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28%.
16%.
7Multiple Choice Question 174
Parrish, Inc. decided on January 1 to discontinue its telescope
manufacturing division. On July 1, the division’s assets with a book
value of $1,250,000 are sold for $850,000. Operating income from
January 1 to June 30 for the division amounted to $125,000. Ignoring
income taxes, what total amount should be reported on Parrish’s
income statement for the current year under the caption, Discontinued
Operations?
$400,000 loss
$275,000 loss
$525,000
$125,000
8Multiple Choice Question 112
Earnings per share is calculated
only for preferred stock.
only for treasury stock.
for common and preferred stock.
only for common stock.
9-