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Bezzdna [24]
3 years ago
12

On August 1, 2016, Rocket Retailers adopted a plan to discontinue its catalog sales division, which qualifies as a separate comp

onent of the business according to GAAP regarding discontinued operations. The disposal of the division was expected to be concluded by June 30, 2017. On January 31, 2017, Rocket's fiscal year-end, the following information relative to the discontinued division was accumulated: Operating loss February 1, 2016 – Jan. 31, 2017 $132,000 Estimated operating losses, Feb. 1 – June 30, 2017 84,000 Impairment of division assets at Jan. 31, 2017 25,000 In its income statement for the year ended January 31, 2017, Rocket would report a before-tax loss on discontinued operations of:
Business
1 answer:
salantis [7]3 years ago
7 0

Answer:

before-tax loss on discontinued operations = $157,000

Explanation:

Operating loss February 1, 2016 - January 31, 2017, $132,000

Impairment of division assets at January 31, 2017, $25,000

Rocket retailers must report a before tax loss = $132,000 + $25,000 = $157,000

Since the income statement is presented on January 31, 2017, it can only include the loss incurred until that date. Any estimated future losses will be included in future income statements.

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To choose the best training method, a company should consider such factors as the number of people to be trained, the cost of tr
Nikitich [7]

Answer:

TRUE

Explanation:

Training and development describes the formal, ongoing effort that are made within organizations to improve the performance and self-fulfillment of their employees through a variety of educational methods and programs.

In order to choose the best training method, there are some factors that a company should consider. These factors include:

Number of people to be trained: people can learn more effectively in small groups, and, consequently, less effective in larger ones.

The cost of training: training budget is very essential in the decision process because training can take a lot of resources: money, materials, equipments e.t.c)

The objectives of training: the goal or objectives will vary depending on the organization and the kind of activities the organization plans to do during work.

Therefore, it is TRUE that to choose the best training method, a company should consider such factors as the number of people to be trained, the cost of training, and the objectives of the training.

8 0
3 years ago
Holmes Company produces a product that can be either sold as is or processed further. Holmes has already spent $60,000 to produc
lozanna [386]

Answer:

Holmes should sell process the product further, because the profit if process further is higher than sell product now.

Explanation:

Net profit if sell product now is $37,500 ( = sales to another manufacturer $97,500 – already spent $60,000)

Sales as in process further/ Incremental Accounting

Sales: $695,125 (=$415 x 1,675 units)

Additional Process costs: $485,570 (=$290 x 1,675 units)

Net profit if process further = total sales $695,125 – already spent $60,000 – additional process cost $485,570 = $149,555, higher than profit $37,500 if sell now.

6 0
2 years ago
Amy, a baker, has found her dream home, but cannot afford the down payment. Amy’s brother agrees to loan her $3000 for the down
Kitty [74]

Answer:

$0 because an agreement to accept different performance in lieu of full payment of liquidated debt is binding.

Explanation:

Since there is an agreement between Amy, a baker, and her brother, she owes him $0.

At first, Amy gets a loan of $3,000 from her brother to pay for her dream home. She agrees to pay him back in one year, and that agreement was binding. During the time to pay back the loan, Amy offers to bake her brother's wedding cake instead of paying back the loan and her brother accepts. This has presented a new agreement that overrules the previous agreement. Now instead of paying back the $3,000, she would bake a wedding cake for him. This implies that the wedding cake is equal to $3,000.

Therefore, she owes him $0.

4 0
3 years ago
The benefits of effective listening are:
den301095 [7]
One benefit is that you are helping the other person talk through there problems

strengthen your relationship with that person

Making the other person feel appreciated

Hope this helps you have a great night!!!
5 0
2 years ago
The concept of brainstorming as a function of group decision-making was initially developed to:
Lady bird [3.3K]
Think out of the box
3 0
3 years ago
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