Reno Corporation Disposed of One of Its Segments in the Second

question 12

Multiple Choice

Reno Corporation disposed of one of its segments in the second quarter and incurred a gain from disposal of discontinued segment of $300,000,net of taxes.What is the effect of this gain from disposal of discontinued segment?

• A)Increase each of the last three quarters' net income by $100,000
• B)Increase net income from operations for the year by $300,000
• C)Increase second quarter net income by $300,000
• D)Increase each quarter's net income by $75,000

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