Byron inc. decided 0n august 1 2010 to dispose of a, Ask an Expert

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Byron inc. decided 0n august 1, 2010, to dispose of a component of its business. The component was sold on November 30, 2010. Byron's income for 2010 included income of $250,000 from operating the discontinued segment from January 1 to the sale date. Byron incurred a loss on November 30 sale of $220,000. Ignoring income taxes, what amount should be reported in the 2010 income statement as the net income or loss under ' discontinued operations ' ?

a. $220,000 loss

b. $30,000 loss

c. $30,000 income

d. $250,000 income

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9404683

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