What amount should strand report


Strand, Inc. incurred the following infrequent losses during the year just ended:


A $90,000 write-down of equipment leased to others
A $50,000 adjustment of accruals on long-term contracts
A $75,000 write-off of obsolete inventory

In its income statement for the year, what amount should Strand report as total infrequent losses that are not considered extraordinary?

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Accounting Basics: What amount should strand report
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