subject
Business, 18.12.2019 23:31 12345678954

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 the 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 the recall would cost $800,000part 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.

ansver
Answers: 1

Another question on Business

question
Business, 21.06.2019 21:30
Which of these things did galileo not do? a. stop publishing his scientific work after being convicted of heresy b. invent the concept of acceleration c. experiment with rolling balls down ramps of increasing steepness to test how objects would fall d. argue that earth moves around the sun e. make up a thought experiment that indicated that objects would fall at the same rate
Answers: 3
question
Business, 22.06.2019 19:00
When making broccoli cream soup, the broccoli and aromatics should be a. burned. b. simmered. c. puréed. d. sweated.
Answers: 2
question
Business, 22.06.2019 20:00
Harry is 25 years old with a 1.55 rating factor for his auto insurance. if his annual base premium is $1,012, what is his total premium? $1,568.60 $2,530 $1,582.55 $1,842.25
Answers: 1
question
Business, 22.06.2019 23:20
Assume a competitive firm faces a market price of $60, a cost curve of c = 0.003q^3 + 25q + 750, and a marginal cost of curve of: mc = 0.009q^2 + 25.the firm's profit maximizing output level (to the nearest tenth) is , and the profit (to the nearest penny) at this output level is $ will cause the market supply to (shift right/shift left). this will continue until the price is equal to the minimum average cost of $
Answers: 2
You know the right answer?
Gomez corporation, a manufacturer of household paints, is preparing annual financial statements at d...
Questions
question
Mathematics, 31.03.2021 18:00
question
Social Studies, 31.03.2021 18:00
question
Mathematics, 31.03.2021 18:00
Questions on the website: 13722367