This paper circulates around the core theme of what total amount should be reported on Troy’s income statement for the current year under the caption, Discontinued Operations? together with its essential aspects. It has been reviewed and purchased by the majority of students thus, this paper is rated 4.8 out of 5 points by the students. In addition to this, the price of this paper commences from £ 45. To get this paper written from the scratch, order this assignment now. 100% confidential, 100% plagiarism-free.
Troy, Inc. decided on January 1 to
discontinue its telescope manufacturing division. On July 1, the division’s
assets with a book value of $1,260,000 are sold for $840,000. Operating income
from January 1 to June 30 for the division amounted to $130,000. Ignoring
income taxes, what total amount should be reported on Troy’s income statement
for the current year under the caption, Discontinued Operations?