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Point 1: In 2010 BP initiated a lawsuit against Anadarko Petroleum - its partner with a 25% stake in the Macondo well - accusing the company of gross negligence. BP sued for 25% of BP's costs associated with the incident.
Question 1: In 2011, the litigation was settled for $4 billion. How did this affect the financial statements (show the appropriate journal entry)?
Larkspur, Inc. reports the following for the month of June. Date Explanation Units Unit Cost Total Cost June 1 Inventory 117 $5 $ 585 12 Purchases 378 6 2,268 23 Purchases 217 7 1,519 30 Inventory 236 Calculate weighted-average unit cost. (Round answ..
What is the mortgage balance after 10 years on a 30-year loan at 5.0% with the original loan at $200,000 and monthly payments assumed?
Selected year-end financial statements of Cabot Corporation follow. (All sales were on credit; selected balance sheet amounts at December 31, 2012, were inventory, $55,900; total assets, $199,400; Compute the following: current ratio, acid-test rati..
Discuss a three stage process for evaluating information technology investment. Describe the three stages in process and activities performed in each stage. Discuss the advantages and disadvantages of this model
Film Animation Ltd wishes to expand and has £800,000 to invest.- Which project should the management choose, and why?
A U.S. government bond with a face amount of $10,000 with 8 years to maturity is yielding 3.5%. What is the current selling price?
What is the effect of each of the following on Pink Corporation? Which option should be selected? Please explain your answers.
Cramer Company sold five-year, 8% bonds on October 1, 2016. The face amount of the bonds was $100,000, while the issue price was $102,000. Interest is payable on April 1 of each year. The fiscal year of Cramer Company ends on December 31. How much in..
You will write an 800 word essay in current APA format that focuses on how biblical concepts are related to the fields of accounting and finance.
Show the effects of the advance payment and revenue recognition on the 2009 financial statements using a horizontal statements model.
Marge Dean are married and have always lived in a community property state. Ted (age 92) suffers from numerous disorders and is frequently ill, while Marge (age 70) is in good health. The Deans currently need $500,000 to meet living expenses, make de..
calculate the weighted average of common shares outstanding for 2013.
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