Solution-State clearly the type of subsequent event

State clearly the type of subsequent event

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Reference no: EM133016374

Question - Given the following four subsequent events (unrelated) for the December 31, 2016 year-end:

i. On January 15, 2017, a contingent liability was settled.

ii. On January 25 2017 management disposed of a business segment representing 40% of the total assets.

iii. On January 3, 2017, management issued new common stock.

The audit report date is February 2, 2017.

Required - State clearly the type of subsequent event (Type I or Type II), if any, and the required impact on the financial statements.

Reference no: EM133016374

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State clearly the type of subsequent event

Reference no: EM133016374

Reference no: EM133016374

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