Use the following information for questions Sesame Corp.'s adjusted trial balance at December 31, 2014 included the following: Sesame uses the perpetual system, and their income tax rate is 30%.On Sesame's multiple- step income statement for 2014:
-Income from continuing operations is
A)$17,500.
B)$52,800.
C)$24,500.
D)$26,600.

Question

Use the following information for questions Sesame Corp.'s adjusted trial balance at December 31, 2014 included the following:   Sesame uses the perpetual system, and their income tax rate is 30%.On Sesame's multiple- step income statement for 2014:
-Income from continuing operations is
A)$17,500. 
B)$52,800. 
C)$24,500. 
D)$26,600.

Quizplus · Accepted Answer

Income from continuing operations is calculated by subtracting expenses from revenues for ongoing business activities. The correct choice is $24,500, which represents the income from these operations.

Use the Following Information for Questions Sesame Corp