subject
Business, 30.10.2019 22:31 windline829

On september 1, 2021, jacob furniture mart enters into a tentative agreement to sell the assets of its office furniture 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 2021 was a $2.70 million loss before income tax. jacob has an average tax rate of 25%. assume that jacob had not yet sold the office furniture division by the end of 2021. further, assume that the fair value less cost to sell of the division's assets at december 31, 2021, was $12 million and was expected to remain the same when the assets are sold in 2022. the book value of the division's assets was $19 million at the end of 2021. what would jacob report in its 2021 income statement regarding the office furniture division?

ansver
Answers: 2

Another question on Business

question
Business, 22.06.2019 07:00
Need true or false 1 2 3 4 5 6 7 8
Answers: 1
question
Business, 22.06.2019 10:00
Employees at a library check out books to patrons. books have an isbn and a name. the library sometimes has multiple copies of the same book. books have one or more authors. a patron is an individual who has an active (non-expired) library card. for each library card, we store the person's first and last names and their address. for each employee, we store their employee id, current salary, first and last name and their address. we also store the employee id of their current manager. each time we check out a book to a patron we need to store the date of the transaction, the employee who checked out the book to the patron, and the library card of the patron. some employees have library cards. if an employee patron turns in a book late, the fine that they pay is a percentage of their salary. some employees are authors who have library cardsβ€”they are allowed to check out as many books as they like.
Answers: 1
question
Business, 22.06.2019 20:00
In william rathje's garbology project that focused on household waste, front door interviews found 15 percent of respondents saying that they consumed beer. the trash discard from the same area showed what percentage of household's consuming beer
Answers: 1
question
Business, 22.06.2019 23:00
The sign at the bank reads, "wait here for the first available teller," suggests the use of a waiting line system.a. multiple server, single phaseb. random server, single phasec. single server, multiphased. multiple server, multiphasee. dynamic server, single phase
Answers: 2
You know the right answer?
On september 1, 2021, jacob furniture mart enters into a tentative agreement to sell the assets of i...
Questions
question
Physics, 23.03.2021 19:40
question
Physics, 23.03.2021 19:40
question
Mathematics, 23.03.2021 19:40
question
Mathematics, 23.03.2021 19:40
question
Mathematics, 23.03.2021 19:40
question
Mathematics, 23.03.2021 19:40
Questions on the website: 13722362