The answer is the ADA or also known as the Americans with
Disabilities Act of 1990, where in their main focus is the people who are
disabled in means of having them to be provided with benefits in order to accommodate
their physical limitation as a way of helping them.
Answer:
1. No journal entry required
2. No journal entry required
3 Dr Loss $470,000
Cr Contingent liability $470,000
Explanation:
Preparation of the journal entry to Record any amounts as a result of each of these contingencies
1. Based on the information given we were told that The likelihood of the payment is reasonably possible which means that contingent liability amount was not recognized and therefore NO JOURNAL ENTRY IS REQUIRED
No journal entry required
2. Based on the information given we were told that Environmental Printing was expecting to win the case and be awarded the cash amount involved which means NO JOURNAL ENTRY IS REQUIRED reason been the CONTINGENT GAIN will not be recognized until the amount is received.
No journal entry required
3. Contingent liability was recorded because the payment is reasonably possible and Estimated.
Dr Loss $470,000
Cr Contingent liability $470,000
<span>an MP3 player for $35.99 and a $20.00 gift card for downloading music
& three books of $16.99 each
It is because, Total money which he has to pay = 35.99 - 20.00 = 15.99
which is less than 55.00
In short, Your Answer would be Option C
Hope this helps!</span>
Because people are desperate lol
