Business, 06.04.2021 01:00 imjustdumbsis

A food and beverage company with the following divisions: Candy Bars, Beverages, and Snack Foods. Because of changing consumer tastes, the Snack Foods division has reported operating losses for the past three years, and Fox Co. has decided to sell that division. In July 2020, the Board of Directors approved a sale to take place in March 2021. Each division qualifies as a component of an entity. Company's reported pre-tax income from all of its operations (including the Snack division) of $100,000,000 for the year ended 12/31/20. The operating loss related to the Snack division in 2020 was ($20,000,000). The book value of the Snack division exceeded the market value by $500,000. Fox Co's income tax rate is 30%.

Required:
What is Company's 2020 Income from Discontinued Operations reported on the income statement?

a. Loss of $14,350,000
b. Loss of $20,500,000
c. Income of $79,500,000
d. Loss of $7,000,000

Answers: 1

Show answers

Another question on Business

Business, 21.06.2019 19:40

Prairie, inc. produces one single product. it has an annual capacity of 10,000 units, but currently uses only 80% of it. each unit is sold for $50 and requires direct material worth $30 and direct labor worth $5. manufacturing overhead cost is $10 per unit of which 70% is variable. should a special order to sell 1,000 units at $44 be accepted? yes no

Answers: 2

Answer

Business, 22.06.2019 11:40

Select the correct answer. which is a benefit of planning for your future career? a.being less prepared after high school. b.having higher tuition in college. c.earning college credits in high school. d.ruining your chances of having a successful career.

Answers: 2

Answer

Business, 22.06.2019 15:20

On january 2, 2018, bering co. disposes of a machine costing $34,100 with accumulated depreciation of $18,369. prepare the entries to record the disposal under each of the following separate assumptions. exercise 8-24a part 2 2. the machine is traded in for a newer machine having a $50,600 cash price. a $16,238 trade-in allowance is received, and the balance is paid in cash. assume the asset exchange has commercial substance.

Answers: 2

Answer

Business, 22.06.2019 16:30

Which of the following has the largest impact on opportunity cost

Answers: 3

Answer

You know the right answer?

A food and beverage company with the following divisions: Candy Bars, Beverages, and Snack Foods. Be...

Questions