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Question - Business Economic Loss (BEL) claims (as part of the MDL class settlement) were starting to deviate from expectations in the 4th quarter of 2012, and the deviation worsened in January 2013. BEL claims had already been provided for as part of the $7.8 billion liability as of 4th quarter 2011, but the provision was increasingly looking insufficient. What options did BP have as of 4th quarter 2012 with regards to the recognized liability? How could BP justify derecognizing a provision for BEL claims it had not extinguished?
A metal-polishing machine purchased by Mike Steel, Inc. should last 3 years. The purchase price was $36,300. Shipping costs were $363 and initial setup charges.
Rosel Company used the retail inventory method to approximate the ending inventory. What is the estimated cost of ending inventory
The new line would generate incremental sales of 1,000 units per year for 4 years, Estimate the required net operating working capital
Compare the measures used by the different companies for similar items. Are there any inconsistencies in how similar items are measured by the different company
The insurance company is offering a settlement of $450,000 to be paid in a lump sum 2 years from now, Calculate the value of the lump sum option
In 2015, Malawi Inc. exchanged equipment for two delivery trucks. Prepare the journal entry to record the exchange
What is market for inventory? What is cost for inventory? How do you arrive at market? How do you arrive at cost
From start to finish explain the revenue cycle starting with the customer placing an order through the customer receiving the goods.
Find How much is the total investment property? Building that is vacant but is held to be leased out under operating lease, P2,000,000
Prepare a schedule computing the net cash flow from operating activities that would be shown on a statement of cash flows
Assume units purchased on credit and Assume units sold on credit. Prepare all corresponding current year journal entries under the perpetual method
Each racket sells for $380. What is the net income for the month of May if the firm prepares the income statement using Full Absorption (FA)
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