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
jeyben [28]
3 years ago
10

On May 31, 20X1, the Arlene Corporation adopted a plan to sell its cosmetics line of business, considered a component of the ent

ity. By the end of the year, the assets have not been sold. The book value of those assets equals $1,100,000, and the company estimates their fair value to be $850,000. The component generated operating income for the year of $450,000. In its income statement for the year ended December 31, 20X1, for what amount would the company report income from operations of a discontinued component (ignoring taxes).
Business
1 answer:
nadya68 [22]3 years ago
6 0

Answer:

$450,000

Explanation:

Note: In the given case there is no actual sale of the cosmetic line, it is still continued.

Therefore, there will be no realized gain or loss to be recorded in the books as the company did not even enter into any agreement to such sale.

But as the company is going to discontinue the note shall form part, as will affect the going concern concept for the component.

Therefore, entire amount earned from such operation of cosmetic line shall be reported as earnings from Discontinued operations.

Amount earned from operations of cosmetic line = $450,000, now, this shall be income from operations of discontinued component.

You might be interested in
According to the diversification-for-stability argument, why should some nations impose protective tariffs and import quotas
Artyom0805 [142]

Their economies are highly specialized and depend on international trade for their income.

<h3>What is  income?</h3>

Income is the consumption and saving opportunity gained by an entity over a given time period, which is usually expressed in monetary terms. Income is difficult to define conceptually, and definitions vary across fields.

Income is defined as the amount of money received by a person, group, or company over a specific time period. A salary of $70,000 per year is an example of income.

Income is money received by an individual or business in exchange for labor, the production of a good or service, or the investment of capital. Individuals typically earn money through wages or salaries, whereas businesses make money by selling goods or services for more than their cost of production.

To know more about  income follow the link:

brainly.com/question/25895372

#SPJ4

5 0
2 years ago
This case explores some issues related to entering a new foreign market and describes the strategies that one UK firm is using t
gizmo_the_mogwai [7]

Answer:  Megabus being a late mover in the US, has allowed the company to learn from past mistakes by companies such as Greyhound, who filed for bankruptcy in the mid 90's and who lost most of it's business due to poorly maintained terminals, high prices for fares and unsafe conditions. Mega bus's advantages include fares as lows as 1 dollar, free wi-fi, stylish buses and power outlets. They Can offer these low fares since the company eliminated purchase Windows for tickets, selling tickets online only and by eliminating expensive terminal operations by dropping off and picking up riders at sidewalk stops like public bus operators. There are few disadvantages besides the fact that rising gas prices affect travel and low fare prices affect revenue if quantity is not met   .

Advantages - 1. Affordable  2. Pretty scenery 3.You get what you paid for

Disadvantages-1. Uncomfortable 2. It’s Either Freezing or Sweltering  3. Odd People

2. Yes it has own Overwhelming resources and capabilities  3. Train

Explanation:

4 0
3 years ago
In carrying out market research for a locality, you collect data on income levels, life style characteristics,
Mariana [72]

The correct answer is letter D.<span>

<span>The description above is an example of a collection of demographic information. This refers to characteristics of a certain population in particular geographic location. Race, gender, age, profession, among others, are typical examples of demographics that are commonly used in surveys. </span></span>

5 0
4 years ago
10. Barbara Inc. is working on its cash budget for June. The budgeted beginning cash balance is $16,000. Budgeted cash receipts
katrin [286]

Answer: $17,000

Explanation:

Given that,

Budgeted beginning cash balance = $16,000

Budgeted cash receipts total = $188,000

Budgeted cash disbursements total = $187,000

Desired ending cash balance = $40,000

The excess (deficiency) of cash available over disbursements for June will be:

= Beginning cash balance + Cash receipts - Cash disbursements

= $16,000 + $188,000 - $187,000

= $17,000

5 0
3 years ago
Concepts like value and relationship marketing are important in designing a marketing program because such a program is what con
Andre45 [30]

Answer:

<em>Concepts like value and relationship marketing are important in designing a marketing program because such a program is what connects an organization to </em><em><u>it's costumer</u></em>

8 0
3 years ago
Other questions:
  • When mr. jones, the owner of a local hardware store, asks one of his lawnmower suppliers about the total ability of their produc
    8·1 answer
  • Suppose that every time a fund manager trades stock, transaction costs such as commissions and bid–ask spreads amount to 0.4% of
    13·1 answer
  • Stark Company's most recent balance sheet reported total assets of $1.82 million, total liabilities of $0.84 million, and total
    5·1 answer
  • A four-year bond has an 8% coupon rate and a face value of $1000. If the current price of the bond is $878.31, calculate the yie
    9·1 answer
  • On January 1 2016, Paulus Company purchased 75% of Sweet Corporation for $500,000. Sweet’ stockholders’ equity on that date was
    14·1 answer
  • Suppose GDP consists of wheat and rice. In 2015, 20 bushels of wheat are sold at $4 per bushel, and 10 bushels of rice are sold
    5·1 answer
  • Which of the following techniques can be used to narrow options for increased decision-making effectiveness? A. Applying differe
    9·1 answer
  • Consider a process consisting of three resources. Assume there exists unlimited demand for the product, and that all activities
    12·1 answer
  • You have invested $1,000 in an account that promises APY of 3 percent per year. Assuming you leave the original investment and a
    15·1 answer
  • Wyatt is paying back a loan with a nominal interest rate of 13. 62%. If the interest is compounded quarterly, how much greater i
    11·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!