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iogann1982 [59]
3 years ago
6

Nash Corporation had income from continuing operations of $10,813,600 in 2020. During 2020, it disposed of its restaurant divisi

on at an after-tax loss of $206,600. Prior to disposal, the division operated at a loss of $316,100 (net of tax) in 2020 (assume that the disposal of the restaurant division meets the criteria for recognition as a discontinued operation). Nash had 10,000,000 shares of common stock outstanding during 2020. Prepare a partial income statement for Nash beginning with income from continuing operations. (Round earnings per share to 2 decimal places, e.g. 1.48.)
Business
1 answer:
Mrac [35]3 years ago
5 0

Answer and Explanation:

The presentation of the partial income statement is presented below:

                                                  Nash Corporation

                                            Partial income statement

Income from continuing operations    $10,813,600

Discontinued operations

Loss from operations of a division   $316,100

Loss from disposal of the division    $206,600                  ($522,700)

Net income                                         $10,290,900

Earning per share

Income from continuing operations                    

($10,813,600 ÷ 10,000,000 shares)        $1.08

Less Discontinued operations

($522,700 ÷ 10,000,000 shares)              -$0.05

Net income

($10,290,900 ÷   10,000,000 shares)      $1.03

We simply deduct the losses from the income so that the net income could arrive

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Answer: The correct answer is true.

Explanation: A disclosed principal is a principal whose identity is known by a third party with whom an agent contracts on the principals behalf, making this statement true.

7 0
3 years ago
Martinez Company has an old factory machine that cost $66,000. The machine has accumulated depreciation of $36,960. Martinez has
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Answer:

Journal entries

Explanation:

The journal entries are as follows

(a) Cash A/c Dr $33,000

   Accumulated depreciation A/c Dr $36,960

            To Factory machine A/c $66,000

            To Profit on sale of factory machine A/c $3,960

(Being the sale of machinery is recorded and the remaining balance is credited to the profit on sale of factory machine account)

(b) Cash A/c Dr $19,800

    Loss on sale of factory machine A/c $9,240

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(Being the sale of machinery is recorded and the remaining balance is debited to the loss on sale of factory machine account)

8 0
3 years ago
To ensure that employees are learning the content effectively during the training program, firms should (choose all that apply):
lord [1]

Answer:

a. give employees the opportunity to enact the skills.

b. use modeling to help employees learn the skills vicariously by watching other people perform the skill.

c. provide feedback with both negative and positive reinforcements of wrong and correct behaviors respectively.

Explanation:

Training can be defined as a learning process which typically involves teaching an individual or group of people skills that are relevant to their job position or roles in an organization.

This ultimately implies that, the main purpose of a training is to improve an employee's performance in his or her place of work.

To ensure that employees are learning the content effectively during the training program, firms should;

a. give employees the opportunity to enact the skills.

b. use modeling to help employees learn the skills vicariously by watching other people perform the skill.

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3 years ago
As a product moves into the market maturity stage of its life cycle, the marketing manager should:____.
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Maturity is the time when sales start to plateau from the boom. At this point, companies start cutting prices to remain competitive in the face of increased competition.

Maturation occurs after introduction and growth. Maturity is the longest stage in the product life cycle. At this stage, sales growth starts to decline. The company reaches a high point in the demand cycle. and promotional strategies have minimal impact on revenue growth. December 20, 2021

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5 0
2 years ago
White Company has two departments, Cutting and Finishing.
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Answer:

Cutting = $10.99 per machine hour

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Explanation:

The question requests the predetermined overhead rate for Cutting department and Finishing department

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= $15.28 per direct labour hours.

7 0
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