6. BB Company had a net income after tax of P3,500,000 for the year ended December 31, 2021 after giving effect to the following events which occurred during the year. The decision was made on May 31...


6.


BB Company had a net income after tax of P3,500,000 for the year ended December 31, 2021 after giving effect to the following events which occurred during the year. The decision was made on May 31 to discontinue the bottles manufacturing segment.  The bottle manufacturing segment was sold on June 30.  Operating profit from January 1 to May 30 for the bottle manufacturing segment amounted to P950,000 before tax benefit. Bottle manufacturing equipment with a book value of P1,900,000 was sold for P1,150,000.  The tax rate was 30%.




For the year ended December 31, 2021, how much was the company’s after tax income from continuing operations?



Jun 08, 2022
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