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Business, 05.10.2019 23:00 mayamabjishovrvq9

Nnovember 30, 2016, fleiner company announced its plans to discontinue the operations of division p (a major component of the company) by selling the division. on december 31, 2016, division p had not yet been sold and was classified as held for sale. on this date, division p had assets with a book value of $920,000 and liabilities with a book value of $610,000. fleiner estimates that the fair value of division p on this date is $190,000. during 2016, division p earned revenues of $920,000 and incurred expenses of $980,000. fleiner is subject to a 30% income tax rate. required: 1. compute the following for division p of fleiner company: a) pretax income or loss from discontinued operations $ -60,000 loss b) income tax expense or credit for discontinued operations $ 18,000 credit c) after tax income or loss from discontinued operations $ -42,000 loss d) pretax income or loss on write-down of division p held-for-sale $ e) income tax expense or credit for write-down of division p held-for-sale $ f) after tax income or loss on write-down of division p held-for-sale $

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Nnovember 30, 2016, fleiner company announced its plans to discontinue the operations of division p...

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