On February 2, Flint Corp.'s board of directors voted to discontinue operations of its frozen food division and to sell the division's assets on the open market as soon as possible. The division reported net operating losses of $20,000 in January and $30,000 in February. On February 26, sale of the division's assets resulted in a gain of $90,000. Ignoring income taxes, what amount of gain from discontinued operations should Flint recognize in its income statement for the three months ended March 31

Answers

Answer 1

Answer: $40,000

Explanation:

The gain from discounted operations assuming no income taxes, is the gain from the sale of the asset less the net operating losses in the period.

= Gain from Sales of Asset - Net losses in period

= 90,000 - ( 20,000 + 30,000)

= $40,000


Related Questions

An advantage of an intranet-based approach to corporate computing is

Answers

Answer:

D. all of the above

Explanation:

The corporate computing refers to the activity in which the computer is used so that the management, procedures, communication could be maintained in the corporate world

It is the creation of the hardware and the software.

For the intranet based , the following are the advantages

1. Prototyping and the new service deployment

2. Computer architecture

3. Types of media range

Therefore all the above are included

Identify each CTSO from its description
An organization for students in college-level agriculture programs:
An organization for middle-school, high-school, and college students studying agriculture:
An organization for adult agriculture students:

Answers

Answer:

the answer are 2, 1, 3

Explanation:

Answer: EDGE 2021

Explanation:

An organization for students in college-level agriculture programs: PAS

An organization for middle-school, high-school, and college students studying agriculture: National FFA

An organization for adult agriculture students: NYFEA

Ross was appointed CEO of an auto parts manufacturer about six months ago. Almost immediately, he recognized a competitive advantage the company could develop, but many lower-level managers from numerous departments have pushed back on his recommendations. What challenge is Ross facing

Answers

Answer:

Organizational inertia

Explanation:

This phenomenon occurs when an organization which has the ability or capacity to progress, improve and outperform is not doing so, but instead remains in in current status.

In other words, it is an organization that is resistant to change. In this example, we noticed that Ross the newly appointed CEO recognized a competitive advantage the company could develop, but many lower-level managers from numerous departments pushed back or resisted his recommendation for a change.

The process of coordinating the promotion mix elements and synchronizing promotion as a unified effort is known as

Answers

Answer:

integrated marketing communications.

Explanation:

This is rightly so because it involves deliberate integration of promotion mix elements which includes;

advertisingsales promotionspublic relationsdirect marketingpersonal selling

By so doing a company determines as regards its products and services, what you say, how to say it, who to say it, what channels to use to reach them, and how often to communicate.

Money is: Multiple Choice the sum of assets minus debts. any asset used to make purchases. the same as income. all financial assets.

Answers

Answer:

any asset used to make purchases.

Explanation:

Money is any asset used to make purchases. This ultimately implies that, in economics or financial accounting, money can be defined as any asset used by an individual or business entity to make purchases of goods and services at a specific period of time.

Additionally, the rate at which an asset can be used to purchase any goods or services refers to its liquidity. Thus, liquidity is a quality or characteristics of money as a medium of exchange.

Hence, money is a generally accepted medium of exchange around the world.

Today, most salespeople are well-educated, well-trained professionals who work to build and maintain long-term customer relationships by teaching their customers, assessing their needs, and organizing the companyâs efforts to solve customer problems.

a. True
b. False

Answers

Answer:

b. False

Explanation:

The above is false because sales people are supposed to build and maintain long term relationships with their customers by listening to and assessing their needs and not teaching their customers. Sales people create a concerted effort towards solving those needs experienced by their customers.

A salesperson represent the image of the company he or she is selling for, hence must be professional and well trained because the company gets profit through his interactions with the customers. This means that before the company gets profit, customers must be satisfied because these salespeople act as critical link between the company and its customers.

Your boss told you that she is giving you a 5% raise starting with your next paycheck. You are very pleased to hear this good news until you learn that some of your coworkers earned a 10% raise. Now you are unhappy and angry about your raise. Your experience is best explained in terms of

Answers

Answer: The relative deprivation principle

Explanation:

The relative deprivation principle is based on a concept that an individual feels cheated of some event or happening when they hear that same people who participated in such event gained better than them. This is a normal occurrence in many offices as regards promotions; when an individual gets to discover that their was a general raise in pay but his was the smallest ratio amongst the other person's, he would feel deprived. Also such scenario do happen in promo being carried out in business between end users who don't get the same promo price despite they feel they were supposed to get same.

