Interest-bearing note transactions LO P1 On November 7, Mura Company borrows $160,000 cash by signing a 90-day, 8 %, $160,000 note payable. 1. Compute the accrued interest payable on December 31. 2. & 3. Prepare the journal entries to record the accrued interest expense at December 31 and payment of the note at maturity on February 5.
Answers
On December 31, the accrued interest payable on the note is $2,133.33.
To calculate the accrued interest payable, we need to determine the interest expense for the period from November 7 to December 31.
The formula to calculate interest expense is:
Interest Expense = Principal × Interest Rate × Time
In this case, the principal is $160,000, the interest rate is 8% (0.08 as a decimal), and the time is 55 days (from November 7 to December 31, inclusive).
First, we need to convert the time to a fraction of a year. Since there are 365 days in a year, we divide the number of days by 365:
Time = 55 / 365 = 0.1507 (rounded to four decimal places)
Next, we can calculate the interest expense:
Interest Expense = $160,000 × 0.08 × 0.1507 = $1,928.53 (rounded to two decimal places)
Therefore, the accrued interest payable on December 31 is $1,928.53.
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To record the accrued interest expense at December 31, the journal entry would be:
Date | Account | Debit ($) | Credit ($)
------------------------------------------------------------------------
Dec 31 | Interest Expense | $1,928.53 |
Dec 31 | Accrued Interest Payable | | $1,928.53
This entry increases the interest expense and records the accrued interest payable as a liability.
To record the payment of the note at maturity on February 5, the journal entry would be:
Date | Account | Debit ($) | Credit ($)
------------------------------------------------------------------------
Feb 5 | Accrued Interest Payable | $1,928.53 |
Feb 5 | Notes Payable | $160,000 |
Feb 5 | Cash | | $161,928.53
This entry decreases the accrued interest payable and notes payable, reflecting the payment of the note with interest.
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Related Questions
Problem 3-13 (Algo) Schedules of Cost of Goods Manufactured and Cost of Goods Sold; Income Statement [LO3-3] Superior Company provided the following data for the year ended December 31 (all raw materials are used in production as direct materials): Selling expenses Purchases of raw materials Direct labor $ 219,000 $ 269,000 ? Administrative expenses $ 157,000 $364,000 Manufacturing overhead applied to work in process Actual manufacturing overhead cost $ 353,000 Inventory balances at the beginning and end of the year were as follows: Beginning $ 58,000 Ending $ 33,000 Raw materials Work in process 2 $ 29,000 Finished goods $ 37,000 ? The total manufacturing costs added to production for the year were $680,000; the cost of goods available for sale totaled $725,000; the unadjusted cost of goods sold totaled $663,000; and the net operating income was $32,000. The company's underapplied or overapplied overhead is closed to Cost of Goods Sold. Required: Prepare schedules of cost of goods manufactured and cost of goods sold and an income statement. (Hint: Prepare the income statement and schedule of cost of goods sold first followed by the schedule of cost of goods manufactured.) Complete this question by entering your answers in the tabs below. Income COGS Statement Schedule COGM Schedule Prepare an income statement for the year. Superior Company Income Statement Sales Cost of goods sold Gross margin 0 Selling and administrative expenses: Selling expenses Administrative expenses 0 Net operating income < Income Statement COGS Schedule >
Answers
a) The income statement includes the cost of goods sold, selling expenses, administrative expenses, and net operating income.
b) The income statement includes the cost of goods sold, selling expenses, administrative expenses, and net operating income.
c) The COGM schedule calculates the cost of goods manufactured by considering the beginning inventory balances, total manufacturing costs added to production, and the ending inventory balances.
a) Sales: Not provided in the given data.
Cost of goods sold: $663,000 (unadjusted cost of goods sold).
Gross margin: Not provided in the given data.
Selling expenses: $219,000.
Administrative expenses: $157,000.
Net operating income: $32,000.
b) COGS Schedule:
Beginning inventory: Raw materials - $58,000, Work in process - $29,000, Finished goods - $37,000.
Total manufacturing costs added to production: $680,000.
Cost of goods available for sale: $725,000.
Ending inventory: Raw materials - $33,000, Work in process - $?, Finished goods - ?.
Unadjusted cost of goods sold: $663,000.
COGM Schedule:
Beginning inventory: Raw materials - $58,000, Work in process - $29,000, Finished goods - $37,000.
