Business, 29.10.2019 01:31 sama3638

On september 1, 2018, jacob furniture mart enters into a tentative agreement to sell the assets of its office equipment division. this division qualifies as a component of the entity according to gaap regarding discontinued operations. the division's contribution to jacob's operating income for 2018 was a $3.80 million loss before taxes. jacob has an average tax rate of 30%.

scenario 1: assume that jacob sold the division's assets on december 31, 2018, for $24.80 million. the book value of the division's assets was $19.72 million at that date.

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