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kolbaska11 [484]
4 years ago
7

Hayne Co. filed suit against Hillsborough, Inc., seeking damages for copyright violations. Hillsborough's legal counsel believes

it is probable that Hillsborough will settle the lawsuit for an estimated amount in the range of $100,000 to $200,000, with all amounts in the range considered equally likely. How should Hillsborough report this litigation?
A. As a liability for $150,000 with disclosure of the range
B. As a liability for $100,000 with disclosure of the range
C. As a liability for $200,000 with disclosure of the range
D. As a disclosure only. No liability is reported
Business
1 answer:
kolbaska11 [484]4 years ago
7 0

Answer:

D) As a disclosure only. No liability is reported

Explanation:

US GAAP requires that probable contingent liabilities (like lawsuits) are disclosed in the footnotes of the financial statements. If it is probable that the liability will exist, in this case that Hillsborough will lose the case, then they must record the contingent liability at its most reasonable amount. If the amount cannot be estimated, then they must record it at its lowest amount. The key word is "probable", since it must be likely that the event occurs in order for it to be recorded in the footnotes.

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Ahrens Tech incurs costs of $33 per unit ($21 variable and $12 fixed) to make a widget it normally sells for $58. Ahrens has rec
vekshin1

Ahrens should accept Wholesaler B offers to buy 15,500 units at $42 each

<h3>What is Wholesaler?</h3>

The sale of goods or merchandise to retailers, industrial, commercial, institutional, or other professional business users, or other wholesalers and related subordinated services, is known as wholesaling or distributing.

In the supply chain, a wholesaler serves as an intermediary or middleman. The most common type of wholesaler is a company that buys finished products from manufacturers and distributes them to retailers, who then sell smaller quantities of the product to end users.

To summarize the key distinctions, retailers sell goods directly to end users in small quantities. Wholesalers, on the other hand, sell goods to other store owners and retail industry professionals, who then sell the goods to the end user.

To know more about Wholesaler follow the link:

brainly.com/question/7062667

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8 0
2 years ago
Mark delegates a responsibility to lorraine. she is to conduct several phone interviews with ceos of client companies. what shou
Vanyuwa [196]
<span>Mark should make sure the CEOs are aware that Lorraine will be calling them. This will make sure that the CEOs are available to take the interviews. In addition, this will ensure that both sides are aware of the forthcoming correspondence, to make sure that nobody has been left in the dark.</span>
7 0
4 years ago
In a given year, Jennifer earns $50,000 and spends $40,000. During the same period, Stcve earns $30,000 and spends $27,000. If J
elena55 [62]

Answer:

The sales tax is regressive with respect to income

Explanation:

sales tax by Jennifer = 0.1*30000

                                   = 3000

tax/income = 3000/50000

                   = 6%

sales tax by steve = 0.1*27000

                                   = 2700

tax/income = 2700/30000

                   = 9%

The tax increases with decrease in income, it indeed is regressive on the whole.

Therefore, The sales tax is regressive with respect to income

6 0
3 years ago
Edward owns a tire company and has decided that it is time to expand into e-commerce.One of the important elements will be how h
saul85 [17]
<h2>e-commerce network is used to store customer satisfaction data.</h2>

Explanation:

E-commerce front-end technology:

Front-end technology is the interface where the user interacts. The customer is not aware of where the data is stored and what is the logic behind. Front-end cannot store anything.

e-commerce back-end technology:

Back-end technology can store the data. Normally it would be the database which stores all the inputs provided from the front end.

e-commerce networks:

This is the website which connects both front-end and back-end. This refers to the internet world. The business people can collect data from anywhere and store it in the database and view it.

e-commerce links:

e-commerce links is nothing but either it is adding its (website) own internal links or connecting the external website through the current web page.

4 0
3 years ago
Candlewood LLC started business on September 1, and it adopted a calendar tax year. During the year, Candlewood incurred $6,500
Harlamova29_29 [7]

Answer:

Organization expenses    $5,100

Startup expenses     $1,700

Explanation:

Calculation of organisation expenses and startup expenses

Particulars    Calculations     Amount

Actual expense                      $54,500

Reduced for startup upto         $50,000     $5,000

1. LLC may deduct    ($9,500 - $5,000)*4/180  $100

Organization expenses   ($5000 + $100)  $5,100

2. Deduction for startup   ($5,000 - $4,500)   $500

Write off during the year  $54,000*4/180   $1,200

Startup expenses          $1,700

NB: Startup expenses are all expenses incurred for the start-up of the business are known as the startup expense which is related to the existing expense of business and will be approved after the firm.

6 0
3 years ago
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