Answer:
Option (A) $180,000
Explanation:
The amount of income tax expense has to be reported by the provincial is shown as
$600,000 × 30% = $180,000
Income tax benefits of ($100,000 × 30% = $30,000) should be disclosed separately in the discontinued operations section of income statement.
Therefore, the correct answer is option (A) $ 180,000.
Answer:
levi from attack on titan
Explanation:
Answer:
The question requires that you show the effect of the previous transactions on a statements model. Since there is not enough room here, I prepared the attached excel spreadsheet.
Independently owned firms that take title to the merchandise they handle, are classified as either full-service or limited-service, and go by names like industrial distributors are known as merchant wholesalers.
<h3>What are merchant wholesalers?</h3>
Merchant wholesalers are described as independent businesses that sell goods after purchasing them from the manufacturers. It is important to mention that the merchant wholesalers are the one that purchases goods and sells them to other third parties. Merchant wholesalers form an important part of indirect sales.
The merchant wholesalers are the ones that purchase the goods, store them, and handle them physically in bulk quantities. The merchant wholesalers sell the goods to the other retailers, but only in small quantities.
It can be concluded that independently owned firms that take title to the merchandise they handle, are classified as either full-service or limited-service, and go by names like industrial distributors are known as merchant wholesalers.
To know more about, wholesale retailers, check this link:
brainly.com/question/2728195
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Answer:
Gross profit= $450,000
Explanation:
Giving the following information:
December 31:
Finished goods inventory, January 1 $ 30,000
Finished goods inventory, December 31 90,000
The cost of goods manufactured during the year amounted to $1,260,000
Annual sales were $1,650,000.
Gross profit= Sales - cost of goods sold
cost of goods sold= beginning finished inventory + cost of goods manufactured - ending finished inventory= 30000 + 1260000 - 90000= 1,200,000
Gross profit= 1650000 - 1200000 = $450,000
