An entity that reports a discontinued operation or an extraordinary item shall present basic and diluted earnings per share amounts for those line items
a. either on the face of the income statement or in the notes to the financial statements.
b. only in the notes to the financial statements.
c. only on the face of the income statement.
d. only if management chooses to do so as these amounts are not required to be disclosed either in the financial statements or the notes thereto.
A
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Underfoot Products uses standard costing. The following information about overhead was generated during May: Standard variable overhead rate $2 per machine hour Standard fixed overhead rate $1 per machine hour Actual variable overhead costs $361,000 Actual fixed overhead costs $175,000 Budgeted fixed overhead costs $190,000 Standard machine hours per unit produced 10 Good units produced 18,000
Actual machine hours 200,000 Compute the variable overhead variance. a. $21,000 (F) b. $21,000 (U) c. $1,000 (U) d. $11,000 (F)
Allen Services purchased 20 delivery vehicles by issuing a 20-year installment note payable for $720,000. On the statement of cash flows, this transaction would be shown in the ________.
A) investing activities section B) non-cash investing and financing activities section C) operating activities section D) financing activities section
When using the allowance method of accounting for uncollectible accounts, the entry to write off Jeannie's uncollectible account is a debit to Allowance for Doubtful Accounts and a credit to Accounts Receivable-Jeannie.
Answer the following statement true (T) or false (F)
The largest contributor to productivity increases is ________, estimated to be responsible for ________ of the annual increase
A) management; over one-half B) Mr. Deming; one-half C) marketing and sales; two-thirds D) capital; 90% E) technology; over one-half