Hogan Corp.'s trial balance of income statement accounts for the year ended December 31, 2008 included the following:
On Hogan's multiple-step income statement for 2008,
-Extraordinary loss is
A) $8,400.
B) $12,000.
C) $14,700.
D) $21,000.

Question

Hogan Corp.'s trial balance of income statement accounts for the year ended December 31, 2008 included the following:
  On Hogan's multiple-step income statement for 2008,
-Extraordinary loss is
A) $8,400. 
B) $12,000. 
C) $14,700. 
D) $21,000.

Quizplus · Accepted Answer

$12,000 × 0.7 = $8,400