Ask Question, Ask an Expert

+1-415-315-9853

info@mywordsolution.com

Ask Basic Finance Expert

For each of the following subsequent [post-balance-sheet] events, indicate whether a company should [a] adjust the financial statements, [b] disclose in notes to the financial statements, or [c] neither adjust nor disclose.

  A. Retirement of the company president.

  B. Prolonged employee strike.

  C. Loss of a significant customer.

  D. Issuance of a significant number of shares of common stock.

  E. Material loss on a year-end receivable because of a customer’s bankruptcy.

  F. Hiring of a new president.

  G. Settlement of prior year’s litigation against the company.

  H. Merger with another company of comparable size.

  I. Settlement of federal tax case at a cost considerably in excess of the amount expected at year-end.

  J. Introduction of a new product line.

  K. Loss of assembly plant due to fire.

  L. Sale of a significant portion of the company’s assets.

Basic Finance, Finance

  • Category:- Basic Finance
  • Reference No.:- M916021

Have any Question? 


Related Questions in Basic Finance

Company a has inventory equal to 100000 with a current

Company A has inventory equal to $100,000 with a current ratio of 2.3 and quick ratio of 1.8, what is the level of the firms current liabilities?

The following is from a business report by the reuters news

The following is from a business report by the Reuters news agency: "Online retailer Overstock.com . . . posted a surprise quarterly profit and its shares jumped as much as 34 percent to their highest level in almost two ...

The following excerpt if from the notes to the financial

The following excerpt if from the notes to the financial statements in the 2009 Annual Report of Bank of America (p. 147): The Corporation enters into trading derivatives to facilitate client transactions for proprietary ...

1 is it more desirable to have the operating ratios

1. Is it more desirable to have the operating ratios increasing or decreasing for utilities and transportation companies? 2. What type of ratio is operating revenue to operating property? Will it exceed 1:1 for a utility ...

Part a answer each of the following questions in a

Part A: Answer each of the following questions in a composition of one to two paragraphs, or perform calculations as requested. 1. Define liquidity risk, default risk and taxability risk, and explain how these risks rela ...

J smythe inc manufactures fine furniture the company is

J. Smythe, Inc., manufactures fine furniture. The company is deciding whether to introduce a new mahogany dining room table set. The set will sell for $6,800, including a set of eight chairs. The company feels that sales ...

Vary emphasis in a memoassume that you have evaluated two

Vary emphasis in a memo. Assume that you have evaluated two candidates for the position of sales assistant. This is what you have learned: • Carl Barteolli has more sales experience. • Elizabeth Larson has more appropria ...

1 what are the responsibilities and typical payoff for a

1. What are the responsibilities and typical payoff for a general partner in a venture capital limited partnership? 2. Distinguish between positive covenants and negative covenants in venture capital investment contracts ...

1 why are scientists skeptical of post hoc explanations2

1. Why are scientists skeptical of post hoc explanations? 2. Why are operational definitions important in research?

1 how can partial correlation help researchers explore

1. How can partial correlation help researchers explore possible causal relationships among correlated variables? 2. When is the Spearman rank-order correlation used? 3. What is a dichotomous variable? What correlations ...

  • 4,153,160 Questions Asked
  • 13,132 Experts
  • 2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

WalMart Identification of theory and critical discussion

Drawing on the prescribed text and/or relevant academic literature, produce a paper which discusses the nature of group

Section onea in an atwood machine suppose two objects of

SECTION ONE (a) In an Atwood Machine, suppose two objects of unequal mass are hung vertically over a frictionless

Part 1you work in hr for a company that operates a factory

Part 1: You work in HR for a company that operates a factory manufacturing fiberglass. There are several hundred empl

Details on advanced accounting paperthis paper is intended

DETAILS ON ADVANCED ACCOUNTING PAPER This paper is intended for students to apply the theoretical knowledge around ac

Create a provider database and related reports and queries

Create a provider database and related reports and queries to capture contact information for potential PC component pro