In a purchases-payables computer system, a purchase order is created after which document has been processed?

Answers

In a purchases-payables computer system, a purchase order is created after which document has been processed?

"The most commonly used measure to evaluate the ability of a revenue bond issuer to pay interest and repay principal is the ratio of:"

Answers

Answer:

B. Net Revenues / Debt Service

Explanation:

For measuring and analyzing the revenue bonds the ratio of Net revenues to the debt ratio is used

The net revenues come from

= Gross revenues - operations & maintenance cost

so for the paying the interest and to pay back the principal amount, the ratio of net revenue and the debt service is used

hence, the correct option is B.

Which of the following statements is false? a. When the required rate of return on a bond equals its coupon rate, the bond will sell at its par value.

Answers

Answer:

The answer is D. The price of a bond at its maturity is equal to the final coupon payment

Explanation:

All the options are correct except option D which states that The price of a bond at its maturity is equal to the final coupon payment.

The price of a bond is never equal to the final coupon payment. Coupon payment is the periodic payment paid by the issuer. It can be annual or semiannual or quarter etc. While bond price is the present value of the future cash flows of the bond. Bond price is determined at the initiation of the transaction.

It is the face value of the bond plus coupon payment that is paid at the maturity of the bond.

Your company needs to ship 10 heart pacemakers that cost $10,000 each from Indianapolis, Indiana, to Miami, Florida. Which transportation mode should you use?

Answers

Answer:

"Air" is the correct solution.

Explanation:

A mode of carriage whereby the flight attendants, mail as well as cargo were often transported by air. This technique's biggest advantages seem to be the substantial duration of information saved owing to the increased flying speed.It is indeed a network whereby local airports provide air transport to something like a centralized airport whereby long-haul flights become accessible.

So that the above seems to be the right approach.

In calculating GDP, governmental transfer payments, such as social security or unemployment compensation, are:________. A) not counted. B) counted as investment spending. C) counted as government spending. D) counted as consumption spending.

Answers

Answer:

A) Not Counted

Explanation:

A non-MFP (non-Municipal Finance Professional) contributes $500 to an elected official's campaign in which he is entitled to vote. What would be the result of this action?

Answers

Answer:

Explanation:

This action will not result in a 2 year ban on the municipal broker dealer conducting municipal securities business with that issuer because the Municipal Securities Rulemaking Board

( MSRB )rule only applies to the Municipal Finance Professional

( MFPs )

As defined by Virginia law, ______ is any person, or business entity of not more than two persons unless related by blood or marriage, who for compensation or valuable consideration is employed either directly or indirectly by, or affiliated as an independent contractor with, a real estate broker, to sell or offer to sell, or to buy or offer to buy, or to negotiate the purchase, sale or exchange of real estate, or to lease, rent or offer for rent any real estate, or to negotiate leases, or of the improvements relating to the real estate.

Answers

The correct answer would be real estate salesperson

Name two steps Mexico’s government did to reform their economy.

Answers

Answer:

privitazation of government operated firms, and they opened the economy to trade and foreign investment

Explanation:

"A bond trader believes that he has too much inventory in 25-year ABC corporation bonds. The dealer would most likely:"

Answers

Answer: b. hedge the bond positions

Explanation;

If the bond trader believes that he has too much inventory in 25-year ABC corporation bonds, it means he is worried that this holding can lead to potential loss.

The dealer would therefore like to act against this by hedging the bond positions which means to use derivative instruments such as interest rate swaps to ensure that the risk resulting from holding that many bonds is minimized.

The face value is​ $82,000, the stated rate is​ 10%, and the term of the bond is eight years. The bond pays interest semiannually. At the time of​ issue, the market rate is​ 8%. What is the present value of the bond at the issue​ date? Present value of​ $1: ​4% ​5% ​6% ​7% ​8% 15 0.555 0.481 0.417 0.362 0.315 16 0.534 0.458 0.394 0.339 0.292 17 0.513 0.436 0.371 0.317 0.270 18 0.494 0.416 0.350 0.296 0.250 19 0.475 0.396 0.331 0.277 0.232 Present value of ordinary annuity of​ $1: ​4% ​5% ​6% ​7% ​8% 15 11.118 10.380 9.712 9.108 8.559 16 11.652 10.838 10.106 9.447 8.851 17 12.166 11.274 10.477 9.763 9.122 18 12.659 11.690 10.828 10.059 9.372 19 13.134 12.085 11.158 10.336 9.604

Answers

Answer:

$91,561.20

Explanation:

bonds face value $82,000

coupon rate 10%, 5% semiannual

periods 8 x 2 = 16

market price:

PV of face value = $82,000 x 0.534 (PV factor, 4%, 16 periods) = $43,788

PV of coupon payments = $4,100 x 11.652 (PV annuity factor, 4%, 16 periods) = $47,773.20

market price = $43,788 + $47,773.20 = $91,561.20

f the price of a slice of pizza rises from $2.50 to $3, and quantity demanded falls from 10,000 slices to 7,400 slices, calculate the arc price elasticity.

