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
Lerok [7]
2 years ago
10

Reeves Co. filed suit against Higgins, Inc., seeking damages for copyright violations. Higgins' legal counsel believes it is pro

bable that Higgins will settle the lawsuit for an estimated amount in the range of $170,000 to $270,000, with all amounts in the range considered equally likely. How should Higgins report this litigation?
As a liability for $170,000 with disclosure of the range.

As a disclosure only. No liability is reported.

As a liability for $270,000 with disclosure of the range.

As a liability for $220,000 with disclosure of the range.

Business
1 answer:
gizmo_the_mogwai [7]2 years ago
8 0

Answer

The answer and procedures of the exercise are attached in the following archives.

Explanation  

You will find the procedures, formulas or necessary explanations in the archive attached below. If you have any question ask and I will aclare your doubts kindly.  

You might be interested in
Why do people try to avoid getting a refund on their tax returns?
ladessa [460]
D) Because they know the government has a large budget deficit
6 0
3 years ago
How does acting inspires people?
erik [133]

Answer: Film, television, and streaming services carry our images around the world. To be a part of positive, strong stories of love and loss.

Explanation:it keeps you from not losing hope

8 0
3 years ago
Mission Corp. borrowed $50,000 cash on April 1, 2019, and signed a one-year 12%, interest-bearing note payable. The interest and
VladimirAG [237]

Answer:

The amount of interest expense that Mission Corp. should record on March 31, 2020 is $1,500.

Explanation:

This can be calculated as follows:

Monthly interest expense = (Amount borrowed * Interest rate) / Number of months in a year = ($50,000 * 12%) / 12 = $500

Remaining number of months = Number of months from January 1, 2020 to March 31, 2020 = 3

Interest expense to record on March 31, 2020 = Monthly interest expense * Remaining number of months = $500 * 3 = $1,500

7 0
3 years ago
Sound Audio manufactures and sells audio equipment for automobiles. Engineers notified management in December 2013 of a circuit
Vlad [161]

Answer:

1) This is a loss contingency. a liability is accrued if it is both probable that the confirming event will occur and the amount can be at least reasonably estimated.

2) loss: 2,000,000

3) liability: 2,000,000

4) loss- product recall 2,000,000

liability- product recall 2,000,000

a disclosure note is appropriate

Explanation:

5 0
3 years ago
What does it mean to be a medium of exchange?
yawa3891 [41]
It means it is something that buyers will exchange with a seller when they want to purchase goods or services from the seller.
3 0
3 years ago
Other questions:
  • Suppose that productivity growth in an economy over a two-year period has fallen to less than 2% per year, causing a severe rece
    9·1 answer
  • Which of the following is an example of ethical behavior by an inspector? 
    8·1 answer
  • Before the investigators can determine whether a larceny-theft crime has been committed, they must
    15·1 answer
  • Zen began a new consulting firm on January 5. The accounting equation showed the following balances after each of the company’s
    13·1 answer
  • Fill in the blanks with the word(s) from the drop-down list that would best complete the passage. Free trade has not produced al
    13·1 answer
  • Eve's Apples opened for business on January 1, 2021, and paid for two insurance policies effective that date. The liability poli
    11·1 answer
  • Adina deposits $1,000 in the bank. The bank can then use her savings to make _____ to/for _____.
    6·2 answers
  • James worked for an automobile plant that has now closed, as the parts produced are no longer needed. Which type of unemployment
    11·1 answer
  • An investor is considering an investment that will pay $2,150 at the end of each year for the next 10 years. He expects to earn
    15·1 answer
  • What must be present (for the new employee) in this training experience?
    12·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!