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lapo4ka [179]
3 years ago
9

The Claxton Company manufactures children's toys and also has a division that makes automobile parts. Due to a change in its str

ategic focus, the company sold the automobile parts division. The division qualifies as a component of the entity according to GAAP. How should Claxton report the sale in its 2016 income statement?
a. Report the income or loss from operations of the division in discontinued operations.
b. Report it as a discontinued operation.
c. Report it as restructuring costs.
d. Report it as a gain on sale of investments included in income from continuing operations.
Business
1 answer:
Kryger [21]3 years ago
8 0

Answer:

B. Report it as a discontinued operation.

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Tyrone Northrup pays monthly rent of $1,240 for a one-bedroom apartment in a large city. He pays an extra monthly charge of $160
Leona [35]

Answer:

$18,910.00

Explanation:

Monthly rent $1240

Extra monthly charge $160

Electricity $90

Other utilities $860 per year

Insurance $170 per year

The monthly rent per year will be

=$1240 x 12

=$14,880

Parking charges per year

=$160 x 12

=$1,920

Electricity charges per year

=$90 x 12

=$1,080

Other utilities per year

=$860

Insurance per year

=$170

The annual cost will be

=$14,880 + $1,920 + $1,080 + $860 + $170

=$18,910.00

8 0
3 years ago
If the variable overhead efficiency variance is $500 unfavorable and the variable overhead spending variance is $100 favorable,
Vera_Pavlovna [14]

Answer:

a. Debit to variable overhead efficiency variance

d. Credit to variable overhead spending varian

Explanation:

Based on the information given in a situation where a variable overhead efficiency variance is UNFAVORABLE it will be DEBITED and variable overhead spending variance that is FAVOURABLE will be CREDITED.

Therefore the journal entry will include a:

a. Debit to variable overhead efficiency variance

d. Credit to variable overhead spending Variance

7 0
2 years ago
The management staff of a busy cafeteria have not been getting along well. to increase group cohesiveness, the general manager c
omeli [17]

<span>By criticizing each of the other managers' performance, and the overall operation of the cafeteria, the attempt of the general manager improve group cohesiveness among the management staff is based on the principle of OUTSIDE PRESSURE, which posits that groups that are pressured by outside forces tend to be more cohesive.</span>

4 0
3 years ago
Miguel was asked to improve his company's report format. Many employees and clients found the reports hard
VLD [36.1K]

In order to increase the readability, Miguel can use:

  • Shorter lines.
  • Columns.
  • Boxes.

<h3>Improving readability </h3>

Miguel can use shorter lines so that the chances of people getting lost when reading a sentence is reduced. He can also present the information in different columns for more organization.

Another way to organize the information can be in boxes. These can explain concepts away from the text so that the report is less cluttered.

In conclusion, there are several ways to increase readability.

Find out more on readability at brainly.com/question/3923453.

7 0
2 years ago
The June 30, 2021, year-end trial balance for Askew company contained the following information: Account Debit Credit Inventory,
user100 [1]

The cost of goods sold for the Askew Company for the year ending June 30, 2021 is $233,000.

Using this formula

Cost of goods sold=Beginning Inventory+ Net purchases- Ending Inventory

Where:

Beginning Inventory=$32,000

Net purchases=($240,000-$6,000-$10,000+$17,000)=$241,000

Ending Inventory=$40,000

Let plug in the formula

Cost of goods sold=$32,000+$241,000-$40,000

Cost of goods sold=$233,000

Inconclusion the cost of goods sold for the Askew Company for the year ending June 30, 2021 is $233,000.

Learn more here:

brainly.com/question/15708509

4 0
2 years ago
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