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kvasek [131]
3 years ago
9

On November 1, Year 2, Smith Co. contracted to dispose of an industry segment on February 28, Year 3. Throughout Year 2, the seg

ment had operating losses. These losses were expected to continue until the segment's disposition. Which of the following losses should be included in discontinued operations reported in Smith's Year 2 income statement?
I. Operating losses for the period January 1 to October 31, Year 1.
II. Operating losses for the period November 1 to December 31, Year 1.
III. Estimated operating losses for the period January 1 to February 28, Year 2.


a. II and III only.
b. I and II only.
c. II only.
d. I and III only.
Business
1 answer:
Mars2501 [29]3 years ago
5 0

Answer:

Choice "B" is correct. The operating losses to be included in Smith's Year 1

Explanation:

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A partnership has the following capital balances: Comprix (40% of gains and losses) $ 180,000 Heflin (30%) 280,000 Kaplan (30%)
MrRissso [65]

Answer:

$210,000 is the capital balance of Heflin after acquisition by Mahar

Explanation:

In this question we are asked to calculate the capital balance of Heflin given the data in the above question.

Firstly, we identify the capital account of Heflin before the acquisition. From the question, this is equivalent to a value of $280,000

Now, we calculate the proportionate capital transferred. That is same as 25% of the total; 25/100 * 280,000 = $70,000

The ending capital of Heflin after acquisition would be mathematically = Capital account of Heflin before admission - Ending capital of Heflin after admission= $280,000 - $70,000 = $210,000

8 0
3 years ago
This business pays income taxes on the sales of its products each year.<br> This is:
coldgirl [10]

Explanation:

what is the question??

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3 years ago
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"In about 100 words, summarize the advantages and disadvantages of using a mall-style commerce service provider such as eBay Sto
son4ous [18]

Answer:

here are summarised  advantages and disadvantages of using mall style commerce service provider .

ADVANTAGES

  • it makes online payment processing very much possible
  • provision of internet connection
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  • provision of shopping cart software's
  • one time set-up fee is being charged compared to other service provider who charges differently usually monthly fees.

DISADVANTAGES

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Explanation:

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An increase in input costs in the production of electric automobiles caused the price of electric automobiles to rise. Holding e
Tanzania [10]

Answer:

4. The demand for gasoline-powered automobiles would increase and the equilibrium price of gasoline-powered automobiles would increase.

Explanation:

Substitute goods are goods that can be used in place of each other.

If the price of electric automobiles rises, the automobile becomes more expensive for consumers. Consumers would reduce the quantity demanded of the electric automobile and shift its demand to gas powered automobiles.

As a result, the demand for gas automobiles increases and the equilibrium price would increase too.

I hope my answer helps you

8 0
3 years ago
In eight years, when he is discharged from the Air Force, Steve wants to buy a $30,000 power boat. Click here to view Exhibit 12
IceJOKER [234]

Answer:

The correct answer is:

(1) $15,054

(2) $12,990

Explanation:

The required table is not given in the question. Please find below the attachment of the table.

Given:

Future value,

= $30,000

If discounting rate is 9%, the present value will be:

= Future \ value\times PV \ factor(9 \ percent, 8 \ years)

= 30000\times (\frac{1}{1.09} )^8

= 30000\times 0.5018

= 15,054 ($)

If discounting rate is 11%, the present value will be:

= Future \ value\times PV \ factor(11 \ percent, 8 \ years)

= 30000\times (\frac{1}{1.11} )^6

= 30000\times 0.433

= 12,990 ($)

8 0
3 years ago
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