Gomez corporation, a manufacturer of household paints, is preparing annual financial statements at december 31, 2011. because of a recently proven health hazard in one of its paints, the government has clearly indicated its intention of having gomez recall all cans of this paint sold in the last six months. the management of gomez estimates that this recall would cost $900,000.part a - what accounting recognition, if any, should be accorded this situation? part b - how would your answer change to part a if 70% of the paint cans were sold before 12/31/2011 and the remainder were sold after 12/31/2011 but before the financial statements were issued on 3/5/2012? part c - how would your answer change to part a if the health hazard was only alleged (but not yet probable) when the 2011 financial statements were published.

Andrea cujoli is a currency speculator who enjoys "betting" on changes in the foreign currency exchange market. currently the spot price for the japanese yen is ¥129.87/$ and the 6-month forward rate is ¥128.53/$. andrea would earn a higher rate of return by buying yen and a forward contract than if she had invested her money in 6-month us treasury securities at an annual rate of 2.50%. true/false?

Bmw receives data transmitted by each new vehicle it sells to employees understand how customers use the products and when service may be needed. this use of technology aids in bmw's efforts to interact in an ongoing basis with its customers.

Ultravision inc. anticipates sales of $280,000 from january through april. materials will represent 50 percent of sales, and because of level production, material purchases will be equal for each month during the four months of january, february, march, and april. materials are paid for one month after the month purchased. materials purchased in december of last year were $24,000 (half of $48,000 in sales). labor costs for each of the four months are slightly different due to a provision in the labor contract in which bonuses are paid in february and april. the labor figures are: january $14,000 february 17,000 march 14,000 april 19,000 fixed overhead is $10,000 per month. prepare a schedule of cash payments for january through april. (assume the $280,000 of sales occur equally over the four months of january through april, i.e. monthly sales = $280,000 / 4.)