Miss Natalia

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About Miss Natalia

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Teaching Since: Apr 2017
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Education

  • Doctor of Education in Educational Leadership with a Specialization in Educational Technology
    Phoniex University
    Oct-1999 - Nov-2005

Experience

  • HR Executive
    a21, Inc.
    Nov-1998 - Dec-2005

Category > Accounting Posted 30 Jun 2017 My Price 10.00

Discuss fully the accounting treatment and disclosures that should be accorded the casualty and related contingent losses in the financial statements

On February 1, 2016, one of the huge storage tanks of Viking Manufacturing Company exploded.

Windows in houses and other buildings within a one-mile radius of the explosion were severely damaged, and a number of people were injured. As of February 15, 2016 (when the December 31, 2015, financial statements were completed and sent to the publisher for printing and public distribution), no suits had been filed or claims asserted against the company as a consequence of the explosion. The company fully anticipates that suits will be filed and claims asserted for injuries and damages. Because the casualty was uninsured and the company considered at fault, Viking Manufacturing will have to cover the damages from its own resources.

Instructions

Discuss fully the accounting treatment and disclosures that should be accorded the casualty and related contingent losses in the financial statements dated December 31, 2015.

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Miss Natalia
(14)
Status NEW Posted 30 Jun 2017 07:06 AM My Price 10.00

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