Write my essay on ACCT/382 ACCT382 ACCT 382 Week 4 Chapter 4 Homework Question 2

ACCT 382 Week 4 Chapter 4 Homework Question 2 There may be chances that the figures given in our question and your question doesn’t matches. Don’t worry, we are here to help you. Just write to us at studentwhiz@gmail.com and your answer is with you in no time. Question 2 Chance Company had two operating divisions, one manufacturing farm equipment and the other office supplies. Both divisions are considered separate components as defined by generally accepted accounting principles. The farm equipment component had been unprofitable, and on September 1, 2013, the company adopted a plan to sell the assets of the division. The actual sale was completed on December 15, 2013, at a price of $600,000. The book value of the division- assets was $1,000,000, resulting in a before-tax loss of $400,000 on the sale. The division incurred a before-tax operating loss from operations of $130,000 from the beginning of the year through December 15. The income tax rate is 40%. Chance- after-tax income from its continuing operations is $350,000.
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