Total manufacturing costs added to production: $680,000.
Cost of goods manufactured: $?,
Ending inventory: Raw materials - $33,000, Work in process - $?, Finished goods - ?.
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Which person's unemployment is an example of frictional unemployment?
А
a rocont collogo graduato who is sooking to enter the workforce for the first timo
B
a factory worker who was laid off during a recession in order to cut operating costs
a retail salesperson who is looking for work after a period of seasonal employment at a departmen
D
an inexperienced computer programmer who lacks the human capital sought after by employers in
Answers
4. How do dependent tasks differ from primary tasks?
Answers
Answer:
The answer is below
Explanation:
Dependent task is a term used to describe a type of task that is associated with the main or independent task under a particular scope of work. It is usually a sub-task of the whole task that needs to be executed.
On the other hand, a Primary task is a term used to describe a type of task that takes the center stage or the major task with priority. It takes the largest or most resources in its execution.
answer quickly pls: it is an accounting question:
Answers
Answer:
$3,500
Explanation:
Profit is calculated by subtracting expenses for revenue.
In the case,
Revenues are
fees from client $20,000
Rent received $ 8,000
total revenue $28,000
expenses
insurance $8,000
advertising $3,000
loan interest $ 12,000
motor expense $1,500
$24,500
profit = $28,000 - $24,500
profits =$3,500
Amy and Jack were loyal customers of GreenFoods, a local grocery store. However, after a couple of incidents where they had to return products that were stale and out of date, the couple decided to try out VeggiesNmore, a chain store that recently opened in town. Both Amy and Jack must move through each stage in the marketing funnel before becoming loyal customers.
Jack has shopped at VeggiesNmore. He was happy with the experience and thought that this could be an alternative to GreenFoods. However, he is also keen to try out other stores in the neighborhood. He is in the ________ stage of the marketing funnel as far as shopping at VeggiesNmore is concerned.
a. aware
b. open to trial
c. most often used
d. nonrejecter
e. regular user
Answers
Answer: B) Open to Trial
Explanation:
❗WILL GIVE BRAINLYLEST❗Susan Works for a company that values their employees meetings deadlines and finding ways to keep the cost of doing business low. What quality standard does Susan's company value?
.
A. Efficiency
B. Diversity
C. Accountability
D. Workplace Safety
Answers
Answer: A: efficiency
Explanation:
your welcome
Susan works for a company that places a high importance on meeting deadlines and finding ways to keep operating expenses to a minimum. Therefore, option (A) is accurate.
What do you know about Diversity factor?Due to this dependency or "diversity" in time, the diversity factor acknowledges that the whole load is not equal to the sum of its parts. In a facility with 10 20-ton air conditioners, for instance, the average full load equivalent running hours per year would be 2000.
It is unknown exactly when each unit goes on because they are all thermostatically controlled. The likelihood of fewer than all ten units turning on simultaneously increases if the ten units are significantly more than the facility's actual peak AC demand.
Thus, despite the fact that each unit works for a total of 2,000 hours each year, they do not all turn on at once to operate.
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which product exists in a monopolistically competitive market?
Answers
Numerous businesses provide competitive products or services that are similar but not exact substitutes. A monopolistic competitive market is present.
Clothing and hair salons are two examples of sectors with monopolistic competition. When businesses provide rival goods or services that are comparable but imperfect substitutes, monopolistic competition exists.
A monopolistic competitive industry has low entry requirements, and decisions made by any one firm do not directly affect those of its rivals. The pricing and marketing choices made by the rival companies serve as their points of differentiation.
Between a monopoly and perfect competition, monopolistic competition exists, combines aspects of both, and includes businesses with comparable but distinct product offerings.
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Answer:
clothing
Explanation:
I learn today that monopolistically competitive is something with varity like cloths there are plenty of options
The concept of limited liability
Answers
Answer: Function, The function of the concept of limited liability is to provide the owners of businesses a way to protect their personal assets. For example, if a business is sued, the person seeking compensation cannot go after the personal property of the business' owners.
Types The concept of limited liability gives rise to a variety of different types of business organizations.These include corporations and limited liability companies, all of which are created by the laws of each of the 50 states.
Significance The concept of limited liability plays a significant role in commerce. Absent the concept of limited liability, individuals would shy away from investing in businesses of any type. The vast majority of individuals would not want to put their personal property at risk by becoming involved in a business enterprise.
