subject
Business, 15.07.2019 22:30 nevelle

Zeta, ltd., a company that prepares its financial statements in accordance with ifrs, has the following pending items at december 31, 2018. the company is the defendant in a product liability lawsuit as a result of injuries incurred by purchasers of its products. legal counsel has indicated that an unfavorable verdict in the amount of $650,000 is probable. the company is involved in another lawsuit and their legal counsel believes it is reasonably possible that the lawsuit will result in a loss of $175,000. the entity sells a product that is subject to a warranty. the estimated warranty liability is $150,000. in its financial statements for the period ended december 31, 2018, how much will be reported either on the balance sheet or in the footnotes for contingencies and how much for provisions?

ansver
Answers: 1

Another question on Business

question
Business, 22.06.2019 07:30
Net income and owner's equity for four businesses four different proprietorships, jupiter, mars, saturn, and venus, show the same balance sheet data at the beginning and end of a year. these data, exclusive of the amount of owner's equity, are summarized as follows: total assets total liabilities beginning of the year $550,000 $215,000 end of the year 844,000 320,000 on the basis of the preceding data and the following additional information for the year, determine the net income (or loss) of each company for the year. (hint: first determine the amount of increase or decrease in owner's equity during the year.) jupiter: the owner had made no additional investments in the business and had made no withdrawals from the business. mars: the owner had made no additional investments in the business but had withdrawn $36,000. saturn: the owner had made an additional investment of $60,000 but had made no withdrawals. venus: the owner had made an additional investment of $60,000 and had withdrawn $36,000. jupiter net income $ mars net income $ saturn net income $ venus net income $
Answers: 3
question
Business, 22.06.2019 11:00
Why are the four primary service outputs of spatial convenience, lot size, waiting time, and product variety important to logistics management? provide examples of competing firms that differ in the level of each service output provided to customers?
Answers: 1
question
Business, 22.06.2019 13:40
Determine if the following statements are true or false. an increase in government spending can crowd out private investment. an improvement in the budget balance increases the demand for financial capital. an increase in private consumption may crowd out private investment. lower interest rates can lead to private investment being crowded out. a trade balance in sur+ increases the supply of financial capital. if private savings is equal to private investment, then there is neither a budget sur+ nor a budget deficit.
Answers: 1
question
Business, 22.06.2019 14:10
When a shortage or a surplus arises in the loanable funds market a. the supply of loanable funds changes to return the economy to its original real interest rate b. the nominal interest rate is pulled to the new equilibrium level c. the demand for loanable funds changes to return the economy to its original real interest rate d. the real interest rate is pulled to the new equilibrium level
Answers: 3
You know the right answer?
Zeta, ltd., a company that prepares its financial statements in accordance with ifrs, has the follow...
Questions
question
Mathematics, 09.02.2021 05:30
question
Arts, 09.02.2021 05:30
question
Mathematics, 09.02.2021 05:30
question
Mathematics, 09.02.2021 05:30
question
Mathematics, 09.02.2021 05:40