Business, 20.06.2020 22:57, destineedhuber8301

Trayer Corporation has income from continuing operations of $225,000 for the year ended December 31, 2017. It also has the following items (before considering income taxes). 1. An unrealized loss of $86,200 on available-for-sale securities. 2. A gain of $43,500 on the discontinuance of a division (comprised of a $5,100 loss from operations and a $48,600 gain on disposal). 3. A correction of an error in last year’s financial statements that resulted in a $20,000 understatement of 2016 net income. Assume all items are subject to income taxes at a 16% tax rate. Prepare a statement of comprehensive income, beginning with income from continuing operations.

Answers: 2

Show answers

Other questions on the subject: Business

Business, 22.06.2019 02:30, maxicanofb0011

Based on the supply and demand theory, why do medical doctors earn higher wages than child-care workers?

Answers: 1

continue

Business, 22.06.2019 10:00, caz27

Your uncle is considering investing in a new company that will produce high quality stereo speakers. the sales price would be set at 1.5 times the variable cost per unit; the variable cost per unit is estimated to be $75.00; and fixed costs are estimated at $1,200,000. what sales volume would be required to break even, i. e., to have ebit = zero?

Answers: 1

continue

Business, 22.06.2019 12:20, lamwil9432

Selected transactions of the carolina company are listed below. classify each transaction as either an operating activity, an investing activity, a financing activity, or a noncash activity. 1. common stock is sold for cash above par value. 2. bonds payable are issued for cash at a discount

Answers: 2

continue

Business, 22.06.2019 20:00, mackle34

Qwest airlines has implemented a program to recycle all plastic drink cups used on their aircraft. their goal is to generate $7 million by the end of the recycle program's five-year life. each recycled cup can be sold for $0.005 (1/2 cent). a. how many cups must be recycled annually to meet this goal? assume uniform annual plastic cup usage and a 0% interest rate. b. repeat part (a) when the annual interest rate is 12%. c. why is the answer to part (b) less than the answer to part (a)?

Answers: 1

continue

Do you know the correct answer?

Trayer Corporation has income from continuing operations of $225,000 for the year ended December 31,...