Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Contingent liabilities Several months ago, Reiltz Industries, Inc. experienced a hazardous materials spill at one of its plants. As a result, the Enviromental Protection agency fined the company $570,000. The company is contesting the fine. In addition, an employee is seeking $560,000 in damages related to spill. Lastly, a homeowner has sued the company for $364,000. The homeowner lives 35 miles from the plant, but believes that the incident has reduced the home's resale value by $364,000. Reiltz's legal counsel believes that it is probable that EPA fine will stand. In addition, counsel indicates that an out-of-court settlement of $238,000 has recently been reached with the employee. The final papers will be signed next week. Counsel believes that the homeowner's case is much weaker and will be decided in favor of Reiltz. Other litigation related to the spill is possible, but the damage amounts are uncertain. a. Journalize the contingent liabilities associated with the hazardous materials spill. Use the account "Damage Awards and Fines" to recognize the expense for the period. b. Prepare a note disclosure relating to this incident.
given the following information for jane cole complete schedule d of form 1040 through part iii. stock options which
a diamond contains 4.0 1021 atoms of carbon. what amount of carbon are in this diamond? mol what mass grams of carbon
the thomas supply company inc. is a distributor of gas-powered generators. as with any business the length of time
1. examples of intangible assets includea. technological managerial and marketing know-how.b. superior rampd
guitar universe inc. is a popular source of musical instruments for professional and amateur musicians the companys
Which of the following is an example of a variable cost?
How might the senior audit manager or partner on a particular engagement determine how much cost is acceptable to incur in order to test a particular area? Can you think of any lower cost alternatives?
Prepare the adjusting entry for December 31 st to reflect the amount of rent expense consumed. What is balance in prepaid rent on December 31 st after the adjusting entry has been made?
If Lampley Company decides to re-work the items, how much should the company be willing to invest to ensure that they would at least break even on the sale of the items?
determine how much money would be in a savings account that started with a deposit of 2000 in year 1 with each
Debt guarantees are: a) are considered to be a contingent liability. b) are never disclosed in the financial statement c) are a bad business practice. d) are recorded as a liability even though it is highly unlikely that the original debtor will defa..
A company provides services on account during the current year totaling $400,000. By the end of the year, $350,000 of this amount had been received on account from customers for services provided in the prior years. Determine the amount of operati..
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd