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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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Indicate the effect of each of the following transactions on total assets, total liabilities, and total stockholdersâ equity. Se
Scorpion4ik [409]

Answer:

Transaction                       Assets            Liabilities        Stockholders' Equity

Issue common stock           Increase               NE                      Increase

Issue preferred stock         Increase               NE                      Increase  Purchase treasury stock     Decrease             NE                       Decrease

Sale of treasury stock         Increase              NE                        Increase  Declare cash dividend            NE                   Increase                   NE

Pay cash dividend               Decrease            Decrease NE

100% stock dividend              NE                        NE                      NE

2-for-1 stock split                    NE                       NE                         NE

When shares are sold or issued, they increase the stockholders equity as people buy these shares. They also increase assets because cash comes into the company when the shares are sold. This is why the Issuing of preference and common stock as well as the sale of Treasury shares had the same effects.

When cash dividends are declared, they become a liability that is owed to equity holders.

When these dividends are then paid, they remove the liability but reduce assets as cash is used to pay the dividends.

100% stock dividend reduces retained earnings but increases equity so stockholders equity does not change.

8 0
2 years ago
On June 1, Edward visited a bicycle sales and service center. Edward spotted a used bike he liked and was told by the dealer tha
Salsk061 [2.6K]

Answer:

"Yes" will be the correct response.

Explanation:

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5 0
3 years ago
"Melinda!" bellowed Torn to the company’s HR specialist, "I’ve got a problem, and you’ve got to solve it. I can’t get people in
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Answer: Yes training is the solution, training is the effort made by the organization in order to provide their workers with the basic skills needed to ensure the efficiency of the work done in the organization. b.To improve productivity, to solve operational problems, to reduce wastage of materials, to boost employees morale. C. Identify training need, define programme objective, design training programme, implement training programme, monitor feedback during couse

Explanation:

a.

Training can be defined as the effort made by the organization in order to provide their workers with the basic skills needed to ensure the efficiency of the work done in the organization. The main objective of training is to achieve a change in behaviour of those workers trained. Training help the workers to acquire technical knowledge and the problems solving skills in which they can utilized on the job in order to achieve the organizational goals and objectives.

b. The need for training includes the following

1. To improve productivity on the part of both the employees and the organization

2.Training helps in solving operational problems such as reduction in the accident in the workplace, Labour turnover, absenteeism, and grievances rate in the workplace.

3. Training help the organization in reducing the wastage of materials used in the production of goods as well as to ensure better utilization of machines used in production of goods.

4. Training helps in boosting the morale of the workers in the organization, in the sense that as the workers acquired new skills it will make them a better workers which increase their market value and enhanced their earnings power which in the long run lead to job security and self actualization for the workers.

5. Training helps in filling the vacancy for specific manpower need which is crucial to the organization survival but which is very difficult to fill through the external recruitment process

6.Training helps in formation of new altitudes for the workers which will help the workers to contribute their quota towards the achievements of the organizational goals and objectives.

c. The summary of the need assessment include the following

1 . Identify the training needs

2. Define the programme objective

3. Design training programme

4.implement training programme

5. Monitor feedback during the course of training

6. Place training participants back on their jobs

7. Conduct post course evaluation to determined the benefits of the training programme.

7 0
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<span>A map made to show the distribution of one or more phenomenon is a THEMATIC map. A thematic map emphasizes a distinct characteristic over the map, showing which regions are more susceptible to it.</span>
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Daniel has decided to open his own bakery using locally sourced ingredients and supplies. He provides income and jobs to local s
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Answer:

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