretax loss of $725,000. The applicable tax rate is 29%. Show the discontinued operations section of Ayayai’s statement of comprehensive income.
|
AYAYAI CORP. |
||
| Select an opening section name
|
||
|---|---|---|
| Select a subsection name
|
$Enter a dollar amount
|
|
DividendsExpensesNet Income / (Loss)Retained EarningsRevenueTotal
ExpensesTotal RevenuesDiscontinued OperationsLoss on Disposal of
Mexico FacilityGain on Disposal of Mexico FacilityHomework Answers
Answer -
AYAYAI CORP.
Partial Statement of Comprehensive Income
| Calculation | Amount | |
| Discontinued operations: | - | - |
| Loss on disposal of Mexico facility | $725000 - 29% | $514750 |
Add Answer to:
Brief Exercise 13-01
On June 30, Ayayai Corp. discontinued its operations in Mexico.
On September 1,...
On June 30, Indigo Corporation discontinued its operations in Mexico. On September 1, Indigo disposed of...
On June 30, Indigo Corporation discontinued its operations in Mexico. On September 1, Indigo disposed of the Mexico facility at a pretax loss of $718,000. INDIGO CORPORATION Partial Statement of Comprehensive Income oss of $718,000. The applicable tax rate is 25%. Show the discontinued operations section of Indigo's statement of comprehensive income.
On June 30, Flores Corporation discontinued its operations in Mexico. On September 1, Flores disposed of...
On June 30, Flores Corporation discontinued its operations in Mexico. On September 1, Flores disposed of the Mexico facility at a pretax loss of $590,000. The applicable tax rate is 23%. Show the discontinued operations section of Flores's statement of comprehensive income. (Enter loss using either a negative sign preceding the number e.g. -2,945 or parentheses e.g. (2,945).) FLORES CORPORATION Partial Statement of Comprehensive Income Click if you would like to Show Work for this question: Open Show Work
Question 1 --/1 View Policies Current Attempt in Progress On June 30, Flint Corporation discontinued its...
Question 1 --/1 View Policies Current Attempt in Progress On June 30, Flint Corporation discontinued its operations in Mexico. On September 1, Flint disposed of the Mexico facility at a pretax loss of $702,000. The applicable tax rate is 27%. Show the discontinued operations section of Flint's statement of comprehensive income. FLINT CORPORATION Partial Statement of Comprehensive Income eTextbook and Media Save for Later Attempts: 0 of 3 used Submit Answer
On June 1, 2022, Sunland Company was started with an initial investment in the company of...
On June 1, 2022, Sunland Company was started with an initial investment in the company of $24,750 cash. Here are the assets, liabilities, and common stock of the company at June 30, 2022, and the revenues and expenses for the month of June, its first month of operations: Cash $ 5,250 Notes payable $13,300 Accounts receivable 4,380 Accounts payable 880 Service revenue 8,100 Supplies expense 945 Supplies 2,373 Maintenance and repairs expense 680 Advertising expense 400 Utilities expense 220 Equipment...
he following information relates to Sunland Company for the year 2022. Retained earnings, January 1, 2022...
he following information relates to Sunland Company for the year 2022. Retained earnings, January 1, 2022 $46,080 Advertising expense $1,730 Dividends during 2022 4,800 Rent expense 9,980 Service revenue 60,000 Utilities expense 2,980 Salaries and wages expense 26,880 Other comprehensive income (net of tax) 380 After analyzing the data, compute net income. Net income / (loss) $enter net income or loss amount Prepare a comprehensive income statement for the year ending December 31, 2022. Sunland Company Comprehensive Income Statement choose...
You are provided with the following information for Sandhill Co., effective as of its April 30,...
You are provided with the following information for Sandhill Co., effective as of its April 30, 2022, year-end. Accounts payable $ 848 Accounts receivable 900 Accumulated depreciation—equipment 630 Cash 1,360 Common stock 16,300 Cost of goods sold 1,000 Depreciation expense 315 Dividends 310 Equipment 2,500 Goodwill 1,900 Income tax expense 175 Income taxes payable 135 Insurance expense 360 Interest expense 460 Inventory 950 Investment in land 15,000 Land 3,200 Mortgage payable (long-term) 4,500 Notes payable (short-term) 62 Prepaid insurance 70...
The Culver Corporation had income from continuing operations of $13 million in 2020. During 2020, it...
The Culver Corporation had income from continuing operations of $13 million in 2020. During 2020, it disposed of its restaurant division at a loss of $80,000 (net of tax of $38,000). Before the disposal, the division operated at a loss of $220,000 (net of tax of $135,000) in 2020. Blue Collar also had an unrealized gain-OCI of $43,000 (net of tax of $18,000) related to its FV-OCI equity investments. Culver had 10 million common shares outstanding during 2020. Prepare a...
Exercise 13-01 For its fiscal year ending October 31, 2022, Bramble Corp, reports the following partial...
Exercise 13-01 For its fiscal year ending October 31, 2022, Bramble Corp, reports the following partial data shown below. Income before income taxes Income tax expense (20% x 5436,800) Income from continuing operations Loss on discontinued operations Net Income $561,600 87,360 474,240 124.800 $349,440 The loss on discontinued operations was comprised of a $52,000 loss from operations and a $72,000 loss from disposal. The income tax rate is 20% on all items. Prepare a correct statement of comprehensive income, beginning...
Cash + Accounts Receivable + Supplies + Equipment Accounts Payable Common Stock Retained Earnings = +...
Cash
+
Accounts
Receivable
+
Supplies
+
Equipment
Accounts
Payable
Common
Stock
Retained
Earnings
=
+
+
Revenues
–
Expenses
–
Dividend
1.
$14,600
$14,600
2.
