Examlex

Solved

On November 15,2012,Jacobs Co

question 43

Essay

On November 15,2012,Jacobs Co.sold a segment of its business for $2,750,000.The net book value of the segment at the time of its disposal was $3,000,000.Jacobs had pretax operating income of $1,750,000 for 2012 which included $380,000 earned by the discontinued segment prior to its disposal.Assume Jacobs' tax rate is 30%.
Required:
Prepare a partial income statement for Jacobs Co.beginning with pretax income from continuing operations. 


Definitions:

James-Lange Theory

A theory of emotion proposing that emotions result from physiological reactions to events.

Bodily Responses

Refers to the physiological reactions or changes in the body that occur in response to stimuli or emotions.

External Stimulus

An external stimulus is any factor, signal, or condition outside of an organism that can elicit a physiological or psychological response from it.

Controlling Emotion

The process of managing one's feelings to appropriately respond to various situations and to achieve emotional well-being.

Related Questions