This preview shows pages 1–3. Sign up to view the full content.
This preview has intentionally blurred sections. Sign up to view the full version.View Full Document
Unformatted text preview: 4-33Page 1a)Revenue from the sale of obsolete inventoryb)Loss on sale of the fertilizer production division of a lawn supplies manufacturerc)Loss stemming from expropriation of assets by a foreign governmentd)Gain resulting from changing asset balances to adjust for the effect of excessivedepreciation charged in error in prior yearse)Loss resulting from excessive accrual in prior years of estimated revenuesfrom long term contractsf)Costs incurred to purchase a valuable patentg)Net income from the discontinued dune buggy opeations of a custom car designerh)Costs of rearranging plant machinery into a more efficient orderI)Error made in capitalizing advertising expense during the prior yearj)Gain on sale of land to the governmentk)Loss from destruction of crops by hailstorml)Additional depreciation resulting from a change in the estimated useful life of an assetm)Gain on sale of long term investmentsn)Loss from spring floodingo)Sale of obsolete inventory at less than book valuep)Additional federal income tax assessment for prior yearsq)Loss resulting from the sale of a portion of a business componentr)Costs associated with moving a U.S. business to Japans)Loss resulting from a patent that was recently determined to be worthless4-33Page 2Income from Continuing Operations--INCOME STATEMENTDiscontinued Operations---INCOME STATEMENTExtrordinary Items INCOME STATEMENTAdjustment to Retained earningsBALANCE SHEETIncome from Continuing Operations--INCOME STATEMENTIntangible Asset---BALANCE SHEETDiscontinued Operations---INCOME STATEMENTDeferred Gains and LossesBALANCE SHEETAdjustment to Retained earningsBALANCE SHEETIncome from Continuing Operations--INCOME STATEMENTExtrordinary Items INCOME STATEMENTIncome from Continuing Operations--INCOME STATEMENT...
View Full Document
This note was uploaded on 08/12/2011 for the course ACCT 2201 taught by Professor Alvarez during the Spring '11 term at FIT.
- Spring '11