Answer:
$1,820,000
Explanation:
Calculation to determine at what amount did LeBron's Bookstores report the discontinued operations
Using this formula
Discontinued operations=Net sales-Cost of goods sold -operating expenses - Income tax expense -After taxes
Let plug in the formula
Discontinued operations= $ 14 million-$8 million-$3 million-$900,000-$280,000
Discontinued operations=$1,820,000
Therefore what amount did LeBron's Bookstores report the discontinued operations will be $1,820,000
Answer: True
Explanation: The retained earnings are recorded after closing the accounts of the income statement, the surplus called profit or the missing called loss is transferred to equity through the non-distributed profit item.
This undistributed profit account also closes during the accounting period, to clarify how much was generated in a period, they are not like the balance sheet accounts that are cumulative.
Insurance products are viable and relevant to individuals because people worry about their medical expenses becoming too high for them to be able to afford. Businesses, on the other hand, need to protect their important investments and assets in order to preserve the business.<span />
Answer:
<em>Adjustments to expense accounts at the end of the accounting period are made to adhere to accrual accounting principles, specifically the </em><em><u>revenue</u></em><em><u> </u></em><em><u>recognition</u></em><em> principle.</em>
