Question: Subsequent knowledge of which of the following would cause the

Subsequent knowledge of which of the following would cause the entity to adjust its December 31 financial statements?
a. Sale of an issue of new stock for $ 500,000 on January 30.
b. Settlement of a damage lawsuit for a customer’s injury sustained February 15 for $ 10,000.
c. Settlement of litigation in February for $ 100,000 that had been estimated at $ 12,000 in the December 31 financial statements.
d. Storm damage of $ 1 million to the entity’s buildings on March 1.


View Solution:


Sale on SolutionInn
Sales0
Views138
Comments
  • CreatedOctober 27, 2014
  • Files Included
Post your question
5000