Morlan SA is preparing its December 31, 2019, financial statements. Two events that occurred between December 31,
Question:
1. A liability, estimated at €160,000 at December 31, 2019, was settled on February 26, 2020, at €170,000.
2. A flood loss of €80,000 occurred on March 1, 2020.
What effect do these subsequent events have on 2019 net income?
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Related Book For
Intermediate Accounting IFRS
ISBN: 978-1119372936
3rd edition
Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield
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