Thanks

Same question 4-2. Choose from the pic who ha a clear caption. Thankyou I hope you can see it clearly. I provided 2 pictures if you can't see it clearly.

Bourne could lose P2,000,000 but that it is extremely Prepare journal entries that should be recorded as a result Problem 4-2 (IAA) Bourne Company provided the following selected transactions related to contingencies. The fiscal year enda on December 31, 2020 and financial statements are 168 Bourne is involved in a lawsuit resulting from a dispute with a customer over a 2020 transaction. On December 31, 2020, attorneys advised that it was probable that process of investigating the possibility of environmental On March 1, 2021, the provincial government is in the Management feels an essment is reasonably possible and if ansessment is made, Bettlement of up Probler Sunrise December on March 31, 2021 . A per again The m conclu will be best e Bourne would lose P3,000,000 in an unfavorable outcome Bourne in the amount fP4,000,000 plus interest P500,000 On February 15, 2021, judgment was rendered against Bourne does not plan to appeal the judgment. Since August 2020, Bourne has been involved in labor dispute. Negotiations between the entity and the union have not produced a settlement. Since January 2020, strikes have been ongoing at these facilities. t is virtually certain that material costs will be incurred but the amount of resultant costs cannot be adequately predicted. In Jul disput In Dec agains Sunri judgm: Bourne is the defendant in a lawsuit filed in January 2021 in which the plaintiff seeks P5,000,000 as an adjustment to the purchase price related to the sale of Bourne's hardwood division in 2020. The lawsuit alleges that Bourne misrepresented the division's assets and liabilities. unlikely it could lose the P5,000,000 asked for. The ta believe on app Sunris by PN Sunrise assessment. but By rea Sunrise 60% a penalty P4,000,000 is probable. Required: Required to Prepare 3 December contingencies Problem 4-2 (IAA) Bourne Company provided the following selected transactions related to contingencies. The fiscal year ende on December 31, 2020 and financial statements are issued Bourne is involved in a lawsuit resulting from a dispute with a customer over a 2020 transaction. On December violation by Bourne but has not proposed a penalty process of investigating the possibility of environmental and if ansessment is made, a settlement of up to Prepare journal entries that should be recorded as a result on March 31, 2021 31, 2020, attorneys advised that it was probable that Bourne would lose P3,000,000 in an unfavorable outcome On February 15, 2021, judgment was rendered against Bourne in the amount fP4,000,000 plus interest P500,000 Bourne does not plan to appeal the judgment. Since August 2020, Bourne has been involved in labor dispute. Negotiations between the entity and the union have not produced a settlement. Since January 2020, strikes have been ongoing at these facilities It is virtually certain that material costs will be incurred but the amount of resultant costs cannot be adequately predicted. Bourne is the defendant in a lawsuit filed in January 2021 in which the plaintiff seeks P5,000,000 as an adjustment to the purchase price related to the sale of Bourne's hardwood division in 2020. The lawsuit alleges that Bourne misrepresented the division's assets and liabilities, Legal counsel advised that it is reasonably possible that Bourne could lose P2,000,000 but that it is extremely unlikely it could lose the P5,000,000 asked for assessment P4,000,000 is probable Required: of the contingencies Bourne could lose P2,000,000 but that it is extremely violation by Bourne but has not proposed a penal Prepare journal entries that should be recorded as a result Problem 4-2 (IAA) on March 31, 2021 Bourne Company provided the following selected transactions related to contingencies. The fiscal year ends on December 31, 2020 and financial statements are 15 Bourne is involved in a lawsuit resulting from a dispute with a customer over a 2020 transaction. On December 31, 2020, attorneys advised that it was probable that process of investigating the possibility of environmental On March 1, 2021, the provincial government is in the Management feels an assessment is reasonably possible and if an .sessment is made, & settlement of up Bourne would lose P3,000,000 in an unfavorable outcome On February 15, 2021, judgment was rendered against Bourne in the amount fP4,000,000 plus interest P500,000, Bourne does not plan to appeal the judgment. Since August 2020, Bourne has been involved in labor dispute. Negotiations between the entity and the union have not produced a settlement. Since January 2020, strikes have been ongoing at these facilities. It is virtually certain that material costs will be incurred but the amount of resultant costs cannot be adequately predicted. Bourne is the defendant in a lawsuit filed in January 2021 in which the plaintiff seeks P5,000,000 as an adjustment to the purchase price related to the sale of Bourne's hardwood division in 2020. The lawsuit alleges that Bourne misrepresented the division's assets and liabilities. unlikely it could lose the P5,000,000 