1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Aleksandr [31]
3 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]3 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

You might be interested in
Breezeless Company produces doors and window frames. It generates profit at $2.00 per door and $1.00 per window frame. Manufactu
nevsk [136]
So all you do it go to the answer key a question like that
6 0
3 years ago
Ferris Corporation makes a powdered rug shampoo in two sequential departments, Compounding and Drying. Materials are added at th
masha68 [24]

Answer:

Materials = 44,000

Conversion = 40,800

Explanation:

<em>Step 1 Determine the Number of Closing Work In Process Units</em>

Closing Work In Process Units = Opening Work In Process Units + Units started in process - Units transferred out

                                                   = 6,000 + 38,000 - 36,000

                                                   = 8,000

<em>Step 2 Determine the equivalent units for March 2019</em>

<u>Materials :</u>

<em>Note : Materials are added at the be-ginning of the process, therefore Units Transferred Out and Closing Work In Process are 100% complete in terms of materials</em>

Closing Work In Process Units - 100% =  8,000

Units transferred out - 100%                 = 36,000

Total equivalent units                           = 44,000

<u>Conversion :</u>

<em>Note : Ending work-in-process was 60% processed, therefore 60% completed in terms of conversion costs</em>

Closing Work In Process Units - 60%  =  4,800

Units transferred out - 100%                 = 36,000

Total equivalent units                           = 40,800

7 0
3 years ago
Question 25
telo118 [61]

Answer:

False

Explanation:

6 0
3 years ago
"Liberty may be endangered by the abuse of liberty, but also by the abuse of power."—James Madison Which of the following statem
Alex73 [517]

Answer:

James Madison is known as the Father of the Constitution, and he worked very hard to limit the powers of the government branches, so that no government branch would be more powerful than the other two. He was a great supporter of the Bill of Rights, which also limited the power of the government towards the citizens of the nation.  

This specific quote refers to the checks and balances system that prevents any of the three branches of the US government; executive, legislative and judicial, from becoming too powerful.

5 0
3 years ago
Brunette Company is contemplating investing in a new piece of manufacturing machinery. The amount to be invested is $180,000. Th
diamong [38]

Answer:

No,  as the net present value comes in negative

Explanation:

As we know that

Net present value = Present value of cash inflows - Initial investment

where,

Present value os $163,000

And, the initial investment is $180,000

Now placing these values to the above formula

So, the net present value is

= $163,000 - $180,000

= -$17,000

Therefore the company should not accept the project as net present value is in negative that is -$17,000

6 0
3 years ago
Other questions:
  • One of the benefits of career planning as a young adult is
    5·1 answer
  • ____ refers to how the organization meets goals and deals with outsiders
    8·2 answers
  • Corporate taxes Tantor​ Supply, Inc., is a small corporation acting as the exclusive distributor of a major line of sporting goo
    11·1 answer
  • Based on the interdependence of the four types of salesperson goals, what should a salesperson's sales call goals be based on?
    5·1 answer
  • When Kimberly begins working for Pharmco Industries the company tells her that at a future after so many years of employment wit
    13·1 answer
  • Which of the following is true about finding the present value of cash flows? Finding the present value of cash flows tells you
    14·1 answer
  • Review and evaluate is an important step in the risk management process because conditions change and mistakes may be identified
    15·1 answer
  • Economists use the term inflation to describe a situation in which a. some prices are rising faster than others. b. the economy'
    9·1 answer
  • Gabriele Enterprises has bonds on the market making annual payments, with nine years to maturity, a par value of $1,000, and sel
    9·1 answer
  • Throughout human history we know that Group of answer choices all countries will eventually return to very low levels of real GD
    6·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!