Question

Utech Company has income before irregular items of $310,000 for the year ended
December 31, 2014. It also has the following items (before considering income taxes):
an extraordinary fire loss of $60,000 and (2) a gain of $30,000 from the disposal of a division. Assume all items are subject to income taxes at a 30% tax rate.
Instructions
Prepare Utech Company’s income statement for 2014, beginning with “Income before irregular items.”



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  • CreatedApril 07, 2014
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