During 2020, Honeydew Corp disposed of Blackberry Division, a major segment of its business. Honeydew realized a gain of $1,500,000, net of taxes, on the sale of Blackberry's assets. During 2020, Blackberry's operating losses, net of taxes, were $1,800,000. How should these facts be reported in Honeydew's income statement for 2020?
a) $\quad$ $\quad$ Total Amount to be included in
$\begin{array}{llcc} \text { Income from } & \text {Results of} \\\underline{ \text {Continuing operations} } &\underline{ \text { Discontinued Operations}}\\ \text { \$ 1,800,000 loss } & \text { \$ 1,800,000 gain}\\\end{array}$

b) $\begin{array}{llcc} \text { 300,000 loss}&0\end{array}$

c) $\begin{array}{llcc}0&300,000 \text { loss }\end{array}$

d) $1,500,000 \text { gain } \quad 1,800,000 \text { loss }$

Question

During 2020, Honeydew Corp disposed of Blackberry Division, a major segment of its business. Honeydew realized a gain of $1,500,000, net of taxes, on the sale of Blackberry's assets. During 2020, Blackberry's operating losses, net of taxes, were $1,800,000. How should these facts be reported in Honeydew's income statement for 2020?
a)

\quad

\quad

Total Amount to be included in

\begin{array}{llcc} \text { Income from } & \text {Results of} \\\underline{ \text {Continuing operations} } &\underline{ \text { Discontinued Operations}}\\ \text { \$ 1,800,000 loss } & \text { \$ 1,800,000 gain}\\\end{array}

b)

\begin{array}{llcc} \text { 300,000 loss}&0\end{array}

c)

\begin{array}{llcc}0&300,000 \text { loss }\end{array}

d)

1,500,000 \text { gain } \quad 1,800,000 \text { loss }

Quizplus · Accepted Answer

The Answer of During 2020, Honeydew Corp disposed of Blackberry Division, a major segment of its business. Honeydew realized a gain of $1,500,000, net of taxes, on the sale of Blackberry's assets. During 2020, Blackberry's operating losses, net of taxes, were $1,800,000. How should these facts be reported in Honeydew's income statement for 2020? a) $\quad $ $\quad $Total Amount to be included in $\begin{array}{llcc} \text { Income from } & \text {Results of} \ \underline{ \text {Continuing operations} } &\underline{ \text { Discontinued Operations}}\ \text { \$ 1,800,000 loss } & \text { \$ 1,800,000 gain}\ \end{array}$ b)$\begin{array}{llcc} \text { 300,000 loss}&0 \end{array}$ c)$\begin{array}{llcc} 0&300,000 \text { loss } \end{array}$ d)$1,500,000 \text { gain } \quad 1,800,000 \text { loss }$

During 2020, Honeydew Corp Disposed of Blackberry Division, a Major \quad

During 2020, Honeydew Corp Disposed of Blackberry Division, a Major $\quad$