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emmasim [6.3K]
3 years ago
7

On November 1, 2021, Jamison Inc. adopted a plan to discontinue its barge division, which qualifies as a separate component of t

he business according to GAAP regarding discontinued operations. The disposal of the division was expected to be concluded by April 30, 2022. On December 31, 2021, the company's year-end, the following information relative to the discontinued division was accumulated:
Operating loss Jan. 1–Dec. 31, 2021 $67 million
Estimated operating losses, Jan. 1 to April 30, 2022 99 million
Excess of fair value, less costs to sell, over book value at Dec. 31, 2021 16 million

In its income statement for the year ended December 31, 2021, Jamison would report a before-tax loss on discontinued operations of:

a. $150 million.
b. $166 million.
c. $51 million.
d. $67 million.
Business
1 answer:
skad [1K]3 years ago
7 0

Answer:

d. $67 million.

Explanation:

The asset is not impaired because the fair value is higher than the book value. Therefore, the only operating loss of $67,000,000 can be reported.

Particulars                                                           Amount

Operating Loss(Jan 1 to 31 Dec 2021              $67,000,000

Before Tax loss on discontinued operation   $67,000,000

Hence, Jamison would report a before-tax loss on discontinued operations of $67,000,000.

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Answer:

d. Google Ads gives you control over your budget.

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3 years ago
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natita [175]

Factory built Housing is a generic term that includes any form of housing that is manufactured by precision techniques in a factory setting and then transported to the building site for final assembly.

<h3>What is Factory built Housing?</h3>

Factory-Built Housing  can be described as the  residential building as well as  dwelling unit and it can as well be regarded as the individual dwelling room where parts can be stored.

It should be noted that this could be the  combination of rooms,  as well as the building components, assembly,  which help to concealed parts or processes of manufacturing before installation.

Hence , Factory built Housing is a generic term that includes any form of housing that is manufactured by precision techniques in a factory setting and then transported to the building site for final assembly.

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CHECK THE COMPLETE QUESTION:

---------------housing is a generic term that includes any form of housing that is manufactured by precision techniques in a factory setting and then transported to the building site for final assembly.

5 0
2 years ago
What is the present value of the following cash flows at a discount rate of 9 percent?
frutty [35]

Answer:

Year 1 PV = 91,743.12

Year 2 PV =126,251.99

Year 3 PV =  154,436.70  

Explanation:

<em>The present value of future sum is the amount that ought to be invested today at interest rate compounded annually to equal the sum at the end of a particular period.</em>

The present value of a future sum is given as follows:

PV = FV × PV (1+r)^(-n)

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r- interest rate

n- number of years

Year 1 PV = 100,000× 1.09^(-1) =91,743.12

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Year 3 PV = 200,000× 1.09^(-3) =  154,436.70  

4 0
3 years ago
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Answer:

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Long-term capital gains are those obtained from the sale of property that was owned for more than one year, and are treated with more favorable tax rates.

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5 0
3 years ago
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