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Indicate how each of the following subsequent events would be reported. Choices: Probably adjust the financial statements directly, Disclosure, Neither adjustment nor disclosure necessary (a)
Indicate how each of the following subsequent events would be reported. Choices: Probably adjust the financial statements directly, Disclosure, Neither adjustment nor disclosure necessary (a) Collection of a note written off in a prior period. (b) Issuance of a large preferred stock offering. (c) Acquisition of a company in a different industry. (d) Destruction of a major plant in a flood. (e) Death of the companys chief executive officer (CEO). (f) Additional wage costs associated with settlement of a four-week strike. (g) Settlement of a federal income tax case at considerably more tax than anticipated at year-end. (h) Change in the product mix from consumer goods to industrial goods.
Indicate how each of the following subsequent events would be reported.
Choices: Probably adjust the financial statements directly, Disclosure, Neither adjustment nor disclosure necessary
(a) Collection of a note written off in a prior period.
(b) Issuance of a large preferred stock offering.
(c) Acquisition of a company in a different industry.
(d) Destruction of a major plant in a flood.
(e) Death of the companys chief executive officer (CEO).
(f) Additional wage costs associated with settlement of a four-week strike.
(g) Settlement of a federal income tax case at considerably more tax than anticipated at year-end.
(h) Change in the product mix from consumer goods to industrial goods.
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