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Category > Accounting Posted 26 Sep 2017 My Price 6.00

Baer Food Co.

In Baer Food Co.’s 2006 single-step income statement, the section titled “Revenues” consisted of the following:

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Net sales revenue

  

$187,000

Results from discontinued operations:

    
 

Loss from discontinued component Z including loss on disposal of $1,200

$ 16,400

  
 

Less tax benefit

4,000

(12,400)

Interest revenue

  

10,200

Gain on sale of equipment

  

4,700

Extraordinary gain

  

1,500

Total revenues

  

$191,000

In the revenues section of the 2006 income statement, Baer Food should have reported total revenues of

  1. $216,300
  2. $215,400
  3. $203,700
  4. $201,900

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Maurice Tutor
(5)
Status NEW Posted 26 Sep 2017 11:09 PM My Price 6.00

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