Based on the data above, gross profit was: * $200,000 $295,000 $330,000 None of...
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Accounting
Based on the data above, gross profit was: *
$200,000
$295,000
$330,000
None of the above
Based on the data above, income from continuing activities after taxes was: *
$120,000
$35,000
$200,000
None of the above
Based on the data above, discontinued operations will have the following effect in the income statement: *
A decrease by $42,400
A decrease by $44,000
A decrease by $26,400
Cannot be determined
Based on the data above, the net extraordinary loss was: *
$6,000
$10,000
$4,000
None of the above
Based on the data above, net income was: *
$151,600
$152,000
$71,600
None of the above
The following accounts are extracted from the worksheet of X Company on December 31, 2020: Income from operations $165,000 Dividends Revenue 45,000 Operating expenses 165,000 Loss from sale of land 10,000 During the year, the company suffered from abnormal and infrequent hurricane damages that had resulted in a $10,000 pretax tax loss During the year also, the company stopped the activities of its DD segment which had resulted in a net of tax operating loss of $40,000 and a pretax loss on disposal $4.000 Tax Rate was 40%
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