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What yankee should accrue a provision amounting to

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problem 1: Yankee, Inc. is being sued for illness caused to local residents as a result of negligence on the company's part in permitting the local residents to be exposed to highly toxic chemicals from its plant. Yankee's lawyer states that it is probable that Yankee will lose the suit and found liable for a judgement costing Yankee anywhere from P400,000 to P2,000,000. However, the lawyer states that the best estimate of the expenditure required to settle the obligation is P1,200,000. As a result of the foregoing facts, Yankee should accrue a provision amounting to

Reference no: EM132850037

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