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Fittoniya [83]
3 years ago
14

Management can estimate the amount of loss that will occur if the company does not prevail in a currently contested lawsuit. If

losing the suit is reasonably possible, which of the following describes how the entity may report the loss contingency in the financial statements?
Balance Sheet

Notes to Financial Statements

a. Accrued as liability Not disclosed
b. Not accrued Not disclosed
c. Not accrued Disclosed
d. Accrued as liability Disclosed
Business
1 answer:
RideAnS [48]3 years ago
8 0

Answer:

c. Not accrued Disclosed.

Explanation:

The management has estimated the loss contingency of lawsuit as reasonably possible. The Contingent liability is reasonably possible then it will be disclosed in the Notes to Financial Statements and not accrued in Balance sheet. If the contingent liability is probable then the accrual needs to be made in the Balance Sheet.

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Describe the process of roof top vegetable production?​
GrogVix [38]

Answer:

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Consult with the building engineer. ...

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Pick the right planting medium.

Explanation:

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3 years ago
Products that appeal to mothers have evolved since mothers are no longer homogeneous like before. Instead, there are traditional
cupoosta [38]

Answer: Change in lifestyle

Explanation:

The lifestyle of current day mom's is very different from what was obtainable in the past, therefore manufacturers need to adjust their products to suit the new lifestyle of current day mom's. Lifestyle here means the behavior, likes and dislikes of current day mom's.

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2 years ago
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What is the fullform of <br> MD,GM<br>​
kiruha [24]

United States. In the United States, the first professional medical degree is known as Doctor Of Medicine (MD.) A student must complete a 4 year Undergraduate degree in order to pursue a MD. Upon completing undergraduate studies, the graduate is expected to successfully pass the Medical College Admission Test (MCAT.)

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4 0
2 years ago
Oriole Company reports the following for the month of June. Date Explanation Units Unit Cost Total Cost June 1 Inventory 390 $6
rewona [7]

Answer:

Cost of goods available for sale = $12,480

Explanation:

<em>The cost of goods available for sale is the sum of the value of the opening inventory plus the cost of new purchase. The cost of new purchase would include carriage inward cost if any.</em>

<em>For Oriole company , the cost of goods available for sale would be computed as follows:</em>

                                                                           $

Opening inventory                                            2,340

Purchases

June 12                5,460

June 23               <u> 4,680 </u>                                 <u> 10,140</u>

Cost of goods available for sale                     <u>12,480</u>

<em>Note that the sales made are not relevant for the purpose of determining the cost of goods available for sale. Also, the closing inventory would have been deducted from the cost of goods available for sale to arrive at the cost of goods sold should the question require it.</em>

7 0
2 years ago
Molen Inc. has an outstanding issue of perpetual preferred stock with an annual dividend yield of 7.50% and a par value of $60.
maksim [4K]

Answer:

10.71%

Explanation:

The computation of the required rate of return on this preferred stock is shown below :

The Required return on preferred stock is

= Dividend ÷ market value of preferred stock

= 7.50 ÷ $70

= 10.71%

By dividing the dividend from the market value of preferred stock  we can get the  Required return on preferred stock and the same is to be considered

therefore we ignored the par value i.e $60 as this is not relevant

5 0
2 years ago
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