Answers

Answer:

arc price elasticity = -1.64

Explanation:

arc price elasticity = (change in quantity x average price) / (change in price x average quantity)

change in quantity = 7,400 - 10,000 = -2,600 unitsaverage price = ($2.50 + $3) / 2 = $2.75change in price = $3 - $2.50 = $0.50average quantity = (10,000 + 7,400) / 2 = 8,700 units

arc price elasticity = (-2,600 x $2.75) / ($0.50 x 8,700) = -7,150 / 4,350 = -1.64

Discuss the primary goals of expansionary and contractionary fiscal policies and their effects on unemployment rates, inflation rates, interest rates, private investment, and GDP.

Answers

Answer:

The primary goals of expansionary and contractionary fiscal policies and their effects on unemployment rates, inflation rates, interest rates, private investment, and GDP:

Country A pursues expansionary fiscal policy in order to grow the economy and create full employment.  For example, If Country B decides to cut tax rates or increase government spending, shifting the aggregate demand curve to the right , then it wants the economy to expand.

On the other hand, US Congress can also decide to raise tax rates or cut government spending, thus shifting aggregate demand to the left.

Explanation:

Country A's expansionary fiscal policy reduces the unemployment rates, increases inflation rates, interest rates, private investment, and GDP.

The US contractionary fiscal policies ensure that the unemployment rate is increased, while inflation and interest rates are reduced.  There is also reduced private investment and GDP as a result of the contractionary fiscal policies.

The petty cash fund of the Brooks Agency is established at $230. At the end of the current period, the fund contained $155 and had the following receipts:

Entertainment: $41
Postage: $17
Printing : $17

Prepare journal entries to record:
a. Establishment of the fund
b. Reimbursement of the fund ocs at the end of the current period.

Answers

Answer and Explanation:

The journal entries are given below:

1. Petty cash A/c Dr $230  

      To Cash A/c              $230

(Being petty cash fund established)

For recording this we debited the petty cash account as it increased the assets and credited the cash as it decreased the asset

2  Entertainment expense A/c Dr $41  

  Postage expense A/c Dr $17

  Printing expense A/c Dr $17

                                       To Cash A/c Dr $75  ($230 - $155)

(Being reimbursement of the fund is recorded)

For recording this we debited all expenses as it increased the expenses and credited the cash as it decreased the asset

If an employee sits down with a supervisor and sets a goal to reduce waste on the assembly line by 3%, the reward the supervisor provides if the goal is reached is called a ______.

Answers

Answer:

Bonus.

Explanation:

Just as the name sounds, so is it an additional pay that is been given to an employee seen to appear above their regular earnings, this bonus is seen to be used by many organizations in different forms are categorically given to employees or a team that achieves significant goals. This little pay go a very long way in the life, performance and output of a team or employee. Also, employee morale, output and also motivation. Due to the positive returns from this act, a lot of organisations tends to practice this ritual consistently because every goal or target reached by an employee or or team brings the organisation closer to success.

On August 1, ABC Company sold its investment in Teal Company for $12,400. On the previous balance sheet, the investment had a fair value of $11,400. The journal entry to record the sale will include a

Answers

Answer:

The journal entry to record the sale will include a,

Cash $12,400 (debit)

Profit and Loss $1,000 (credit)

Investment in Teal Company $11,400 (credit)

Explanation:

The Investment is carried in the the Financial statement at its Fair Value of $11,400, and this needs to be eliminated following the sale.

Recognize the cash proceeds following the sale of investment of $12,400.

Lastly any amount paid in excess of the Fair Value of the Investment must be recognized as profit or as loss (if fair value exceeds the cash proceeds)

A material overstatement in ending inventory was discovered after the year-end financial statements of a company were issued to the public. What effect did this error have on the year-end financial statements

Answers

Answer:

Current assets to be overstated and gross profit to be overstated.