Features The concept of limited liability restricts the amount of money a person risks to what she invests in a business enterprise
Exception Protections normally associated with the concept of limited liability can be set aside in certain situations. For example, if a business owner co-mingles personal and business assets -- in a common bank account, for example -- an individual with a claim against the business likely can seek compensation from some, if not all, of the business owner's personal assets.
Expert Assistance A business owner facing a situation in which another individual or business makes a claim against the business should seek legal assistance. A qualified attorney not only protects the interests of the business but works to ensure that the owner's personal assets do not end up in jeopardy.
Explanation:
b) Manuel needs to order fruit and vegetables on a regular basis from his supplier. Consider the advantages and disadvantages of three methods of communication he could use to place orders with his supplier. Recommend the best method for him to use. Justify your answer
Answers
Explanation:
Manuel has several options for communicating with his supplier to place regular orders for fruits and vegetables. Three potential methods include phone calls, emails, and electronic ordering systems (e.g., a dedicated supplier platform, mobile app, or EDI). We will analyze the advantages and disadvantages of each of these methods and recommend the best option for Manuel.
1. Phone calls:
Advantages:
- Direct, real-time communication with the supplier allows for immediate clarification of issues or negotiations.
- Personal interaction may help strengthen the client-supplier relationship.
- Can be executed quickly in urgent or last-minute situations.
Disadvantages:
- No written record of the conversation, potentially leading to misunderstandings or information loss.
- Requires both parties to be available at the same time.
- Longer or more complex orders might be prone to mistakes, as there is no transcript to review.
2. Emails:
Advantages:
- Provides a written record of the order, clarifying expectations and minimizing miscommunication.
- Allows for asynchronous communication, with no need to coordinate schedules.
- Ability to attach documents or images, if necessary.
Disadvantages:
- May lack the personal touch found in phone calls.
- Time-sensitive requests may not receive an immediate response.
- Emails can be lost or delayed due to spam filters, server issues, or full inboxes.
3. Electronic ordering systems (supplier platform, mobile app, EDI):
Advantages:
- Streamlines the ordering process, with consistent formats and fields.
- Real-time updates on inventory, pricing, and delivery schedules.
- Can integrate with other systems such as accounting and inventory management.
- Reduces manual data entry and hence errors.
Disadvantages:
- May require initial investments in technology or training.
- Potential issues with data privacy or platform compatibility.
- If the system crashes or experiences technical issues, orders may be delayed or lost.
Recommendation:
Based on the analysis, the best method for Manuel would be an electronic ordering system. Although it may require some initial investment and training, it provides a streamlined, efficient approach to ordering, reducing the likelihood of errors and offering real-time updates. This method will also save time, as it eliminates the need for coordination and manual data entry. Integration with other systems further supports business operations and decision-making.
While emails may offer a written record of the order, electronic ordering systems provide this advantage without the risk of delays or lost messages. Phone calls, on the other hand, may allow for personal interaction but lack the consistency, documentation, and automation that electronic systems provide. Overall, an electronic ordering system is the most effective and reliable choice for placing regular orders with the supplier.
Mauro products distributes a single product, a woven basket whose selling price is $15 per unit and whose variable expense is $12 per unit. the company’s monthly fixed expense is $4,200.
Required: 1. Calculate the company's break-even point in unit sales. 2 Calculate the company's break-even point in dollar sales
Answers
Required: 1. The company's break-even point in unit sales is 1,400 units.
Required 2: The company's break-even point in dollar sales is $21,000
To calculate the break-even point in unit sales, we need to determine how many units the company needs to sell to cover its fixed and variable costs. This can be done using the following formula:
Break-even point (in units) = Fixed expenses ÷ (Selling price per unit - Variable expenses per unit)
In this case, the fixed expense is $4,200, the selling price per unit is $15, and the variable expense per unit is $12. Plugging these values into the formula, we get:
Break-even point (in units) = $4,200 ÷ ($15 - $12) = 1,400 units
This means that Mauro Products needs to sell 1,400 baskets to cover its fixed and variable costs and break even.
