In its 2010 income statement what amount should james, Ask an Expert

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James, Inc. incurred the following infrequent losses during 2010:

A $70,000 write-down of equipment leased to others.

A $40,000 adjustment of accruals on long-term contracts.

A $60,000 write-off of obsolete inventory.

In its 2010 income statement, what amount should James report as total infrequent losses that are not considered extraordinary.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9439122

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