Kandon Enterprices Inc. | ||
Partial Income Statement | ||
For the year ended December 31, 2021 | ||
(a) | Income from continuing operations | $ 5,30,000 |
Discountinued operations | ||
Loss from operations of discontinued component | $ -3,23,000 | |
Add: | Income tax benefits | $ 80,750 |
(b) | Loss on discontinued operations | $ -2,42,250 |
(a) + (b) | Net Income | $ 2,87,750 |
Workings: | ||
Computation of Loss from discontinuing operations: | ||
Loss on sale of asset | $ -53,000 | |
Add: | Operating loss | $ -2,70,000 |
Before tax loss from Discountinued operations | $ -3,23,000 | |
Less: | Income tax benefits ($323,000 X 25%) | $ 80,750 |
Net of tax loss | $ -2,42,250 | |
Kandon Enterprices Inc. | ||
Partial Income Statement | ||
For the year ended December 31, 2021 | ||
(a) | Income from continuing operations | $ 5,30,000 |
Discountinued operations | ||
Loss from operations of discontinued component | $ -2,70,000 | |
Add: | Income tax benefits | $ 67,500 |
(b) | Loss on discontinued operations | $ -2,02,500 |
(a) + (b) | Net Income | $ 3,27,500 |
Workings: | ||
Computation of Loss from discontinuing operations: | ||
Operating loss | $ -2,70,000 | |
Before tax loss from Discountinued operations | $ -2,70,000 | |
Less: | Income tax benefits ($270,000 X 25%) | $ 67,500 |
Net of tax loss | $ -2,02,500 |
Kandon Enterprises, Inc., has two operating divisions; one manufactures machinery and the other breeds and sells...
Kandon Enterprises, Inc., has two operating divisions; one manufactures machinery and the other breeds and sells horses. Both divisions are considered separate components as defined by generally accepted accounting principles. The horse division has been unprofitable, and, on November 15, 2021, Kandon adopted a formal plan to sell the division. The sale was completed on April 30, 2022. At December 31, 2021, the component was considered held for sale. On December 31, 2021, the company's fiscal year-end, the book value...
Kandon Enterprises, Inc., has two operating divisions, one manufactures machinery and the other breeds and sells horses. Both divisions are considered separate components as defined by generally accepted accounting principles. The horse division has been unprofitable, and, on November 15, 2021, Kandon adopted a formal plan to sell the division. The sale was completed on April 30, 2022 At December 31, 2021, the component was considered held for sale. On December 31, 2021, the company's fiscal year-end, the book value...
Kandon Enterprises, Inc., has two operating divisions; one
manufactures machinery and the other breeds and sells horses. Both
divisions are considered separate components as defined by
generally accepted accounting principles. The horse division has
been unprofitable, and, on November 15, 2021, Kandon adopted a
formal plan to sell the division. The sale was completed on April
30, 2022. At December 31, 2021, the component was considered held
for sale.
On December 31, 2021, the company’s fiscal year-end, the book value...
Kandon Enterprises, Inc., has two operating divisions, one manufactures machinery and the other breeds and sells horses. Both divisions are considered separate components as defined by generally accepted accounting principles. The horse division has been unprofitable, and, on November 15, 2021, Kandon adopted a formal plan to sell the division. The sale was completed on April 30, 2022 At December 31, 2021, the component was considered held for sale. On December 31, 2021, the company's fiscal year-end, the book value...
Kandon Enterprises, Inc., has two operating divisions, one manufactures machinery and the other breeds and sells horses. Both divisions are considered separate components as defined by generally accepted accounting principles. The horse division has been unprofitable, and, on November 15, 2021, Kandon adopted a formal plan to sell the division. The sale was completed on April 30, 2022. At December 31, 2021, the component was considered held for sale. points On December 31, 2021, the company's fiscal year-end, the book...
Kandon Enterprises, Inc. has two operating divisions, one manufactures machinery and the other breeds and sells horses. Both divisions are considered separate components as defined by generally accepted accounting principles. The horse division has been unprofitable, and, on November 15, 2021, Kandon adopted a formal plan to sell the division. The sale was completed on April 30, 2022 At December 31, 2021, the component was considered held for sale. On December 31, 2021, the company's fiscal year-end, the book value...
Kandon Enterprises, Inc., has two operating divisions; one manufactures machinery and the other breeds and sells horses. Both divisions are considered separate components as defined by generally accepted accounting principles. The horse division has been unprofitable, and, on November 15, 2021. Kandon adopted a formal plan to sell the division. The sale was completed on April 30, 2022. At December 31, 2021, the component was considered held for sale. On December 31, 2021, the company's fiscal year-end, the book value...
Kandon Enterprises, Inc., has two operating divisions, one manufactures machinery and the other breeds and sells horses. Both divisions are considered separate components as defined by generally accepted accounting principles. The horse division has been unprofitable, and, on November 15, 2021, Kandon adopted a formal plan to sell the division. The sale was completed on April 30, 2022 At December 31, 2021, the component was considered held for sale. On December 31, 2021, the company's fiscal year-end, the book value...
Kandon Enterprises, Inc., has two operating divisions; one manufactures machinery and the other breeds and sells horses. Both divisions are considered separate components as defined by generally accepted accounting principles. The horse division has been unprofitable, and, on November 15, 2021, Kandon adopted a formal plan to sell the division. The sale was completed on April 30, 2022. At December 31, 2021, the component was considered held for sale. On December 31, 2021, the company's fiscal year-end, the book value...
Kandon Enterprises, Inc., has two operating divisions; one manufactures machinery and the other breeds and sells horses. Both divisions are considered separate components as defined by generally accepted accounting principles. The horse division has been unprofitable, and, on November 15, 2021, Kandon adopted a formal plan to sell the division. The sale was completed on April 30, 2022. At December 31, 2021, the component was considered held for sale. On December 31, 2021, the company’s fiscal year-end, the book value...