Ask Experts Questions for FREE Help !
Ask
    leeme's Avatar
    leeme Posts: 2, Reputation: 1
    New Member
    		  
    #1

    Nov 7, 2014, 08:56 AM
    Include recommendations on how to account for this
    Lawsuit for $2,000,000 for an injury caused to a customer allegedly as a result of product use. The suit was filed in March of 2012. The Marshall corporate lawyer feels that it is probable Marshall will not win the suit and currently estimates a judgment against Marshall Corporation between $300,000 and $800,000 with a most likely judgment of $500,000 based on historical similar cases
    odinn7's Avatar
    odinn7 Posts: 7,691, Reputation: 1547
    Entomology Expert
    		  
    #2

    Nov 7, 2014, 09:04 AM
    What about insurance?
    pready's Avatar
    pready Posts: 3,197, Reputation: 207
    Ultra Member
    		  
    #3

    Nov 7, 2014, 09:09 AM
    You should create a liability account and put notes in the financial statements.
Not your question? Ask your question View similar questions
 

Question Tools Search this Question
Search this Question:

Advanced Search

Add your answer here.


Check out some similar questions!

Is bank account a real type of account or personal account [ 2 Answers ]

Types of account are three types that is real account,nominal account and personal account.I need to know, is bank account a real account or personal nature. Please also need to know about type of accountprovision for bad debt and provision for taxation

PC Recommendations? [ 4 Answers ]

I'd appreciate some feedback on lower-priced computers. Our current computer is a Sony Vaio (nearly 8 years old!) and we've had a very good experience with it, but its simply too old for what we need now. About Us/Needs: We prefer PC's DH is in school and will need Word, Excel, Powerpoint,...

Movie recommendations [ 6 Answers ]

Hey everyone, Do you have any interesting/good movie recommendations? I'm a young teenager that enjoyed Twilight, Remember The Titains, The 10th Kingdom, Harry Potter, and many other movies. As you can see, I like a wide range of films such as fantasy, action, romance, some scary, and...

Recommendations of Books [ 2 Answers ]

Can you tell me some good 8th grade books?

Would like some recommendations [ 1 Answers ]

My major project for our plant shutdown is to completely rebuild my LAN. I'm currently using 4 ageing 24 port Cisco 400 series Fasthubs. These deal with all of my LAN traffic all server, printer and workstations. What I was thinking of doing is installing a 16 port Gig switch in each of my two...

View more questions Search