Bugs, inc., a wholly owned subsidiary of the u.s.-based company, pillows ltd., was notified of a loss contingency with an estimated cost ranging between $50,000 and $150,000. bugs, inc. hired an expert appraiser who assessed that all possible dollar amounts of liability in this range are equally likely. management of bugs, inc. has estimated that there is a 60 percent chance that this contingency will result in an actual loss. according to u.s. gaap, what is the amount recognized by bugs, inc. as a provision for loss contingency?
Solved
Show answers
More tips
- F Food and Cooking How to Make Napoleon Cake: A Step-by-Step Guide...
- H Health and Medicine How to Increase Hemoglobin in the Blood...
- F Food and Cooking How to Make Chebureki: A Delicious Recipe for Russian Street Food...
- S Style and Beauty Ultimate Guide on How to Care for Suede Shoes...
- T Travel and tourism How to Use a Compass: A Beginner s Guide...
- D Dating, Love, Relationships Does a Person s Character Depend on the Color of Their Eyes?...
- F Food and Cooking Is it Really Possible to Cook Tasty Colored Cauliflower?...
- H Health and Medicine Why do our Joints Crack?...
- H Health and Medicine These Food Additives Can Do Significant Harm to Your Health...
- F Food and Cooking How to Choose the Right Olive Oil: A Comprehensive Guide...
Answers on questions: Business
- B Business Macroeconomics is the branch of economic theory that deals with behavior and decision making by small units such as individuals and firms. question 13 options: true...
- M Mathematics You know the whole and one part you can blank to find the other part sum or subtract...
- B Business Martin, who owned a piece of property along with two other tenants, executed a will in which he left all his property to his son. When Martin died, his son received...
- E Engineering How is the biodiversity of an ecosystem measuring...
- M Mathematics This is my sister s work, please help. will give brainliest. DON T GIVE STUPID ANSWERS, I WILL REPORT...
Ответ:
The financial planning has roughly the same structure. Even in their later stages of life, they need to prepare and pre-save for any major risks that may occur. Having a spouse and children may increase this risk as well. It’s important to set aside a little future college money for their kids, maybe an allowance, ect. Their savings when it comes to risk management should also be increased. Having to not only prepare for accidents with themselves, they now also have to prepare for any accidents including their children and spouse. Saving money for assets is also important, going in debt would put the whole family in danger so making sure house/apartment payments, car payments, taxes, ect., is needed.