asked for. assessment. P4,000,000 is probable. Required: DO of the contingencies Bourne could lose P2,000,000 but that it is extremely Prepare journal entries that should be recorded as a result Problem 4-2 (IAA) Bourne Company provided the following selected transactions related to contingencies. The fiscal year enda on December 31, 2020 and financial statements are 168 Bourne is involved in a lawsuit resulting from a dispute with a customer over a 2020 transaction. On December 31, 2020, attorneys advised that it was probable that process of investigating the possibility of environmental On March 1, 2021, the provincial government is in the Management feels an essment is reasonably possible and if ansessment is made, Bettlement of up Probler Sunrise December on March 31, 2021 . A per again The m conclu will be best e Bourne would lose P3,000,000 in an unfavorable outcome Bourne in the amount fP4,000,000 plus interest P500,000 On February 15, 2021, judgment was rendered against Bourne does not plan to appeal the judgment. Since August 2020, Bourne has been involved in labor dispute. Negotiations between the entity and the union have not produced a settlement. Since January 2020, strikes have been ongoing at these facilities. t is virtually certain that material costs will be incurred but the amount of resultant costs cannot be adequately predicted. In Jul disput In Dec agains Sunri judgm: Bourne is the defendant in a lawsuit filed in January 2021 in which the plaintiff seeks P5,000,000 as an adjustment to the purchase price related to the sale of Bourne's hardwood division in 2020. The lawsuit alleges that Bourne misrepresented the division's assets and liabilities. unlikely it could lose the P5,000,000 asked for. The ta believe on app Sunris by PN Sunrise assessment. but By rea Sunrise 60% a penalty P4,000,000 is probable. Required: Required to Prepare 3 December contingencies Problem 4-2 (IAA) Bourne Company provided the following selected transactions related to contingencies. The fiscal year ende on December 31, 2020 and financial statements are issued Bourne is involved in a lawsuit resulting from a dispute with a customer over a 2020 transaction. On December violation by Bourne but has not proposed a penalty process of investigating the possibility of environmental and if ansessment is made, a settlement of up to Prepare journal entries that should be recorded as a result on March 31, 2021 31, 2020, attorneys advised that it was probable that Bourne would lose P3,000,000 in an unfavorable outcome On February 15, 2021, judgment was rendered against Bourne in the amount fP4,000,000 plus interest P500,000 Bourne does not plan to appeal the judgment. Since August 2020, Bourne has been involved in labor dispute. Negotiations between the entity and the union have not produced a settlement. Since January 2020, strikes have been ongoing at these facilities It is virtually certain that material costs will be incurred but the amount of resultant costs cannot be adequately predicted. Bourne is the defendant in a lawsuit filed in January 2021 in which the plaintiff seeks P5,000,000 as an adjustment to the purchase price related to the sale of Bourne's hardwood division in 2020. The lawsuit alleges that Bourne misrepresented the division's assets and liabilities, Legal counsel advised that it is reasonably possible that Bourne could lose P2,000,000 but that it is extremely unlikely it could lose the P5,000,000 asked for assessment P4,000,000 is probable Required: of the contingencies Bourne could lose P2,000,000 but that it is extremely violation by Bourne but has not proposed a penal Prepare journal entries that should be recorded as a result Problem 4-2 (IAA) on March 31, 2021 Bourne Company provided the following selected transactions related to contingencies. The fiscal year ends on December 31, 2020 and financial statements are 15 Bourne is involved in a lawsuit resulting from a dispute with a customer over a 2020 transaction. On December 31, 2020, attorneys advised that it was probable that process of investigating the possibility of environmental On March 1, 2021, the provincial government is in the Management feels an assessment is reasonably possible and if an .sessment is made, & settlement of up Bourne would lose P3,000,000 in an unfavorable outcome On February 15, 2021, judgment was rendered against Bourne in the amount fP4,000,000 plus interest P500,000, Bourne does not plan to appeal the judgment. Since August 2020, Bourne has been involved in labor dispute. Negotiations between the entity and the union have not produced a settlement. Since January 2020, strikes have been ongoing at these facilities. It is virtually certain that material costs will be incurred but the amount of resultant costs cannot be adequately predicted. Bourne is the defendant in a lawsuit filed in January 2021 in which the plaintiff seeks P5,000,000 as an adjustment to the purchase price related to the sale of Bourne's hardwood division in 2020. The lawsuit alleges that Bourne misrepresented the division's assets and liabilities. unlikely it could lose the P5,000,000 asked for. assessment. P4,000,000 is probable. Required: DO of the contingencies