On November 24, 2020, 26 passengers on Windsor Airlines Flight No. 901 were injured upon landing when the plane skidded off the runway. Personal injury suits for damages totaling $9,000,000 were filed on January 11, 2021, against the airline by 18 injured passengers. The airline carries no insurance. Legal counsel has studied each suit and advised Windsor that it is probable that it will pay 60% of the damages claimed. The financial statements for the year ended December 31, 2020, were issued February 27, 2021.Instructions:a. Prepare any disclosures and journal entries required by the airline in preparation of the December 31, 2020, financial statements. b. Ignoring the November 24, 2020, accident, what liability due to the risk of loss from lack of insurance coverage should Windsor Airlines record or disclose? During the past decade, the company has experienced at least one accident per year and incurred average damages of $3,200,000. Discuss fully.

The cutting department of cassel company has the following production and cost data for july. production costs 1. transferred out 12,300 units. beginning work in process $0 2. started 3,900 units that are 60% materials 62,856 complete as to conversion labor 12,622 costs and 100% complete as manufacturing overhead 23,100 to materials at july 31. materials are entered at the beginning of the process. conversion costs are incurred uniformly during the process. determine the equivalent units of production for (1) materials and (2) conversion costs. materials conversion costs total equivalent units of production link to text link to text compute unit costs. (round unit costs to 2 decimal places, e.g. 2.25.) materials $ conversion costs $ link to text link to text prepare a cost reconciliation schedule. (round unit costs to 2 decimal places, e.g. 2.25 and final answers to 0 decimal places, e.g. 1,225.) cost reconciliation costs accounted for transferred out $ work in process, july 31 materials $ conversion costs total costs $

Answer the following questions using the banker’s algorithm: a. illustrate that the system is in a safe state by demonstrating an order in which the processes may complete. b. if a request from process p1 arrives for (1, 1, 0, 0), can the request be granted immediately? c. if a request from process p

Which of the following statements are false regarding activity-based costing? non-manufacturing costs are important to include when calculating the cost of each product. costs are allocated based on a pre-determined overhead rate. transitioning from traditional costing methods to activity-based costing can be complicated and costly. activity-based costing follows the same basic calculation methods as traditional costing approaches. none of the above