Income from continuing operations net


At Ruth Company, events and transactions during 2012 included the following. The tax rate for all items is 30%.(1) Depreciation for 2010 was found to be understated by $60,000.(2) A strike by the employees of a supplier resulted in a loss of $50,000.(3) The inventory at December 31, 2010 was overstated by $80,000.(4) A flood destroyed a building that had a book value of $1,000,000. Floods are very uncommon in that area.The effect of these events and transactions on 2012 income from continuing operations net of tax would be?

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Accounting Basics: Income from continuing operations net
Reference No:- TGS0702728

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