–1,800
$4,300
$2,500
3.
–750
$750
4.
5,100
$3,500
$8,600
Service Revenue
5.
–1,000
–1,000
6.
–1,900
-$1,900
7.
–700
–$700
Rent Expense
8.
350
–350
9.
–4,000
–4,000
Salaries/Wages Expense
10.
550
–550
Utilities Expense
(a)
Prepare an income statement for August.
Sheridan
Company
Income Statement
Choose the accounting period
August 31, 2019For...
The items for the medical practice of Wildhorse, MD, are listed below. Retained earnings (October 1)...
The items for the medical practice of Wildhorse, MD, are listed
below.
Retained earnings (October 1)
$13,100
Common stock
33,000
Accounts payable
5,200
Equipment
33,000
Service revenue
29,000
Dividends
6,700
Insurance expense
4,400
Cash
10,200
Utilities expense
700
Supplies
2,600
Salaries and wages expense
9,900
Accounts receivable
10,300
Rent expense
2,500
Prepare an income statement for the month of October,
2022.
WILDHORSE, MD
Income Statement
For
the Month Ended October 31, 2022For the Year Ended October 31,
2022At October 31,...
On June 30, Indigo Corporation discontinued its operations in Mexico. On September 1, Indigo disposed of the Mexico facility at a pretax loss of $718,000. INDIGO CORPORATION Partial Statement of Comprehensive Income oss of $718,000. The applicable tax rate is 25%. Show the discontinued operations section of Indigo's statement of comprehensive income.
On June 30, Flores Corporation discontinued its operations in Mexico. On September 1, Flores disposed of the Mexico facility at a pretax loss of $590,000. The applicable tax rate is 23%. Show the discontinued operations section of Flores's statement of comprehensive income. (Enter loss using either a negative sign preceding the number e.g. -2,945 or parentheses e.g. (2,945).) FLORES CORPORATION Partial Statement of Comprehensive Income Click if you would like to Show Work for this question: Open Show Work
Question 1 --/1 View Policies Current Attempt in Progress On June 30, Flint Corporation discontinued its operations in Mexico. On September 1, Flint disposed of the Mexico facility at a pretax loss of $702,000. The applicable tax rate is 27%. Show the discontinued operations section of Flint's statement of comprehensive income. FLINT CORPORATION Partial Statement of Comprehensive Income eTextbook and Media Save for Later Attempts: 0 of 3 used Submit Answer
Exercise 13-01 For its fiscal year ending October 31, 2022, Bramble Corp, reports the following partial data shown below. Income before income taxes Income tax expense (20% x 5436,800) Income from continuing operations Loss on discontinued operations Net Income $561,600 87,360 474,240 124.800 $349,440 The loss on discontinued operations was comprised of a $52,000 loss from operations and a $72,000 loss from disposal. The income tax rate is 20% on all items. Prepare a correct statement of comprehensive income, beginning...
Cash
+
Accounts
Receivable
+
Supplies
+
Equipment
Accounts
Payable
Common
Stock
Retained
Earnings
=
+
+
Revenues
–
Expenses
–
Dividend
1.
$14,600
$14,600
2.
–1,800
$4,300
$2,500
3.
–750
$750
4.
5,100
$3,500
$8,600
Service Revenue
5.
–1,000
–1,000
6.
–1,900
-$1,900
7.
–700
–$700
Rent Expense
8.
350
–350
9.
–4,000
–4,000
Salaries/Wages Expense
10.
550
–550
Utilities Expense
(a)
Prepare an income statement for August.
Sheridan
Company
Income Statement
Choose the accounting period
August 31, 2019For...
The items for the medical practice of Wildhorse, MD, are listed
below.
Retained earnings (October 1)
$13,100
Common stock
33,000
Accounts payable
5,200
Equipment
33,000
Service revenue
29,000
Dividends
6,700
Insurance expense
4,400
Cash
10,200
Utilities expense
700
Supplies
2,600
Salaries and wages expense
9,900
Accounts receivable
10,300
Rent expense
2,500
Prepare an income statement for the month of October,
2022.
WILDHORSE, MD
Income Statement
For
the Month Ended October 31, 2022For the Year Ended October 31,
2022At October 31,...
Most questions answered within 3 hours.
-
Oxidative phosphorylation is achieved through chemiosmotic
coupling, which turns chemical energy into osmotic potential energy
that...
asked 1 hour ago -
Hollywood Shoes would like to maintain their cash account at a
minimum level of $64,000, but...
asked 1 hour ago -
Proteins CtrA-P, DnaA, and GcrA behave similarly to what
molecule in the Eukaryotic Cell Cycle?
asked 1 hour ago -
TRUE OR FALSE
In case of a competitive tender procedure, in the request for
quotation, the...
asked 2 hours ago -
I am a little behind please provide some explanation, will
provide thumbs up.
This question considers...
asked 2 hours ago -
Let say the utility function as U(X,Y) = lnX + Y. Show that the
marginal rate...
asked 2 hours ago -
A current of I=8.0A is flowing in a typical extension cord of
length L=3.00m. The cord...
asked 2 hours ago -
1. When balancing the equation H2SO4 (aq) + NaOH (aq) →
Na2SO4(aq) + H2O(aq), would you...
asked 2 hours ago -
Provide a definition of “classification hierarchy” and
illustrate your definition with an example of how and...
asked 2 hours ago -
1. Describe the four main green solvents. Provide one example of
the use of each solvent....
asked 2 hours ago -
International ethics focus on:
1) exploitation of labor
2)corruption
3) environmental impact
4) none of the...
asked 2 hours ago -
Costing Models You work for XYZ trucking and your boss has asked
you to figure out...
asked 2 hours ago