Business, 30.03.2021 18:00 Mordred4987

Panama Shirt Designs is a defendant in litigation involving an employee accident in its manufacturing plant. For each of the following scenarios, determine the appropriate way to report the situation and record any necessary entry. a. The likelihood of a loss occurring is probable and the estimated loss is $700,000.
b. The likelihood of a loss occurring is probable and the loss is estimated to be in the range of $450,000 to $900,000.
c. The likelihood of a loss occurring is reasonably possible and the estimated loss is $700,000.
d. The likelihood of a loss occurring is remote, while the estimated potential loss is $700,000.

Answers: 3

Show answers

Other questions on the subject: Business

Business, 21.06.2019 19:30, gymnastattack

Which of the following correctly describes the accounting for indirect labor costs? indirect labor costs are product costs and are expensed as incurred. indirect labor costs are period costs and are expensed when the manufactured product is sold. indirect labor costs are period costs and are expensed as incurred. indirect labor costs are product costs and are expensed when the manufactured product is sold.

Answers: 3

continue

Business, 21.06.2019 19:30, mahagonylabeyta

Which of the following is an example of the use of fiscal policy by the u. s. government? a. congress makes it illegal for the police union to go on strike. b. the federal reserve bank lowers the interest rate on loans to corporations. c. the department of transportation increases spending on highway repairs. d. the supreme court rules that unions have the right to collective bargaining. 2b2t

Answers: 1

continue

Business, 22.06.2019 11:50, ayoismeisalex

Select the correct answer. ramon applied to the state university in the city where he lives, but he was denied admission. what should he do now? a. change his mind about graduating and drop out of high school so he can start working right away. b. decide not to go to college, because he didn’t have a backup plan. c. stay positive and write a mean letter to let the college know that they made a bad decision. d. learn from this opportunity, reevaluate his options, and apply to his second and third choices.

Answers: 2

continue

Business, 22.06.2019 14:10, gia2038

Carey company is borrowing $225,000 for one year at 9.5 percent from second intrastate bank. the bank requires a 15 percent compensating balance. the principal refers to funds the firm can effectively utilize (amount borrowed − compensating balance). a. what is the effective rate of interest? (use a 360-day year. input your answer as a percent rounded to 2 decimal places.) b. what would the effective rate be if carey were required to make 12 equal monthly payments to retire the loan?

Answers: 1

continue

You know the right answer?

Panama Shirt Designs is a defendant in litigation involving an employee accident in its manufacturin...