To calculate the break-even point in dollar sales, we need to determine the total sales revenue required to cover the fixed and variable costs. This can be done using the following formula:
Break-even point (in dollars) = Break-even point (in units) x Selling price per unit
In this case, the break-even point (in units) is 1,400 units and the selling price per unit is $15. Plugging these values into the formula, we get:
Break-even point (in dollars) = 1,400 units x $15 = $21,000
This means that Mauro Products needs to generate $21,000 in sales revenue to cover its fixed and variable costs and break even.
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What will happen to profits and domestic prices when a quota is used to protect a domestic monopolist from international competition
Answers
What happens to profits and domestic prices when a quota is used to protect a domestic monopolist from international competition is C. Profits will fall and domestic prices will fall.
What is an import quota?An import quota is a trade restriction, limiting the quantity of a good that can be imported into a country in a period.
It creates undue advantages for domestic producers and discourages international competitiveness.
Answer Options:a. Prices will rise and outputs will fall.
b. Prices will rise and outputs will rise.
c. Profits will fall and domestic prices will fall.
d. Prices will fall and outputs will fall
Thus, a quota is used to protect a domestic monopolist from international competition is C. Profits will fall and domestic prices will fall.
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Question 3 of 25
Which of the following statements best explains why some people get life
insurance and others don't?
A. Life insurance is a cost that has no direct benefit.
B. Some people have more than one life-insurance policy.
C. Different people are willing to face different kinds of risks.
D. Some life insurance companies go out of business before you die.
Answers
Which of the following is not the process of financial management? A Evaluating financial status B Setting goals C Record monthly expenses D Creating financial plan
Answers
Answer:
C) Record monthly expenses
Explanation:
the most effective way for a club general manager/chief operating officer to hire an architectural and engineering consultant for a building project is to:
Answers
The most effective way for a club general manager/chief operating officer to hire an architectural and engineering consultant for a building project is to follow a systematic approach.
Firstly, the club's management should prepare a detailed project scope that outlines the specific requirements of the project, including the budget, timelines, and desired outcomes. Secondly, the club should identify potential architectural and engineering consultants based on their experience, reputation, and past projects. Thirdly, the club should invite proposals from the selected consultants and evaluate their proposals based on their technical expertise, project approach, and cost. It is recommended that the club's management should also conduct interviews with the shortlisted consultants to assess their compatibility with the club's management team and their ability to deliver the desired outcomes.
Finally, the club should negotiate a contract with the selected consultant that includes clear deliverables, timelines, payment terms, and project milestones. Following this systematic approach will ensure that the club selects the most suitable consultant for the project and delivers the desired outcomes within the set timelines and budget.
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HELPPPPPP!!!! ASAPPPPP!!!!!
Answers
Answer:
B I believe
Explanation:
he government increasing/decreasing its spending and/or increasing/decreasing tax rates would have to do with ________________. *
Answers
Answer:
Fiscal policies
Explanation:
Fiscal policies are the actions of the government of adjusting taxes and expenditure to achieve desired macroeconomics objectives. The government's spending and taxation activities have a great influence on the level of economic activities in the country.
The government has the objective of maintaining stable prices, a low inflation rate, a low unemployment rate, and steady economic growth. Through its various agencies, the government receives data showing the parameters of each of the macroeconomic variables. Depending on the state of the economy, the government adjusts taxes and spending to achieve desired objectives.
Which gadgets is hoped to deliver a third industrial revolution?
Answers
The gadget hoped to deliver a third industrial revolution is the 3D printer. This technology enables the creation of physical objects from digital models.
3D printers are considered to be the driving force behind the third industrial revolution due to their potential to revolutionize manufacturing processes. They offer a more efficient and cost-effective method for creating products, allowing for rapid prototyping, customization, and reduced waste. As a result, traditional production lines and supply chains can be streamlined, lowering costs and enabling local production.
Furthermore, 3D printing technology promotes innovation by giving individuals and small businesses access to affordable manufacturing tools. This democratization of production can lead to increased creativity and economic growth. Overall, 3D printers hold great potential for transforming the way we create and consume products, paving the way for a more sustainable and efficient manufacturing industry.
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(02.10 LC) What strategy works best to get out of a rut?
A) Attitude
B) Belief
C) Flexibility
D) Selling out
Answers
Answer is C Flexibility because that's the only thing that goes in the exercise category.
Explanation: I hoped that Helped!!
Answer:
Flexibility.
Explanation:
Cognitive flexibility refers to the brain’s ability to transition from thinking about one concept to another. The quicker you are able to switch or “shift” your thinking from one dimension (e.g. color of an object) to another (e.g. shape of an object), the greater your level of cognitive flexibility.
