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Problem: Macromedia, Inc., is the original maker of shockwave and flash technologies. One of its annual reports indicated a lawsuit had been filed against the company and five of its former officers for securities fraud in connection with allegedly making false or misleading statements about its financial results. The lawsuit was settled out of court, as described in the following note:
Legal
The settlement amount was $48.0 million, of which approximately $19.5 million was paid by insurance. As a result, the Company recorded a $28.5 million charge as a component of other income (expense) in its consolidated statements of operations.
Required: Macromedia did not record a liability or include a note to the financial statements prior to settling the lawsuit. Which of the following best describes the estimated likelihood of loss prior to settling the lawsuit: (a) probable, (b) reasonably possible, or (c) remote? Please answer the question by provide detail calculation process.
Stockholders equity section of balance sheet - List the errors in the following Stockholders' Equity section of the balance sheet prepared as of the end of the current year.
What is Blue’s charitable contributions deduction for the current year? What is Blue’s charitable contribution carryback or carryover (if any)? In what years can it be used?
HOLMES INSTITUTE, Australia - HI5020 Corporate Accounting Assignment - Qualifications and experiences that employers seek from Corporate Accountants
On March 1, 2021, Landon Company acquired real estate on which it planned to construct a small office building. The company paid $90,000 in cash.
will Levi's salary be in five years if he gets a 5 percent raise each year and what would his salary be in five years if the annual raise is 9 percent?
Martinez company's relevant range of production is 8,900 units to 13,900 units when it produces and sells 11,400 units its unit cost are as follows: direct material 6.70 Direct labor 4.20 variable manufacturing overhead 1.40 fix manufacturing overhea..
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In Year 0, Company L paid $80,000 for an overhaul of a tangible operating asset. Company L has a 34 percent marginal tax rate and uses an 8 percent discount rate to compute net present value.
To help you with several budgets, you will need sales in UNITS (not total dollars as listed above). You can calculate the number of sales units by taking the total sales / sales price per unit.
Additional facts are available for preparing adjustments on March 31 prior to financial statement preparation - the March 31 amount of computer supplies still available totals $2,015 and three more months have expired since the company purchased its..
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