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
kirza4 [7]
3 years ago
7

During 20x8, a firm discontinued a component qualifying for separate disclosure within the income statement. The disposal was co

mpleted before the end of 20x8 and resulted in a $300 disposal gain. The component earned $400 in 20x7 but lost $100 (negative income) in 20x8. The 20x7 income statement reported income from continuing operations (IFCO) of $6,000. The 20x8 income statement reported $7,000 of net income. Determine the following two amounts:
IFCO for 20x7 as it is reported comparatively in the 20x8 statements
IFCO for 20x8
Business
1 answer:
MAVERICK [17]3 years ago
4 0

Answer:

  1. IFCO for 20x7 as it is reported comparatively in the 20x8 statements  = $5,600
  2. IFCO for 20x8 = $6,800

Explanation:

1) IFCO for 20x7 as it is reported comparatively in the 20x8 statements, should not include the $400 operating income from the component = $6,000 - $400, or $5,600.

2) IFCO for 20x8 should not include the gains resulting from the disposal of the component nor the losses generated by it = $7,000 - $300 + $100 = $6,800

You might be interested in
Carmen Co. can further process Product J to produce Product D. Product J is currently selling for $20 per pound and costs $15.75
Vedmedyk [2.9K]

Answer:

a. Differential revenue = $18 per pound

Explanation:

Differential revenue refers to additional revenue per unit.

Current revenue per unit = $20 - $15.75 = $4.25 per unit on Product J

When it will be further processed to form Product D

Net proceeds to be realized from each unit of product D = $38

Net revenue = $38 - $24.30 = $13.7

Additional or differential revenue = $38 - $20 = $18 per unit

As for $20 selling price the revenue was recognized earlier now additional revenue = $38 - $20 = $18 per pound

Note: Revenue is the proceeds from sale and not the net profit.

Differential revenue = $18 per pound

6 0
3 years ago
Ski Safety sells emergency safety and rescue products to ski patrols and rescue workers at prices that are below those of its co
UkoKoshka [18]

Answer: Cost focus strategy

Explanation:

 The cost focus strategy is one of the type of business strategy in which the various types of companies or organizations are try to expand their marketing segments and also emphasizing the cost in the market.  

 The cost focus strategy is one of the important element and component  of the generic marketing strategy in the market.  

According to the given question, the ski safety selling the various types of products for the rescue purpose and it outlining the main objective and start selling on the basis of emergency at very high cost.

Therefore, Ski safety is basically pursing the cost focus strategy.

8 0
3 years ago
Can poor ethics lead to criminal behavior?
Paladinen [302]

Answer:

Yes, because they lead people to make poor decisions.

Explanation:

7 0
3 years ago
Read 2 more answers
Which of the following items is the one type of household expenditure that is categorized as investment rather than consumption
Simora [160]

Answer:

a. the purchase of a new home 

Explanation:

Gross domestic product is the sum of all final goods and services produced in an economy within a given period which is usually a year

GDP calculated using the expenditure approach = Consumption spending by households on durable and non durable goods + Investment spending by businesses + Government Spending + Net Export

The purchase or a new home is considered an investment and thus it is added to investment when calculating GDP .

I hope my answer helps you

4 0
3 years ago
Read 2 more answers
Recent corporate scandals that have shaken the public's faith in business leadership have brought increased attention to what ar
Shalnov [3]

Answer:

correct option is B) Ethical leadership

Explanation:

solution

area of leadership is Ethical leadership

An ethical leader is who respect ethical belief and the value for dignity and rights of other  

he always concerns with moral development and virtuous behaviour of others

and Ethical leader mantra is always doing the right things even it hurts  

so here the correct answer is B) Ethical leadership

8 0
2 years ago
Other questions:
  • TJ's and Corner Grocery are all-equity firms. TJ's has 2,500 shares outstanding at a market price of $16.70 a share. Corner Groc
    7·1 answer
  • Windsor Co. is building a new hockey arena at a cost of $2,420,000. It received a down payment of $510,000 from local businesses
    5·1 answer
  • All of the following are examples of qualitative information that should be collected by the financial planner EXCEPT: a. Genera
    14·1 answer
  • _____ must verify in writing the accuracy of their corporation's financial statements.
    15·1 answer
  • Suppose that last year the equilibrium price and the quantity of good X were $10 and 5 million pounds, respectively. Because of
    15·1 answer
  • When a home is hit with a assessment to pay for an improvement in the neighborhood such as sidewalk repair, or paving a road, or
    14·1 answer
  • Which of the following statements is FALSE?
    12·1 answer
  • Choose the scenarios provided that would cause an increase in the cell phone quantity produced based on the law of supply.
    5·1 answer
  • Which method of backing up digital photographs involves physical storage of files?
    13·1 answer
  • Because of the tvm concepts learned in this topic, you should _________ receiving $1,000 in 1 year if given the opportunity to r
    10·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!