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Katen [24]
3 years ago
8

On June 30 Gomez Corporation discontinued its operations in Mexico. On September 1 Gomez disposed of the Mexico facility at a pr

etax loss of $680,000. The applicable tax rate is 25%. Show the discontinued operations section of Gomez's income statement.Discontinued OperationsLoss on disposal of Mexico facility, net of $ 170,000 tax $_____?_______
Business
1 answer:
Kipish [7]3 years ago
4 0

Answer:

- $510,000

Explanation:

Discontinued Operations:

Pretax Loss = $680,000

Applicable tax rate = 25%

After Tax Loss = Pretax Loss × (100% - Applicable tax rate)

                        = $680,000 × (100% - 25%)

                        = $680,000 × 75%

                        = - $510,000

Loss on Disposal of Discontinued Operations = - $510,000

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Answer: Statement B and D

Explanation:

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3 years ago
2 points Time Remaining 23 minutes 4 seconds00:23:04 eBookItem 7 Time Remaining 23 minutes 4 seconds00:23:04 On April 30, Gomez
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Answer: $51,400

Explanation:

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3 years ago
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Answer:

The correct answer is:

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