Homework Answers
Partial statement of comprehensive income
For the year ended October 31,2022
| Income before tax | 469800 | |
| Income tax expense | 93960 | |
| Income from continuing operation | 375840 | |
| Discontinued operation | ||
| Loss from discontinued operation (43500*80%) | -34800 | |
| Loss from disposal (60900*80%) | -48720 | |
| -83520 | ||
| Net income | 292320 | |
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Question 2 View Policies Current Attempt in Progress For its fiscal year ending October 31, 2022,...
For its fiscal year ending October 31, 2022. Bridgeport Corp. reports the following partial data shown...
For its fiscal year ending October 31, 2022. Bridgeport Corp. reports the following partial data shown below. Income before income taxes $448,200 Income tax expense (20% * $348,600) 69.720 Income from continuing operations 378.480 Loss on discontinued operations 99,600 Net income $278.880 The loss on discontinued operations was comprised of a $41,500 loss from operations and a $58.100 loss from disposal. The income tax rate is 20% on all items. Prepare a correct statement of comprehensive income, beginning with income...
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...
partial data shown below For its fiscal year ending October 31, 2017, Bramble Corp. reports the...
partial data shown below For its fiscal year ending October 31, 2017, Bramble Corp. reports the following Income before income taxes Income tax expense (17%x $467,000) 79,390 Income from continuing operations $643,000 563,610 128,300 Net income The loss o discontinued operations was comprised of a $59,900 loss from operations and a $68,400 loss from disposal. The income tax rate Prepare a cocrect statement of comprehensive income beginning with income before income taxes 17% on all terms BRAMBLE CORP Statement of...
For its fiscal year ending October 31, 2018, Haas Corporation reports the following partial data shown...
For its fiscal year ending October 31, 2018, Haas Corporation reports the following partial data shown below. Income before income taxes 540,000 Income tax expense (20%x420,000) 84,000 Income from continuing operations 456,000 Loss on discontinued operations 120,000 Net income 336,000 The loss on discontinued operations was comprised of a $50,000 loss from operations and a $70,000 loss from disposal. The income tax rate is 20% on all item. (a) Prepare a correct statement of comprehensive beginning with income before income...
OURCES Your answer is partially correct. Try again. For its fiscal year ending October 31, 2017,...
OURCES Your answer is partially correct. Try again. For its fiscal year ending October 31, 2017, Haas Corporation reports the following partial data shown below. Income before income taxes Income tax expense (18% x $412,000) Income from continuing operations Loss on discontinued operations Net Income $512,000 74,160 437,840 100,000 $337,840 by Study The loss on discontinued operations was comprised of a $55.300 loss from operations and a $44.200 loss from disposal. The income tax rate is 18% on all item...
For its fiscal year ending October 31, 2020, Haas Corporation reports the following partial data shown...
For its fiscal year ending October 31, 2020, Haas Corporation reports the following partial data shown below. Income before income taxes $535,000 Income tax expense (29% x $404,000) 117,160 Income from continuing operations 417,840 Loss on discontinued operations 131,000 Net income $286,840 The loss on discontinued operations was comprised of a $56,000 loss from operations and a $75,000 loss from disposal. The income tax rate is 29% on all items. (a) Prepare a correct statement of comprehensive income beginning with...
For its fiscal year ending October 31, 2020, Haas Corporation reports the following partial data shown...
For its fiscal year ending October 31, 2020, Haas Corporation reports the following partial data shown below. Income before income taxes $505,000 Income tax expense (25% x $376,000) 94,000 Income from continuing operations 411,000 Loss on discontinued operations 129,000 Net income $282,000 The loss on discontinued operations was comprised of a $56,000 loss from operations and a $73,000 loss from disposal. The income tax rate is 25% on all items. (a) Prepare a correct statement of comprehensive income beginning with...
Question 1 of 1 - / 10 III View Policies Current Attempt in Progress Waterway Corp....
