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galina1969 [7]
2 years ago
9

Hart Technology must accrue a loss contingency. The amount of the loss can be reasonably estimated within a range of outcomes. O

f these outcomes, no single amount within the range is a better estimate than any other amount, but the attorneys have determined that the most probable amount to be paid by Hart Technology would be the minimum amount. What amount of loss accrual should Hart recognize
Business
1 answer:
Shtirlitz [24]2 years ago
3 0

The amount of loss that should be recognized is the <u>minimum amount </u><u>of the </u><u>range. </u>

<u />

<h3>Recording a Contingent liability </h3>
  • It should only be recorded if the loss is probable and the amount to be incurred as liability can be reasonably estimated.
  • If neither of the above are possible, the loss would be recorded as a footnote.

US GAAP rules state however that if the loss is probable and the amount is in a range, the amount to be recorded as a contingent liability should be the minimum of the range.

In conclusion, they should recognize the minimum amount.

Find out more on contingent liabilities at brainly.com/question/17371330.

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Vaughn Manufacturing started business in 2012 by issuing 209000 shares of $21 par common stock for $28 each. In 2017, 25500 of t
marshall27 [118]

Answer:

A. $153,000

Explanation:

The Journal Entry is shown below:-

Property Dr,                                          $1,173,000

          To Treasure stock                     $1,020,000

           To additional paid-in-capital    $153,000

The computation is given below:-

For Property

= 25,500 × $46

= $1,173,000

For Treasure stock

= 25,500 × $40

= $1,020,000

For Additional paid-in-capital

= $1,173,000 - $1,020,000

= $153,000

6 0
3 years ago
Trapp Company reported net income of $110,000 for 2019 and paid dividends of $60,000 on November 1, 2019. Grape Company owns 15%
MArishka [77]

Answer:

$9,000

Explanation:

Given that,

Trapp Company reported,

Net income for 2019 = $110,000

Dividends paid on November 1, 2019 = $60,000

Grape Company owns 15% of the common stock of Trapp.

Using a fair-value method,

Therefore,

Income earned by Grape company is as follows:

= 15% of the total amount of dividend paid

= 0.15 × $60,000

= $9,000

6 0
3 years ago
What is the difference between reward management and compensation management
Genrish500 [490]

Answer:

Compensation management is the act of distributing some type of monetary value to an employee for their work by means of the company's policy or procedures. ... Reward management consists of analysing and controlling employee remuneration, compensation and all of the other benefits for the employees

8 0
3 years ago
Savings Goals
romanna [79]

Answer:

I am sorry fam this won't be an answer to your question, but I figured out how to see the answers on brainly for ya'll that don't have premium. You just need to right click on the page of your question and then click on "view page source" for me the shortcut is ctrl+ U. I don't know about yall's. when you do that it will open up a weird looking page then you want to scroll down, what you wanna focus on are the black letters, the others will be colored red or blue or whatever just focus on the black letters. It just gonna show you the answer and the comments too. Your welcome pudgy boi.

Explanation:

Sshheeeeeeshh

7 0
3 years ago
Profit = -5 x2^1 + 38X1 - 5X2^2 +44 X2 +520
cestrela7 [59]

Answer:

Explanation:

Attached is the solution

7 0
3 years ago
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