Accounting Quesion,help,how to solve this problem?

[ulilpie]

Bronco Inc. operates manufacturing and retail divisions. For the year ended December 31, 2010, Bronco Inc. had revenues of $870,000 and operating expenses of $880,000, including revenues and expenses from both of its business segments. On June 1, 2010, Bronco sold its retail division at a loss of $15,000. For the period of January 1 to June 1, the retail division had revenues of $200,000 and operating expenses of $240,000. Bronco Inc. should report what amount of income (loss) from continuing operations before taxes? Write the amount on the answer sheet.

 

[ulilpie]

help!!thanks

 

[ulilpie]

also this question, help! thanks again

Par & Birdie CPA’s reported Operating Expenses of $480,000 in its cash basis income statement for 2010. At the beginning of 2010, Prepaid Operating Expenses had a balance of $75,000 and Unearned Revenue had a balance of $4,000. At the end of 2010, Prepaid Operating Expenses had a balance of $80,000, and Unearned Revenue had a balance of $9,000. Under the accrual basis, what would Par & Birdie report for Operating Expenses? Write the amount on the answer sheet.

 

[ulilpie]

last question I have, thanks..

A. Current Assets J. Cost of Goods Sold
B. Long Term Investments K. Operating Expenses
C. Property, Plant & L. Other Revenue/Expense
Equipment M. Discontinued Segment
D. Intangible Assets N. Extraordinary Item
E. Other Assets O. Cash Flow Statement
F. Current Liabilities P. Retained Earnings Statement
G. Long-term Liabilities Q. Notes to Financial Statements
H. Capital Stock R.Not reported in financial statement

For 1 through 14 indicate the preferable financial statement classification by writing appropriate letters from the above lists on the answer sheet. A letter may be used more than once or not at all.
1.Earnings not distributed to stockholders.
2.Operating loss from a discontinued business segment.
3.Preferred Stock at par value.
4.Cumulative effect of a change in accounting principle on periods prior to those currently reported.
5.The company sold one of its warehouses at a material loss.
6.Three-months’ rent paid in advance.
7.Restrictive covenants on long-term debt.
8.An error computing the company’s operating expense in the prior year.
9.The company hires a new chief executive officer.
10.Land held for a future plant site (not currently used in the company’s operations).
11.Increase in an operating expense due to a change in an accounting estimate.
12.Cash received from the issuance of long-term bonds.
13.An increase the current period’s cost of goods sold due to a change from Average Cost to First-in-First-out inventory method.
14.Investment in a subsidiary; no plans to sell in the future.