More concerned about 16. A & B but if you could look over 19 please it should be easy.

will probably create employer liabilities. 16. The following selected transactions relate to contingencies of Jones Inc. Jones fiscal year ends on December 31, 2014, and financial in March 2015. statements are published a. Jones is involved in a lawsuit resulting from a dispute with a Robert, a customer, over a 2014 $3 on. At December 31, 2014 attorneys advised that it was probable that Jones would lose million in an unfavorable outcome. On February 12, 2015, judgment was rendered against Jones, and in favor of Robert, for a whopping si4 million. Jones does not plan to appeal the judgment. Should a liability be recorded on the December 31, 2014 balance sheet? If so, how much should be reported when the 2014 financial statements are published in March 2015? m loss b. Jones the defendant in another lawsuit filed in April 2014 in which Smith Company seeks $10 million as an adjustment to the purchase price related to the sale of Jones 2014. lawsuit Jones resented the division's assets and liabilities. Legal counsel advises it is reasonably possible that Jones could lose million, but that it's extremely unlikely it could lose the $10 million asked for. Should a liability be recorded, and if so, how much? Whether or not any liability is recorded, is any disclosure note required? 19. If your company is short of cash, is it an acceptable p to manage cash flow delaying the of taxes, previously withheld from employees for federal taxes until beyond the tax due date? Yes or no. Why