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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

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1. Visit a Web site for a company that sells products or services online. Then go to that company's corporate Web site. Compare
TiliK225 [7]

https://www.goodyear.com/

https://corporate.goodyear.com/

-Corporate offers a LICENSE PRODUCTS APPLICATION page

-Corporate includes sponsorship information

-Non corp is simplified, less busy website layout

-

6 0
3 years ago
Read 2 more answers
Seaside issues a bond with a stated interest rate of 10%, face value of $50,000, and due in 5 years. Interest payments are made
mars1129 [50]

Answer:

Total $46,319.9565

Explanation:

We need to calculate the value of the present value of the bond payment

and the maturity using the current market rate

C \times \frac{1-(1+r)^{-time} }{rate} = PV\\

C 2500 (50,000 x 0.10/2)

time 10 (5 years 2 payment per year)

rate 0.06     (12% annual --> divide by 2 to convert semiannual)

2500 \times \frac{1-(1+0.06)^{-10} }{0.06} = PV\\

PV $18,400.2176

\frac{Maturity}{(1 + rate)^{time} } = PV

Maturity 50000

time 10

rate           0.06

\frac{50000}{(1 + 0.03)^{10} } = PV

PV   $27,919.7388

PV bond interest payment  $18,400.2176

PV maturity payment       $27,919.7388

Total $46,319.9565

3 0
3 years ago
You only need to wear personal protective equipment (PPE) if you've never worked on your type of lift before.
8_murik_8 [283]

Answer:

False

Explanation:

Accidents can happen no matter your experience level. Always wear PPE

6 0
3 years ago
Read 2 more answers
Promotions that are designed to increase product availability in distribution channels are known as:
Gnoma [55]

The question is incomplete:

Promotions that are designed to increase product availability in distribution channels are known as:

A) sales promotions.

B) price promotions.

C) trade sales promotions.

D) consumer sales promotions.

E) non-price promotions.

Answer:

C) trade sales promotions.

Explanation:

-Sales promotions is when companies give customers an incentive to try or buy the product.

-Price promotions is when companies decrease the price of the product to encourage people to purchase it.

-Trade sales promotions is an incentive given to intermediaries in the distribution channel to increase the sales by having the product available.

-Consumer sales promotions is when companies use different techniques like coupons and prizes to get customers to buy the product.

-Non-price promotions refers to offering customers incentives different to the price to encourage them to purchase the product.

According to this, the answer is that promotions that are designed to increase product availability in distribution channels are known as: trade sales promotions because companies offer incentives to their intermediaries to have the product available.

7 0
3 years ago
Use library or internet resources to locate an article or a case involving one of the following topics (please only pick one; do
horrorfan [7]
I would say a hope that helped
5 0
3 years ago
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