BUS 320 Lecture Notes - Lecture 20: Net Income, Income Statement, Book Value

• School: Simon Fraser University
• Department: Business Administration
• Course: BUS 320
• Professor: Dennis Chung

Document Summary

= [(1,250,000-170,000)-1,320,000] x (1-30%) = -240,000 x 70% = -,000. = [(1,300,000-100,000)-(1,250,000-170,000)] x (1-30%) = 120,000 x 70% = ,000 (v) $ k: gain on disposal of net assets of oven meals division (20x2) (iv) $ i: loss from operations of oven meals division (20x2) = -166,000 x (1-30%) = -166,000 x 70% = -,200 (ii) $ c: loss from operations of oven meals division (20x1) (iii) $ e: loss on impairment of net assets of oven meals division (20x1) = [(-108,000)+(-143,000)] x (1-30%) = -251,000 x 70% = -,700. = [194,000+190,000-(-108,000)-(-143,000)] x (1-30%) = 635,000 x 70% = ,500. = [(1,750,000-100,000)-1,320,000] x (1-30%) = 330,000 x 70% = ,000 (ix) $ v: income from operations of oven meals division (20x2) = 34,000 x (1-30%) = 34,000 x 70% = ,800 (vi) $ n: income from continuing operations (20x1) 2 (ii) for the year ended december 31, 20x1.