Answer:
contingent liabilities are journalized when they are both probable and estimable.
EPA's fine, states it is probable it will stand.
Damage awards and fines DR $248,000
Contingent Liability-fines CR $248,000
Out of court settlement for $130,000. Although since the settlement was just reached, we would just use a payable account.
Damage awards and finesDR $130,000
Awards payable CR $130,000
The homeowner lawsuit is not thought to be a strong case, plus the amount of any actual damages is unforeseeable, therefore a journal entry would not normally be needed at all. Although those would still be disclosed to shareholders on financial statements.
Answer:
$77,500
Explanation:
The computation of the annual opportunity cost of earning his mba is shown below:
= Cost of the job + cost of other expenses + the interest earned per year
= $45,000 + $22,000 + $500
= $77,500
In order to determine we added the cost of the job, cost of other expenses, and the interest earned per year so that the annual opportunity cost could arrive
Hello,
The sensitivity of consumers to price changes is measured by the <span>price elasticity of demand
Hope this helps
~HotTwizzlers</span>
does it give choices
if not I think it is annual fee
