Meg Inc. incurred the following infrequent losses during 2020: A $\$ 135,000$ write down of equipment leased to others (net of tax)
$A \$60,000$ adjustment of accruals on long-term contracts (net of tax)
A $90,000 write off of obsolete inventory (net of tax) Of those losses, what amount should be included in Meg's 2020 income from continuing operations?

Question

Meg Inc. incurred the following infrequent losses during 2020: A $\$ 135,000$ write down of equipment leased to others (net of tax) 
$A \$60,000$ adjustment of accruals on long-term contracts (net of tax) 
A $90,000 write off of obsolete inventory (net of tax) Of those losses, what amount should be included in Meg's 2020 income from continuing operations?

Quizplus · Accepted Answer

The Answer of Meg Inc. incurred the following infrequent losses during 2020: A $\$ 135,000$ write down of equipment leased to others (net of tax) 
$A \$60,000$ adjustment of accruals on long-term contracts (net of tax) 
A $90,000 write off of obsolete inventory (net of tax) Of those losses, what amount should be included in Meg's 2020 income from continuing operations?

Meg Inc Incurred the Following Infrequent Losses During 2020: A A