Explanation:

Inventory is the product that is sold by a business to generate profits. They are purchased and sold out to customers within a given period.

If inventory is overstated it means that cost of goods sold is understated. This will inflate the profit of the business in financial statements.

Cost of goods sold = Starting inventory + Purchases - Ending Inventory

If ending inventory is overstated it will reduce cost of goods sold.

Also as inventory is a current asset of the business that can be sold within a short time, an overstatement of inventory is an overstatement of current assets.

Assume that chips cost $1 and soda costs $2. If the consumer has $14, the combination of goods that would maximize his utility per dollar and remain within his budget would be

Answers

Answer:

The remaining amount that the consumer would have would be $11

Explanation:

If the person originally had $14 but spent $3 all together on their items they would remain with the amount of $11.

(I hope this helps, I'm not sure if it's exactly what you were looking for but it's something so...)

Aaron has designed innovative accessories for hard-core bicycling enthusiasts.He knows where and how he will make them,and he needs to turn his attention to the getting the products to the customers.As he chooses retail partners,which of the following is least important in this process?
A) looking at the channel structure
B) determining where target customers will expect to find this product
C) considering characteristics of channel members
D) encouraging new bicycling enthusiasts
E) considering distribution intensity

Answers

Answer: Encouraging new bicycling enthusisasts

Explanation:

From the question, we are informed that Aaron has designed innovative accessories for hard-core bicycling enthusiasts and the he knows where and how he will make them,and he needs to turn his attention to the getting the products to the customers.

As he chooses retail partners, the least important in this process is encouraging new bicycling enthusiasts

"Suppose that the video game company Ultravision releases a new game called "Call of Obligation: Modern Combat 3." This can be analyzed using tools from both microeconomics and macroeconomics. Classify the items according to whether they are an application in microeconomics or macroeconomics."

Answers

Answer:

Microeconomics

How much will Ultravision charge for "Call of Obligation?"

Is Ultravision able to sell all of the "Call of Obligation" games it produces or do they need to produce more?

How does Ultravision choose to market "Call of Obligation?"

How much will Ultravision pay the developers of the game?

Macroeconomics

Has the country's unemployment rate changed as Ultravision  hired a huge team of workers to develop the game?

Have the millions of dollars that people have spent on video games worldwide affected the Gross Domestic Product (GDP) in their respective countries?

How much less economic output occurs countywide because workers call in sick to stay home and play either "Call of Obligation" or another video game?

Explanation:

Microeconomics refers to the study of the events resulting from responses of individuals to changes in motivation, prices, measures to produce and methods of production.

Macroeconomics

Macroeconomics is the subdivision of economics that is concerned with the functioning and organizational structure, characteristics, behavior and the selection processes and making decision with regards to the entire economy.

org303 According to the textbook, the most important reason for organizations to rely on research is that it ultimately

Answers

Answer:

Explanation:

The most important reason for organizations to rely on research is that it ultimately provides the organization with insight on how a specific decision will perform in the target market and what effects it will have on the company. This is because research provides valuable information such as a target population's interests, hobbies, spending behaviors, needs, likes/dislikes, etc. All of which are factors that help determine if that population will buy a certain product and increase the organizations revenue.

Exchanging business cards in Asia must be done with respect, according to the customs and norms of the country or region. This protocol is considered important during which stage of the personal selling process?

Answers

Answer:

Approach

Explanation:

The personal selling process is a term used in marketing that describes a seven-step operation, which includes the following stages: prospecting, pre-approach, approach, presentation, meeting objections, closing the sale, and follow-up. All the stages deal with issues of sales and marketing solutions.

However, the Approach stage is defined as the preliminary meeting between the salesperson and the prospective customer, whereby the salesperson gets to know the potential customer in a very short period of time. This includes how to greet in accordance with the customs and norms of the potential customer.

Hence, in this case, the correct answer is APPROACH

Suppose you put half of your money in Monster Beverage and half in IBM. What would the beta of this combination be if Monster Beverage has a beta of 1.52 and Pepsi has a beta of .55

Answers

Answer:

1.04

Explanation:

Monster beverage has a beta of 1.52

Pepsi has a beta of 0.55

Suppose half of your money is invested into Monster beverage and IBM

Then the beta of the combination can be calculated as follows

= (1/2 × 1.52) + (1/2 × 0.55)

= (0.5 × 1.52) + (0.5 × 0.55)

= 0.76+0.275

= 1.04

Hence the beta of the combination is 1.04

What strategy is often followed when access to the market is limited by high tariffs or non-tariff barriers, when shipping costs are prohibitive, or when the exporter is not interested in pursuing the market?

