Question
The following are subsequent events. For each event, indicate if the company should: A) adjust the financial statements. Write adj B) disclose in the notes
The following are subsequent events. For each event, indicate if the company should:
A) adjust the financial statements. Write adj
B) disclose in the notes to the financial statements. Write disc.
C) no adjustment or disclosure. Write N/A.
1. _______ Introduction of a new product line
2. _______ Loss of a significant customer
3. _______ Issuance of a significant number of common shares.
4. _______ Settlement of prior year litigation.
5. _______ Acquisition of a subsidiary of similar size.
6. _______ Loss of a factory due to fire
7. _______ Settlement of a federal tax case at a cost significantly higher than expected at year end
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