Spencer corp.'s attorney calculates that the company will ultimately control to pay between $250,000 and $500,000 relating to current litigation. spencer should accrue a contingent liability and loss of: $250,000.
<h3>What is contingent liability?</h3>
Liabilities that may be incurred by a company dependent on the result of an uncertain future event, such as the result of an ongoing lawsuit, are known as contingent liabilities. When they are both probable and reasonably estimable as a "contingency" or "worst case" financial consequence, these obligations are not recorded in a company's records and are not displayed on the balance sheet.
The kind and size of the contingent liabilities may be described in a footnote to the balance sheet. It is feasible to categories a loss's possibility as remote, improbable, or probable. It can be known, reasonably estimable, or not reasonably estimable whether a loss can be estimated. It might or might not happen.
Hence, Spencer corp.'s attorney calculates that the company will ultimately control to pay between $250,000 and $500,000 relating to current litigation. spencer should accrue a contingent liability and loss of: $250,000.
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<span>b. The second is lowest; the third is highest.
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"Stock prices decrease" is the one among the following choices given in the question that <span>often happens to stock prices when a recession in the economy is in the future. The correct option among all the options that are given in the question is the second option or option "B". I hope the answer helps you.</span>
Answer: An increase in demand for digital cameras over 35mm cameras.
Answer:
Total overhead= $39,900
Explanation:
Giving the following information:
Variable manufacturing overhead $1.90
<u>First, we need to calculate the total fixed overhead:</u>
Total fixed overhead= 7,800*3.8
Total fixed overhead= $29,640
<u>Now, the total overhead for 5,400 units:</u>
Total variable overhead= 1.9*5,400= 10,260
Total fixed overhead= 29,640
Total overhead= $39,900