Answers

Answer: licensing

Explanation:

Licensing is a form of business arrangement whereby an organization gives room for another organization to produce its product or render its services for a particular amount.

The strategy is often followed when access to the market is limited by high tariffs or non-tariff barriers, when shipping costs are prohibitive, or when the exporter is not interested in pursuing the market.

Other Questions
When scientists carefully measure the lichens and agree on their average thickness and how often they appear, which parts of the scientific cycle are the scientists using Is a b equal to b a? "You are in the middle of a discussion with an institutional client over the phone, where you recommend that the client buy 100,000 shares of ABC stock. It looks like the client may be interested in making the purchase. Your cubicle is within earshot of the neighboring cubicle. Just before your client tells you take the order to buy, you overhear your colleague, the representative in the neighboring cubicle, selling 10,000 shares of ABC stock to his client. Which statement is TRUE about this situation?" Cullumber Company had these transactions during the current period:June 12 Issued 80,500 shares of $1 par value common stock for cash of $301,875.July 11 Issued 3,200 shares of $100 par value preferred stock for cash at $106 per share.Nov. 28 Purchased 2,950 shares of treasury stock for $10,000.Prepare a tabular summary to record the Cullumber Company transactions, indicating their impact on the accounting equation. Geographically dispersed work groups no longer pose additional communication challenges given todays technology.a) trueb) false 11. Look at the figure above. Which atmospheric layer has around 80 percent of the mass of the earth's atmosphere? (Hint: It's where the clouds seen on Earthare formed.)--O A. StratosphereOB. ExosphereC. TroposphereD. Thermosphere Two dimensions of product quality are hard to measure objectively and are therefore subject to subjective assessment. One of those subjective dimensions is: Lei Corporation has bonds on the market with 22.5 years to maturity, a YTM of 6.9 percent, a par value of $1,000, and a current price of $1,057. The bonds make semiannual payments. What must the coupon rate be on these bonds A man walks along a straight path at a speed of 3 ft/s. A searchlight is located on the ground 4 ft from the path and is kept focused on the man. At what rate is the searchlight rotating when the man is 3 ft from the point on the path closest to the searchlight Alex buys a car for $19500 and later sells it at a profit of 5%. At what price did he sell the car? A concentration cell is one in which both the anode and cathode are the same but with different concentrations. Calculate the cell potential with [Zn2+] = 0.10 M[Zn2+] = 0.10 M for the cathode and the [Zn2+] = 0.010 M[Zn2+] = 0.010 M for the anode? three signals that beep.signal a beeps every 25 secondssignal b beeps every 30 secondssignal c beeps every 100 seconds.The three signals start beeping at the same time.How many times in one hour will the three signals beep? What conclusion about Gilgamesh can be drawn fromthis passage?He is a confident leader.He is very strong.He is triumphant in battle.What evidence best supports the conclusion?He is paralyzed by fear.He encourages Endiku.He does not listen to others. The following information was available for the year ended December 31, 2016: Net sales $ 857,750 Cost of goods sold 609,550 Average accounts receivable for the year 39,900 Accounts receivable at year-end 29,400 Average inventory for the year 174,000 Inventory at year-end 157,800 Required: a. Calculate the inventory turnover for 2016. (Round your answer to 2 decimal places.) b. Calculate the number of days' sales in inventory for 2016, using year-end inventories. (Use 365 days a year. Round your answer to 1 decimal place.) c. Calculate the accounts receivable turnover for 2016. (Round your answer to 1 decimal place.) d. Calculate the number of days' sales in accounts receivable for 2016, using year-end accounts receivable. (Use 365 days a year. Round your answer to 1 decimal place.) 9. What was the name of the first meeting of colonial leaders where they wrote a letter to theking?A. The Stamp ActB. The Tea ActC. The Coercive ActsD. The First Continental Congress HELP ASAP!!!!!!! Third person omniscient is the _____ that is most likely to be that of a reliable narrator. personification part of speech point of view paraphrase The components that a cell can contain are (check all that apply) which two techniques do writers employ to draw a readers attention to symbols in their stories If you were to open an account that will pay you 3.5% interest with a deposit of $150 so find the following ending amount for each period at the end of 2 years Evaluate n/6+2when n=12