Morlan SA is preparing its December 31, 2022, financial statements. Two events that occurred between December 31,

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Morlan SA is preparing its December 31, 2022, financial statements. Two events that occurred between December 31, 2022, and March 10, 2023, when the statements were authorized for issue, are described below.

1. A liability, estimated at €160,000 at December 31, 2022, was settled on February 26, 2023, at €170,000.

2. A flood loss of €80,000 occurred on March 1, 2023.

What effect do these subsequent events have on 2022 net income?

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Intermediate Accounting IFRS

ISBN: 9781119607519

4th Edition

Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield

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Question Posted: Aug 05, 2021 12:53 AM

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Morlan SA is preparing its December 31, 2022, financial statements. Two events that occurred between December 31,

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A liability estimated at 160000 at December 31 2022 was settled on February 26 2023 at 1700...View the full answer

Intermediate Accounting IFRS

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