In its proposed 2014 income statement, Hrabik Corporation reports income before income taxes $500,000, extraordinary loss due
Question:
In its proposed 2014 income statement, Hrabik Corporation reports income before income taxes $500,000, extraordinary loss due to earthquake $150,000, income taxes $200,000 (not including irregular items), loss on operation of discontinued music division $60,000, and gain on disposal of discontinued music division $40,000. The income tax rate is 30%. Prepare a correct income statement, beginning with income before income taxes.
A Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may...
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 57% (7 reviews)
HRABIK CORPORATION Income Statement Partial Income befor...View the full answer
Answered By
Ashington Waweru
I am a lecturer, research writer and also a qualified financial analyst and accountant. I am qualified and articulate in many disciplines including English, Accounting, Finance, Quantitative spreadsheet analysis, Economics, and Statistics. I am an expert with sixteen years of experience in online industry-related work. I have a master's in business administration and a bachelor’s degree in education, accounting, and economics options.
I am a writer and proofreading expert with sixteen years of experience in online writing, proofreading, and text editing. I have vast knowledge and experience in writing techniques and styles such as APA, ASA, MLA, Chicago, Turabian, IEEE, and many others.
I am also an online blogger and research writer with sixteen years of writing and proofreading articles and reports. I have written many scripts and articles for blogs, and I also specialize in search engine
I have sixteen years of experience in Excel data entry, Excel data analysis, R-studio quantitative analysis, SPSS quantitative analysis, research writing, and proofreading articles and reports. I will deliver the highest quality online and offline Excel, R, SPSS, and other spreadsheet solutions within your operational deadlines. I have also compiled many original Excel quantitative and text spreadsheets which solve client’s problems in my research writing career.
I have extensive enterprise resource planning accounting, financial modeling, financial reporting, and company analysis: customer relationship management, enterprise resource planning, financial accounting projects, and corporate finance.
I am articulate in psychology, engineering, nursing, counseling, project management, accounting, finance, quantitative spreadsheet analysis, statistical and economic analysis, among many other industry fields and academic disciplines. I work to solve problems and provide accurate and credible solutions and research reports in all industries in the global economy.
I have taught and conducted masters and Ph.D. thesis research for specialists in Quantitative finance, Financial Accounting, Actuarial science, Macroeconomics, Microeconomics, Risk Management, Managerial Economics, Engineering Economics, Financial economics, Taxation and many other disciplines including water engineering, psychology, e-commerce, mechanical engineering, leadership and many others.
I have developed many courses on online websites like Teachable and Thinkific. I also developed an accounting reporting automation software project for Utafiti sacco located at ILRI Uthiru Kenya when I was working there in year 2001.
I am a mature, self-motivated worker who delivers high-quality, on-time reports which solve client’s problems accurately.
I have written many academic and professional industry research papers and tutored many clients from college to university undergraduate, master's and Ph.D. students, and corporate professionals. I anticipate your hiring me.
I know I will deliver the highest quality work you will find anywhere to award me your project work. Please note that I am looking for a long-term work relationship with you. I look forward to you delivering the best service to you.
3.00+
2+ Reviews
10+ Question Solved
Related Book For
Accounting Principles
ISBN: 9781118566671
11th Edition
Authors: Jerry Weygandt, Paul Kimmel, Donald Kieso
Question Posted:
Students also viewed these Managerial Accounting questions
-
In its proposed 2014 income statement, Grinders Corporation reports income before income taxes $500,000, extraordinary loss due to earthquake $160,000, income taxes $175,000 (not including irregular...
-
In its proposed 2014 income statement, Grinders Corporation reports income before income taxes $500,000, income taxes $175,000 (not including irregular items), loss on operation of discontinued music...
-
In a particular state, the sales tax rate is 5 percent of sales. The retailer is allowed to record both the selling price and the tax in the same account. Explain how to compute the sales tax due...
-
Susan has completed a concept map, assisted by her colleagues, and has recently returned from her meeting with her manager. Her manager is very concerned about the high attrition rate and poor...
-
The following reaction scheme is from a synthesis of cordycepin (a nucleoside antibiotic) and the first synthesis of 29-deoxyadenosine (reported in 1958 by C. D. Anderson, L. Goodman, and B. R....
-
The master budget at Cherrylawn Corporation at the beginning of the year was based on sales of 275,000 units with revenues of $3,300,000. Total variable costs were budgeted at $1,925,000 and fixed...
-
Consider a deterministic cash flow stream \(\left(x_{0}, x_{1}, x_{2}, \ldots, x_{n} ight)\) with all positive flows. Let \(\mathrm{PV}(r)\) denote the present value of this stream at an interest...
-
A proton moving in the plane of the page has a kinetic energy of 6.00 MeV. A magnetic field of magnitude B = 1.00 T is directed into the page. The proton enters the magnetic field with its velocity...
-
Lagoon Plc's Directors are planning to instigate the removal of its auditors, KPNG due to their inability to deliver "quality audit works". However, the Audit Manager has insisted that this move by...
-
We have a baseband channel with a 1-MHz bandwidth. What is the data rate for this channel if we use each of the following line coding schemes? a. NRZ-L b. Manchester c. MLT-3 d. 2B1Q
-
The condensed financial statements of Murawski Company for the years 2013 and 2014 are presented below and on page 874. Compute the following ratios for 2014 and 2013. (a) Current ratio. (b)...
-
Financial information for Kurzen Inc. is presented below. Instructions Prepare a schedule showing a horizontal analysis for 2015 using 2014 as the baseyear. December 31, 2015 Current assets Plant...
-
Chaperones are generally thought to facilitate protein folding. What additional functions do mitochondrial chaperones perform?
-
A small reaction bomb fitted with a sensitive pressure-measuring device is flushed out and then filled with pure reactant A at 1-atm pressure. The operation is carried out at 25OC, a temperature low...
-
Create an app that scrolls a series of images across a marquee screen on a Canvas.
-
Take a copy of the above program, rename the class and modify the appropriate line so that the program accepts input from the standard input stream (i.e., using a Scanner around the standard input...
-
Write code to draw hearts, spades, clubs, and diamonds. To draw a heart, draw a filled diamond, then attach two filled semicircles to the upper left and upper right sides.
-
Write a program that takes an integer command-line argument n, reads n floating-point numbers from standard input, and prints their mean (average value) and sample standard deviation (square root of...
-
Graph each function in Problems 4752. h(x) = 10 + 2x 40+0.5x if 0 x 20 if x > 20
-
For all of the following words, if you move the first letter to the end of the word, and then spell the result backwards, you will get the original word: banana dresser grammar potato revive uneven...
-
The ______________ Act put the force of the federal government behind collective bargaining.
-
(a) Standard costs are the expected total cost of completing a job. Is this correct? Explain. (b) A standard imposed by a governmental agency is known as a regulation. Do you agree? Explain.
-
(a) Explain the similarities and differences between standards and budgets. (b) Contrast the accounting for standards and budgets.
-
Standard costs facilitate management planning. What are the other advantages of standard costs?
-
Assignment 1 1. Write a program to implement the following formula for a -10 and b = 4; result = (a + 2b - 4ab)^4 // ^4 means to the power of 4 (1 mark) 2. Write a program to implement result = sin...
-
I have most of it done, I just need help fixing some things. import java.util.Scanner; public class Main { private String[] database; private Scanner input; public Main() { database = new...
-
Part 2 - WeatherMonitor Suppose you observe daily temperatures and want to know how hot each day is compared to recent days. That is, you want to: keep track of daily temperature values and know for...
Study smarter with the SolutionInn App