In 2019 KRJ International reported earnings before taxes of $100,000 and tax expense of $35,000, leaving net
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In 2019 KRJ International reported earnings before taxes of $100,000 and tax expense of $35,000, leaving net income of $65,000. During the year it sold a warehouse with a net book value of $23,431 for $13,016; the resulting gain or loss on the sale had been included in the calculation of earnings before taxes. Recalculate the company’s net income with the unusual gain or loss removed.
Related Book For
Horngrens Financial And Managerial Accounting The Financial Chapters
ISBN: 9780134486840
6th Edition
Authors: Tracie L. Miller Nobles, Brenda L. Mattison, Ella Mae Matsumura
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