In its income statement for the year what amount should, Ask an Expert

Accounting

Strand, Inc. incurred the following infrequent losses during the year just ended:

A $90,000 write-down of equipment leased to others

A $50,000 adjustment of accruals on long-term contracts

A $75,000 write-off of obsolete inventory

In its income statement for the year, what amount should Strand report as total infrequent losses that are not considered extraordinary?

A. $215,000

B. $165,000

C. $140,000

D. $125,000

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9410109

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