Wenger Company Reported Income Before Taxes of $1,200,000 and a Discontinued

question 107

Multiple Choice

Wenger Company reported income before taxes of $1,200,000 and a discontinued operations loss of $300,000. Assume that the company's tax rate is 30%. What amounts will be reported on the income statement for income from continuing operations and a discontinued operations loss, respectively?

• A) $840,000 and $300,000
• B) $840,000 and $210,000
• C) $990,000 and $300,000
• D) $990,000 and $210,000

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Definitions:

Statistical Technique

A mathematical method used to analyze, interpret, or predict data outcomes.

Studies

Systematic investigations or research aimed at acquiring knowledge and understanding in a specific field.

Psychotherapy

A therapeutic treatment involving psychological techniques designed to encourage communication of conflicts and insight into problems, with the aim of alleviating symptoms of mental disorder.

Unconscious Thoughts

Mental processes not currently in focal awareness that can influence behaviors and perceptions.