On October 28, 2021, a company committed to a plan to sell a division that qualified as a component of the entity according to GAAP regarding discontinued operations and was properly classified as held for sale on December 31, 2021, the end of the company's fiscal year. The division's loss from operations for 2021 was $1,820,000. The division's book value and fair value less cost to sell on December 31 were $3,050,000 and $2,410,000, respectively. What before-tax amount(s) should the company report as loss on discontinued operations in its 2021 income statement

$2,460,000 loss

Explanation:

Calculation for What before-tax amount(s) should the company report as loss on discontinued operations in its 2021 income statement

Using this formula

Loss on discontinued operations in its 2021=Division's loss from operations for 2021+ (Division's book value - Fair value )

Let plug in the formula

Loss on discontinued operations in its 2021=$1,820,000+( $3,050,000 -$2,410,000)

Loss on discontinued operations in its 2021=$1,820,000+$640,000

Loss on discontinued operations in its 2021=$2,460,000

Therefore before-tax amount(s) should the company report as loss on discontinued operations in its 2021 income statement is $2,460,000

answer; (a) calling people who have not shown interest in the product and asking them to buy it;

answer; buyer guide;