Reported Income From Continuing Operations Of

Reported income from continuing operations before taxes during 2020 of 790 000.

Reported income from continuing operations of. The continuing operations are reported separately from discontinued operations in the financial statements. A multistep income statement reports income from continuing operations separately from nonoperating income. Reported income from continuing operations before taxes during 2014 of 817 000. Additional transactions occurring in 2020 but not considered in the 804 200 are as follows.

Additional transactions occurring in 2014 but not considered in the 817 000 are as follows 1 the corporation experienced an uninsured flood loss extraordinary in the amount of 92 400 during the year. At the beginning of 2018 the corporation purchased a machine for 57 600 salvage value of 9 600 that had. The continuing operations should the primary income source for businesses which means that the bulk of the revenue that a business earns should be from its daily regular operations. Reported income from continuing operations before taxes during 2020 of 804 200.

The tax rate on this item is 46 2 at the beginning of 2012 the corporation purchased a machine for. Additional transactions occurring in 2020 but not used in computing the 790 000 are as follows. When its president died the corporation realized 150 000 from an insurance policy.