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
fomenos
3 years ago
6

On June 30, Cheyenne Corp. discontinued its operations in Mexico. On September 1, Cheyenne disposed of the Mexico facility at a

pretax loss of $625,000. The applicable tax rate is 28%. Show the discontinued operations section of Cheyenne’s statement of comprehensive income.
Business
1 answer:
vazorg [7]3 years ago
4 0

Answer:

net loss is : 450,000

tax = 625,000* 28%= 175,000

Explanation:

discontinued operation: in this case , gain or loss always be shown net of taxes in the income statement

total loss = 625,000

net taxes = 175,000

net loss= 625,000-175,000= 450,000

You might be interested in
Question 1 What forces have caused cost and management accounting systems designed decades ago to become less relevant and less
sergey [27]

Answer to Question 1:

The forces that had lessened the importance of the cost and management accounting systems in today's dynamic world are as under:

  • The ancient bookkeeping and the costing techniques were very time consuming and the accounting systems were also not integrated with the financial accounting systems. Today we have very robust and integrated systems which helps the management of the business operations nation wide with greater security and better performance than the previous old versions.
  • The complexity of the organization operations have resulted in origination of additional management accounting techniques that were adapted in the form of automated software, that are used to produce management reports on daily, weekly, monthly and yearly basis. The examples include the Throughput costing, Activity based costing, Bench-marking techniques, etc.
  • The activities automation has led to attaining of maximum efficiency possible in some areas which wasn't possible in the past. The robots management systems, activity automation, etc has increased the fixed cost share in the total cost and the variable cost has become a very minute share of the total cost of the activity. This variable cost which is often referred to as controllable cost, is very less in percentage share of total cost today than 10 years back. In the future, we will see it as a very very very small share of total cost. This makes the today's management costing techniques obsolete and requires new solutions, new techniques, new softwares, etc. to manage the companies operations.

Answer to Question 2:

The target costing is a costing technique that helps to reduce the cost of the company operations by setting cost targets for the operations. The first step under target costing is to set a selling price for the product and the second step is to set the target profit margin. Now at this position we are able to derive the target cost by taking the difference of profit margin and the selling price of the product. At this stage the actions and reforms required to achieve this target cost are determined and implemented in the current operating activities. The best part of the target costing is that it says that the pricing though matters but the main aspect of a product success is its cost controls. If the company is able to control the cost of the product then it can control the movement of prices in the market. So target costing specially focuses and stresses upon cost control procedures.

As Target costing is all about cost controlling and can be applied to any sector. In Ghana, target costing will help to control the cost of the services that the banking sector renders to its customers. This reduction in services cost can be achieved by automation, installation of new softwares, Investing in automated teller machines, etc. By gaining efficiencies, the banking sector will substantially reduce its cost thus achieving its target cost.

By achieving the target cost the bank will have to sell at the same rate as the bank had invested its time and money in efficiency gaining activities. There are a lot of activities and products that can be automated and that can help to achieve the target cost. For example, promoting internet banking will reduce the cost of ATM management, paper cost, management time, additional branch opening or extension of building, etc. We can see how easily internet banking will assist the banking sector to achieve its target costs.

5 0
3 years ago
A change from straight-line depreciation to double-declining-balance depreciation would be reported as__________.
sertanlavr [38]

A change from straight-line depreciation to double-declining-balance depreciation would be reported as a restatement of the prior period statements only.

The term depreciation refers to an accounting technique used to spread the cost of a tangible or physical asset over its useful life. Depreciation indicates how much of an asset's value has been used. It allows companies to generate income from the assets they own by making payments over a period of time.

Depreciation expense is apportioned to charge a reasonable portion of the depreciation amount for each accounting period over the expected useful life of the asset. Depreciation includes the depreciation of assets with a predetermined useful life.

Learn more about depreciation here:brainly.com/question/1203926

#SPJ4

8 0
1 year ago
chen is looking for information for a speech about starting your own business. what is the best example of a periodical chen mig
Nataly [62]

The best example of a periodical Chen might use as research is the act small sba.gov. Thus option B is correct.

<h3>What is Research?</h3>

Research refers to deep investigations of the data and information available to provide credentials with facts and figures to provide results that will utilize for the new research.

In the given case, it is explained that Chen is looking for information for a speech about starting his own business. The information which is considered reliable is taken from a portal that is authentic is government portal.

A government portal provides accurate facts and information and helps an individual to understand trends in entrepreneurship.

Therefore, option B is appropriate.

Learn more about Research, here:

brainly.com/question/18723483

#SPJ1

3 0
1 year ago
Read 2 more answers
As a result of Luis putting a "stop payment" on a check that he wrote, Luis will
vodka [1.7K]

Answer:c

Explanation:

7 0
3 years ago
Business at Korey's Comics has been good, and Korey expects the same business next month. However, due to an increase in busines
Bezzdna [24]

Answer:

ADDITIONAL REVENUE & ADDITIONAL COST

Explanation:

If Korey has made the decision to bring on an extra hand to help run the store in the afternoons and the new employee will make $435 per month; then there are 2 changes that will happen to the monthly net income

1. Increased Revenue: Since the new employee will be bringing in additional revenue of $435, then the direct impact of that is an increment in the revenue line of the income statement

2. Increased Costs: Secondly, this change will affect Korey's monthly net income in the area of cost because he has to pay the extra hand some sort of monthly salaries which will have a reducing effect on profit.

7 0
3 years ago
Other questions:
  • How do jellyfish move
    10·2 answers
  • The size of osha becomes graphically apparent when a simple calculation shows that if the 8 million workplaces were distributed
    9·1 answer
  • Multinat is a large corporate with its headquarters in Asia. It wants to open new divisions in Africa and Australia. The company
    5·1 answer
  • When Ingrid was selling her house, she contacted Gabe, her real estate agent, to help her with the sale. Gabe's services include
    5·1 answer
  • What is progressive discipline
    14·2 answers
  • The economic entity assumption requires that the activities of an entity be kept separate and distinct from the activities of it
    11·1 answer
  • During March, the production department of a process operations system completed and transferred to finished goods 23,000 units
    6·1 answer
  • Carrie is creating a personal balance sheet. The heading includes the period of time that the balance sheet represents Which cou
    6·2 answers
  • Your company is considering two investments: buying 10% of the sharesin a publicly traded American company that owns five power
    15·1 answer
  • Question 11 (3 points)
    9·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!