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Mapplebeck Company Ltd . is gathering evidence to support an accrual for legal claims. Three lawsuits are outstanding: Claim 1 is a lawsuit from an
Mapplebeck Company Ltd is gathering evidence to support an accrual for legal claims. Three lawsuits are outstanding:
Claim is a lawsuit from an employee for $ According to the legal team, there is a chance that it will have to be paid in full and a chance that it will be dismissed.
Claim is a lawsuit from a supplier for $ for breach of contract. According to the legal team, there is a chance that it will have to be paid out in full and a chance that it will be dismissed.
Claim is a lawsuit from a customer for $ According to the legal team, there is only a chance that it will be dismissed in court. Accordingly, the company has made a settlement offer of $ to the plaintiff, but the plaintiff has not yet responded to the settlement offer. The legal team believes there is a chance the settlement will be accepted. If it is not accepted, the action will go to court, with a chance of dismissal and a chance of an $ payout.
Required:
For each case, indicate the amount that should be recorded as a liability for the lawsuit. Assume that the payment period is relatively short so that discounting is not needed. Leave no cell blank. Be certain to enter wherever required.
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