1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
valentinak56 [21]
3 years ago
5

December 2017, Becker Corp. learned of a favorable judgement of 1.5 million relating to litigation involving a competitor. The c

ompany's attorney informs Becker that the opposing litigant has filed an appeal and that the company may ultimately receive about $400,000. How should they recognize this gain contingency on financial statements?
Business
1 answer:
spayn [35]3 years ago
7 0

Answer: Disclose the gain contingency in the notes only

You might be interested in
Which professional helps individuals and families minimize risk? A. real estate broker B. insurance agent C. personal finance ma
Aleks04 [339]
B. Insurance agent.......
4 0
3 years ago
Read 2 more answers
Additional sales were made to Larry by Bird in 2018; inventory costing $24,000 was transferred at a price of $40,000. Of this to
Alona [7]

Answer:

$11,200

Explanation:

As not mentioned in the account. It is Assumed that the Larry and Bird are related parties and Bird made a sale at a transfer price of $40,000 with $24,000 cost of inventory.

Bird can only recognize the equity up to the ratio of inventory used or sold by the related party.

As 30% was not consumed then consumption will be 70%, so 70% of the income is realized and it will be recorded.

Equity Income = $40,000 - $24,000 = $16,000

Realized Equity income = $16,000 x 70% = $11,200

* There is some ambiguity in the question given.

7 0
3 years ago
What "extras" can you include in a nontraditional resume that would not be included in a traditional resume? Only correct answer
NISA [10]
<h2><em>What "extras" can you include in a nontraditional resume that would not be included in a traditional resume?</em></h2>

  • <em>The extra items that you can include in a web resume that would not be included in a traditional resume are graphics, buttons and pictures</em>

<em>hope </em><em>it</em><em> helps</em>

<em>#</em><em>c</em><em>a</em><em>r</em><em>r</em><em>y</em><em> </em><em>on</em><em> learning</em>

4 0
3 years ago
Suppose there are only three firms in a market. The largest firm has sales of $500 million, the second-largest has sales of $300
belka [17]

Answer:

50% share.

Explanation:

Given:

There are only three firms in a market.

The largest firm has sales of $500 million.

The second-largest has sales of $300 million.

The smallest has sales of $200 million.

Question asked:

The market share of the largest firm is ?

Solution:

As we know:

Market\ share=\frac{Total\ sales\ of\ the\ firm}{Total\ sales\ of\ the \ market} \times100

Total sales of the largest company = $500 million.

Total sales of the market = Sales of largest firm + Sales of second largest firm+ Sales of smallest firm

Total sales of the market = $500 million + $300 million + $200 million

                                          = $1000 million

Market\ share=\frac{Total\ sales\ of\ the\ firm}{Total\ sales\ of\ the \ market} \times100

                       =\frac{500}{1000} \times100\\ \\ =\frac{50000}{1000} \\ \\ =50\%

Therefore, the market share of the largest firm is 50%.

7 0
4 years ago
Kristi sells purses. her cost is $35 per purse. on a certain day, she sells 12 purses, and her producer surplus for that day amo
Sonja [21]
<span>For a producer surplus of $180 coming from sales of 12 units, this would be the result from (180 / 12), or $15 per purse. Taking the cost she has to pay for each unit, $35, and adding the $15 surplus to each, this leads to a sale price of (35 + 15), or $50 per purse.</span>
8 0
4 years ago
Other questions:
  • Cheyenne has a small bakery specializing in gourmet cupcakes. In response to customer demand, she has added gluten-free cupcakes
    13·1 answer
  • Imagine you are planning a local arts festival on a low budget, How would you market this event
    6·2 answers
  • Which of the following weakens the government control in the marketplace?
    10·2 answers
  • Reprise Entertainment, Inc., a U.S. television and movie production company, files a suit against Substantivo TV, Ltd., a Mexica
    15·1 answer
  • A property title search firm is contemplating using online software to increase the productivity of the researcher performing th
    9·1 answer
  • You are the Accounting Director for SpaceX based in New York. Your department is implementing new accounting software (called Fi
    15·1 answer
  • Omega Enterprises budgeted the following sales in units: January 40,000 February 30,000 March 50,000 Omega's policy is to have 3
    5·1 answer
  • g If the beginning work in process includes 200 units that are 20% complete with respect to conversion and 30% complete with res
    6·1 answer
  • On January 1, 2022, the Ivanhoe Company ledger shows Equipment $48,300 and Accumulated Depreciation $17,720. The depreciation re
    5·1 answer
  • What is the best explanation for the slope of the keynesian zone of the aggregate supply curve?
    15·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!