- work from home online business
Hi I need some help with steps on this, I don't know how to set this up right, and get the answer of $84,000 gain.
Carol has component that is discontinued operation. Revenues : 100,000 Expenses : 160,000. Component sold with resulting gain of $200,000. Tax rate is 40%. What is total gain/ loss on discontinued operations (net-of-tax effects) that will be reported on income statement?
My work : I thought I would do 100,000 - 160,000 and then subtract that from 200,000 and find 40% of that but this was wrong
Carol has component that is discontinued operation. Revenues : 100,000 Expenses : 160,000. Component sold with resulting gain of $200,000. Tax rate is 40%. What is total gain/ loss on discontinued operations (net-of-tax effects) that will be reported on income statement?
My work : I thought I would do 100,000 - 160,000 and then subtract that from 200,000 and find 40% of that but this was wrong
Discontinued Operation Accounting Question?
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