Answer:
1. The likelihood of a payment occurring is probable, and the estimated amount is $1.14 million.
- Dr Law suit loss 1,140,000
- Cr Law suit liability 1,140,000
2. The likelihood of a payment occurring is probable, and the amount is estimated to be in the range of $0.94 to $1.14 million.
- Dr Law suit loss 940,000
- Cr Law suit liability 940,000
US GAAP allows companies to record probable losses at lowest estimated value.
3. The likelihood of a payment occurring is reasonably possible, and the estimated amount is $1.14 million.
- no journal entry is required, only a disclosure in the footnotes of the financial statements.
A contingent liability (or loss) that is only possible, but not probable, does not need to be journalized and recorded. It only needs to be disclosed in the footnotes of the financial statements.
4. The likelihood of a payment occurring is remote, while the estimated potential amount is $1.14 million.
- no journal entry is required
A contingent liability (or loss) that is remote, does not need to be journalized or recorded, nor included in the footnotes of the financial statements.
They can be prevented by using of small collection tube, allowing stable patients to carry out the laboratory test and sharing of specimen in the laboratory
<h3>What is iatrogenic anemia? </h3>
This is a condition of lowered hematocrit and hemoglobin count resulting from<u> frequent removal of blood samples</u> needed for testing purpose in the laboratory.
They can be prevented by carrying out the following:
- The use of small collection tubes
- Stable patients should only be allowed to carry out the laboratory test
- Sharing of specimen in the laboratory
Learn more on iatrogenic anemia here: brainly.com/question/8197071
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Answer:
solomon is supposed to continue production at Division B because of the increase in the production volume and sales volume that has increased.
Explanation:
Solomon should take the risk of continuing in the business for like a certian period so that he can be able to asses the production fully before making a decision of probably Subleasing the facility.
Sublease: this is the act of leasing a property by a tenant to a subtenant
Answer:
Insured.
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<span>In the context of information technology in workplaces,
clerical workers using computers for word-processing tasks is an example of job
upgrading. Clerical workers usually have routine work in the office which
involves administrative tasks or documentation. The use of computers helps them
perform these tasks. </span>
