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How much is the loss to be recognized for abc company

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Reference no: EM132943705

ABC Company is a defendant in a lawsuit filed by the plaintiff in November of 2020 The entity' s legal counsel expected that there is a 70% probability that the entity will pay damages of Php400,000 In 2021. the entity revised its estimate that the damages range from Dho400,000 to Php500,000

Problem 1: How much is the loss to be recognized in 2021?

Option 1: 170,000.00
Option 2: 50,000.00
Option 3: 450,000.00
Option 4: 400,000.00
Option 5: None of the choices

Reference no: EM132943705

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