Question 1 of 1 - / 10 III View Policies Current Attempt in Progress Waterway Corp. has 150,600 shares of common stock outstanding. In 2020, the company reports income from continuing operations before income tax of $1,233,800. Additional transactions not considered in the $1,233,800 are as follows. 1. 2. In 2020, Waterway Corp. sold equipment for $37,700. The machine had originally cost $81,400 and had accumulated depreciation of $30,400. The gain or loss is considered non-recurring. The company discontinued operations...
For its fiscal year ending October 31, 2017, Blue Spruce Corp. reports the following partial data...
For its fiscal year ending October 31, 2017, Blue Spruce Corp. reports the following partial data shown below. Income before income taxes $573,000 Income tax expense (25% × $557,000) 139,250 Income from continuing operations 433,750 Loss on discontinued operations 118,200 Net income $315,550 Prepare a correct statement of comprehensive income, beginning with income before income taxes.
Question 5 View Policies Show Attempt History Current Attempt in Progress In its income statement for...
Question 5 View Policies Show Attempt History Current Attempt in Progress In its income statement for the year ended December 31, 2022, Marigold Corp.reported the following condensed data, Operating expenses $ 713,000 Interest revenue $ 25,000 Cost of goods sold 1,248,000 Loss on disposal of plant assets 9,000 Interest expense 62,000 Net sales 2,192,000 Income tax expense 36,000 Other comprehensive income (net of $1,200 tax) 7,500 Your answer is partially correct. Prepare a multiple-step income statement. Marigold Corp. Income Statement...
For its fiscal year ending October 31, 2022. Bridgeport Corp. reports the following partial data shown below. Income before income taxes $448,200 Income tax expense (20% * $348,600) 69.720 Income from continuing operations 378.480 Loss on discontinued operations 99,600 Net income $278.880 The loss on discontinued operations was comprised of a $41,500 loss from operations and a $58.100 loss from disposal. The income tax rate is 20% on all items. Prepare a correct statement of comprehensive income, beginning with income...
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...
partial data shown below For its fiscal year ending October 31, 2017, Bramble Corp. reports the following Income before income taxes Income tax expense (17%x $467,000) 79,390 Income from continuing operations $643,000 563,610 128,300 Net income The loss o discontinued operations was comprised of a $59,900 loss from operations and a $68,400 loss from disposal. The income tax rate Prepare a cocrect statement of comprehensive income beginning with income before income taxes 17% on all terms BRAMBLE CORP Statement of...
OURCES Your answer is partially correct. Try again. For its fiscal year ending October 31, 2017, Haas Corporation reports the following partial data shown below. Income before income taxes Income tax expense (18% x $412,000) Income from continuing operations Loss on discontinued operations Net Income $512,000 74,160 437,840 100,000 $337,840 by Study The loss on discontinued operations was comprised of a $55.300 loss from operations and a $44.200 loss from disposal. The income tax rate is 18% on all item...
Question 1 of 1 - / 10 III View Policies Current Attempt in Progress Waterway Corp. has 150,600 shares of common stock outstanding. In 2020, the company reports income from continuing operations before income tax of $1,233,800. Additional transactions not considered in the $1,233,800 are as follows. 1. 2. In 2020, Waterway Corp. sold equipment for $37,700. The machine had originally cost $81,400 and had accumulated depreciation of $30,400. The gain or loss is considered non-recurring. The company discontinued operations...
Question 5 View Policies Show Attempt History Current Attempt in Progress In its income statement for the year ended December 31, 2022, Marigold Corp.reported the following condensed data, Operating expenses $ 713,000 Interest revenue $ 25,000 Cost of goods sold 1,248,000 Loss on disposal of plant assets 9,000 Interest expense 62,000 Net sales 2,192,000 Income tax expense 36,000 Other comprehensive income (net of $1,200 tax) 7,500 Your answer is partially correct. Prepare a multiple-step income statement. Marigold Corp. Income Statement...
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