Discontinue Operations

Question 1

How are assets and liabilities of a component that qualifies as discontinued operations reported on the balance sheet?

Answer 1

They are reported separately from assets in use or liabilities in use

Question 2

How should assets and liabilities of component that is part of discontinued operations not be reported?

Answer 2

Assets and liabilities should be netted.

They should be reported in the asset section of the balance sheet and liabilities should be reported in the liabilities section of the balance sheet.