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King Inc.incurred the Following Infrequent Losses During 2017

Question 44

Multiple Choice

King Inc.incurred the following infrequent losses during 2017:
A $90,000 write down of equipment leased to others (net of tax)
A $40,000 adjustment of accruals on long-term contracts (net of tax)
A $60,000 write off of obsolete inventory (net of tax)
Of those losses, what amount should be included in King's 2014 income from continuing operations?


A) $190,000
B) $150,000
C) $130,000
D) $100,000

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