This tectonic plate pushes against the Eurasian plate to form the Alps and other geographical features
Answers
Answer:
African
Explanation:
You vividly remember where you were when you heard about the Boston Marathon bombing, a very traumatic experience. What you remember is a(n) ________ memory.
Answers
You vividly remember where you were when you heard about the Boston Marathon bombing, a very traumatic experience. What you remember is a(n) flashbulb memory.
What is a flashbulb memory?This is the term that is used to refer to the type of memory that is accurate and also vivid in nature.
This is the answer here because the memory is vivid and the person still knows all that transpired on that day.
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After settling a legal dispute, Frank must chose one of two settlement
payment options. He can either receive an immediate lump sum payment of
$250,000, or he can receive an installment payment package with annual
payments of $25,500 spread out over a span of 10 years. Which would likely
be more beneficial to him, and why?
A. The installment package would be better because it would prevent
him from spending all of his money immediately.
B. The immediate payment would be better because it is more
money overall.
C. The immediate payment would be better because he could use the
money immediately to invest it in a safe, low return account.
D. The installment package would be better because he'll have more
money in 10 years than with the lump sum.
Answers
After settling a legal dispute, Frank must choose The immediate payment of $250,000, because it would be better as he could use the money immediately to invest it in a safe, low-return account. Therefore, option C is the correct option.
What is investing?
Investing or investment is a financial term. It is both a tool and a source to generate wealth and income. Investment means putting the money in respect of an object, as the value of the objects differs with time so the value of the money will also differ accordingly. This fact about investment makes it both, risky and profit-making at the same time.
Thus, after a legal dispute is resolved, Frank must select the $250,000 immediate payment because it would be preferable because he could use the money right away to invest it in a secure, low-return account. As a result, choice C is the best one.
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Dan bought a hotel for $2,600,000 in january 2011. in may 2015, he died and left the hotel to ed. while dan owned the hotel, he deducted $289,000 of cost recovery. the fair market value in may 2015 was $2,800,000. the fair market value six months later was $2,850,000.
a. what is the basis of the property to ed?
Answers
Answer:
$2,800,000
Explanation:
Given that
Purchased a hotel for $2,600,000
The Deducted amount is $289,000
Fair market value in may 2015 is $2,800,000
Six months later, its value is $2,850,000
Based on the above information,
The computation of the basis of the property to ed is shown below:
It should be equivalent to the fair market value i.e. $2,800,000 and hence, the same is to be considered
All other values should be ignored
Select all that apply Review the following statements and select the ones which accurately describe a Petty Cash fund. Select all answers which apply. Multiple select question. It is established to pay for small payments like postage, shipping fees, etc. It is used to avoid the time and cost of writing checks for small amounts. It is an account used to record small sales amounts. It is an expense reported on the income statement. It is an asset reported on the balance sheet.
Answers
Answer:
It is established to pay for small payments like postage, shipping fees, etc.
It is an asset reported on the balance sheet.
It is used to avoid the time and cost of writing checks for small amounts
Explanation:
A Petty Cash is simply any amount of cash kept on hand and used for making small payments. It is usually placed on the asset account and it account also increases on the debit side and decreases on the credit side.
The Petty Cash fund is set up with the use of the following:
1. Date
2. Debit
3. Credit
4. Source Document
Businesses promote use of Petty Cash funds due to it having some small payments for which writing a check is not time or cost effective. It is increase by replacimg or putting more money back in the petty cash box. Before putting money, an evidence of the fund being put in to the box must be complete.
Answer:
It is established to pay for small payments like low-cost supplies and shipping fees, etc.
It is an asset reported on the balance sheet.
Explanation:
first answer is incorrect
companies often make potential employees complete applications, interviews, background checks, and many other processes prior to hiring them. the eeoc considers all of these processes to be:
Answers
The EEOC considers potential employees complete applications, interviews, background checks as Selection tools.
The EEOC is an acronyms for the federal agency called Equal Employment Opportunity Commission.
Basically, the HR personnel of a companies conducts various test, research and interviews for job applicant to allows them select the most qualified applicant for the job.
All the procedure used by the HR personnel such as complete applications, interviews, background checks and other processes prior to hiring them are seen as Selection tools by the Equal Employment Opportunity Commission.
