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Aleksandr [31]
2 years ago
12

On May 31, 2018, the Arlene Corporation adopted a plan to sell its cosmetics line of business, considered a component of the ent

ity. The assets of the component were sold on October 13, 2018, for $1,120,000. The component generated operating income from January 1, 2018, through disposal of $300,000. In its income statement for the year ended December 31, 2018, the company reported before-tax income from operations of a discontinued component of $620,000. What was the book value of the assets of the cosmetics component
Business
1 answer:
asambeis [7]2 years ago
5 0

Answer:

$800,000

Explanation:

The calculation of book value of the assets of the cosmetics component is given below:-

Gain on Sale of the Assets = Income from Operation of a Discontinued Components - Income from Operations

= $620,000 - $300,000

= $320,000

Gain/Loss on Sale of Asset = Sale Value of Assets - Book Value of Assets

= $1,120,000 - $320,000

= $800,000

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Answer:

Losses for the producers of Waterworld, if they finished the movie would be <u>$50 million</u>. If they did not finish the movie, losses would be <u>$130 million.</u>

Explanation:

This is because, the difference between all their expenses in making the movie and the revenue generated is actually <em>$50 million</em>. This happens to be their losses while on the other-hand, if they didn't finish making the movie, it would be <em>$130 million </em>(aside the cost spent in finishing the movie after rebuilding the set)

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3 years ago
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2 years ago
Why do some people have a problem with their credit cards?
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3 years ago
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28-In​ 2008, in order to encourage people to spend more money and stimulate the​ economy, Congress passed the American Reinvestm
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The main aim of a fiscal policy is to stabilize the economy while trying to avoid the impact of excessive growth and recessions.

In the question, the government passed a bill that authorized spending on infrastructure, healthcare etc. This was done in order to increase employment and ultimately increase aggregate demand. Hence this is a fiscal policy.

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3 years ago
Baxter Company reported a net loss of $13,000 for the year ended December 31. During the year, accounts receivable decreased by
stepan [7]

Answer:

a. used net cash of $2,000

Explanation:

The preparation of the Cash Flows from Operating Activities—Indirect Method is shown below:

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