Solution-Prepare a note disclosure relating to incident

Prepare a note disclosure relating to incident

Assignment Help Cost Accounting

Reference no: EM13549012

Several months ago, Welker Chemical Company experienced a hazardous materials spill at one of its plants. As a result, the Environmental Protection Agency (EPA) fined the company $410,000. The company is contesting the fine. In addition, an employee is seeking $400,000 damages related to the spill. Lastly, a homeowner has sued the company for $260,000. The homeowner lives 30 miles from the plant, but believes that the incident has reduced the home's resale value by $260,000.

Welker's legal counsel believes that it is probable that the EPA fine will stand. In addition, counsel indicates that an out-of-court settlement of $170,000 has recently been reached with the employee. The final papers will be signed next week. Counsel believes that the homeowner's case is much weaker and will be decided in favor of Welker. Other litigation related to the spill is possible, but the damage amounts are uncertain.

(b) Prepare a note disclosure relating to this incident.

Reference no: EM13549012

Questions Cloud

What were the firms net incomes and cash flows : What were the firms net incomes and cash flows from operations, and cash flow from assets - Would you expect the change in income and cash flows from the change in depreciation

Determine the de broglie wavelength of the neutrino : Suppose a neutrino is created and has an energy of 49.0 MeV. (a) Assuming the neutrino, like the photon, has no mass and travels at the speed of light, find the momentum of the neutrino. (b) Determine the de Broglie wavelength of the neutrino.

Obtain what is the tension in the support cable : A sign weighing 498 N is suspended at the end of a uniform rod 4.04 m long weighing 663 N as shown below. What is the tension in the support cable

To strengthen his arm and chest muscles : To strengthen his arm and chest muscles, an 75.0 kg athlete 2.00 m tall is doing a series of push-ups as shown in the figure below . His center of mass is 1.20 m from the bottom of his feet, and the centers of his palms are 30.0 cm from the top of..

Prepare a note disclosure relating to incident : Counsel believes that the homeowner's case is much weaker and will be decided in favor of Welker - Prepare a note disclosure relating to this incident.

What is the distance between the two second-order minima : A screen is placed 1.84 m behind a single slit. The central maximum in the resulting diffraction pattern on the screen is 2.70 cm wide; that is, the two first-order diffraction minima are separated by 2.70 cm. What is the distance between the two sec..

Magnitude of the gravitational acceleration on this planet : After landing on an unfamiliar planet, a space explorer constructs a simple pendulum of length 52.0 cm . The explorer finds that the pendulum completes 108 full swing cycles in a time of 145s .What is the magnitude of the gravitational acceleration o..

What is harold and wandas tax : The next $53,300 in taxable income is taxed at 15 percent, and 25 percent applies to the next $72,000 and what is Harold and Wandas tax

Linear distance on the screen from central bright fringe : Light with a wavelength of 634 nm passes through a slit 7.68 µm wide and falls on a screen 1.85 m away. Find the linear distance on the screen from the central bright fringe to the second dark fringe on either side. cm

User Account

All Pages

Prepare a note disclosure relating to incident

Reference no: EM13549012

Reference no: EM13549012

Questions Cloud

Reviews

Write a Review

Cost Accounting Questions & Answers

Cost accounting assignment

Prepare the journal entries

Advise as to the liability of all the parties

Prepare revenues budget

Effect of exchange rate changes on cash and cash

Corporate governance

Cost-benefit analysis

Non-annual interest rates and annuities

Job costing in service organizations

Accounting for bad debt expense

Accounting and partnership problems

Development of relevant cash flows

Assured A++ Grade

Academics

Major Subjects

Majors

Get In Touch

TERMS & POLICIES

HELP & SUPPORT