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Publishers view books as one more product in the entertainment business.
true/ false
Answers
Publishers view books as one more outcome in the entertainment business. true.
What is the product of the entertainment industry?The media and entertainment enterprise consists of film, television, radio, and print. These segments contain movies, TV shows, radio shows, news, melody, newspapers, magazines, and textbooks.
What is an entertainment business?Entertainment Business represents the current businesses of the Entertainment Group, including the business of advertising and producing, and operating the venues for, live amusement events, including music concerts, theatrical concerts, and specialized motor sports, as well as sports illustration.
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Scenario 3: Buying a cell phone plan It’s time to buy a new cell phone plan, and you will be paying for this one yourself. The providers offer a lot of options, and your budget is limited. What financial information do you need? What financial decision-making strategies can you use? (Cost comparison, cost-benefit analysis, calculating future expenses, or budgeting?)
Answers
Answer:
hi bestie
cost comparison
Explanation:
responsibility accounting reports for profit centers will include
Answers
Responsibility accounting is the method of segregating a business entity into profit centers and evaluating the performance of each center with the assistance of accounting data. A profit center is a unit of a company that generates revenue and contributes to the company's profitability.
In the case of responsibility accounting reports, the profit center reports are prepared and presented to the respective managers who are responsible for the center's performance.The profit center reports' content varies depending on the type of center, but the following are common items found in responsibility accounting reports for profit centers:Revenue, sales, or operating incomeCost of goods sold, production expenses, or cost of salesGross profit, contribution margin, or gross marginExpenses, indirect expenses, or selling and administrative expensesNet income or profitThe responsibility accounting reports for profit centers typically include a variety of financial and non-financial performance metrics.
The reports may include indicators such as customer satisfaction, market share, return on investment, and return on sales. These metrics are critical for evaluating a profit center's overall performance and determining if it is contributing to the company's overall success. Responsibility accounting reports for profit centers includes revenue, sales, or operating income, cost of goods sold, production expenses, or cost of sales, gross profit, contribution margin, or gross margin, expenses, indirect expenses, or selling and administrative expenses, and net income or profit.
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PLZ HELP
A ______ grade point average gives the student credit for taking more rigorous courses
A. service-learning
B. unweighted
C. weighted
D. dual enrollment
Answers
In order for money to work properly, the different pieces of currency in an economy should look similar to each other. This is an element of which characteristic of money?
A.) Limited supply
B.) Divisibility
C.) Acceptability
D.) Uniformity
Answers
Answer:
D.) Uniformity
Explanation:
I just did it it was correct and this is just if you need a second opinion.
In order for money to work correctly, the different pieces of currency in an economy should look similar to each other. This is an element of the Uniformity of money. Hence, Option D is correct.
What is currency?When a person wants to market or wants to purchase anything, it can be for self, or for a family member or for a friend, or for anyone else, they have to pay a certain amount of money and that money is known as the currency. Just like each nation has its own language, similarly, they also have its own currency.
For instance, if a person wants to buy or purchase anything in India, they have to use the Indian Rupee which is the currency of India, If one is in Saudi Arabia, they will use Saudi Riyal, and many more. There is a market which is known as the free market, in that market gold is also considered a currency. For smooth functioning of the currency, there should be uniformity of money.
Thus, Option D is correct.
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Jules Inc. reported net income of $1,345,200, income from continuing operations of $1,440,000 (after tax), and a loss from a discontinued component of $384,000 (pretax) for the year ended December 31, 2020. The company’s tax rate is 25%. The decision to dispose of the component was made on June 1, 2020, and the component was sold on November 30, 2020.
Compute net proceeds from the sale of the discontinued component if the carrying value of the business compo-nent was $475,000 on November 30, 2020 (the date of sale)
Answers
Based on the information given, the net proceeds from the sale of the discontinued component will be $668,200.
Net loss from discontinued operations after tax:
= $1,440,000 - $1,345,200
= $94800
Loss from discontinued operations after tax = $384,000 × (1 - 25%) = $384,000 × 0.75 = $288,000
Gain on disposal of discontinued operations after tax = $288,000 - $94800 = $193,200
Therefore, the net proceeds from the sale of the discontinued component will be:
Gain on disposal of discontinued operation before tax = $193,200Add: Carrying value of the discontinued component = $475,000Net proceeds = $668,200Read related link on:
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