![]() Indicate whether each item should be classified as discontinued operations, other revenues, or other expenses. The company owns and operates over 40 restaurants but sold one restaurant this year at a gain of $650,000. The employee won a settlement for$100,000, but California Sports Grill has not yet paid the settlement. A restaurant waiter slipped on a wet floor and sued the company. An employee strike to increase wages and benefits shut down operations for several days at an estimated cost of $200,000. ![]() The company sells the frozen retail foods division of the business for a profit of$2.4 million in order to focus more on the restaurant and catering business. Social, economical and political inequality is a global phenomenon that produces the horrendous ignominy. California Sports Grill has three operating divisions: restaurants, catering, and frozen retail foods. Uninsured losses from the fire are estimated to be $450,000. One of the company's restaurants was destroyed in a forest fire that raged through Southern California. ![]() As an auditor for Bernard and Thomas, you are responsible for determining the proper classification of income statement items in the audit of California Sports Grill. ![]()
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