Business, 26.02.2020 02:46 tookie6208
Vaughn Manufacturing is being sued for illness caused to local residents as a result of negligence on the company's part in permitting the local residents to be exposed to highly toxic chemicals from its plant. Vaughn's lawyer states that it is probable that Vaughn will lose the suit and be found liable for a judgment costing Vaughn anywhere from $1,840,000 to $9,030,000. However, the lawyer states that the most probable cost is $5,400,000.
As a result of the above facts, Vaughn should accrue .
A) a loss contingency of $1,840,000 and disclose an additional contingency of up to $7,190,000.
B) a loss contingency of $5,400,000 and disclose an additional contingency of up to $3,630,000.
C) a loss contingency of $5,400,000 but not disclose any additional contingency.
D) no loss contingency but disclose a contingency of $1,840,000 to $9,030,000.
Answers: 3
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Business, 22.06.2019 12:10
The following transactions occur for badger biking company during the month of june: a. provide services to customers on account for $32,000. b. receive cash of $24,000 from customers in (a) above. c. purchase bike equipment by signing a note with the bank for $17,000. d. pay utilities of $3,200 for the current month. analyze each transaction and indicate the amount of increases and decreases in the accounting equation. (decreases to account classifications should be entered as a negative.)
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A4-year project has an annual operating cash flow of $59,000. at the beginning of the project, $5,000 in net working capital was required, which will be recovered at the end of the project. the firm also spent $23,900 on equipment to start the project. this equipment will have a book value of $5,260 at the end of the project, but can be sold for $6,120. the tax rate is 35 percent. what is the year 4 cash flow?
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Abank has $132,000 in excess reserves and the required reserve ratio is 11 percent. this means the bank could have in checkable deposit liabilities and in (total) reserves.
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Vaughn Manufacturing is being sued for illness caused to local residents as a result of negligence o...
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