9th Edition

ISBN: 9781260216141

Author: SPICELAND

Publisher: MCG CUSTOM

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Chapter 13, Problem 13.18BE

Unasserted assessment

• LO13–5, LO13–6

At March 13, 2019, the Securities Exchange Commission is in the process of investigating a possible securities law violation by Now Chemical. The SEC has not yet proposed a penalty assessment. Now’s fiscal year ends on December 31, 2018, and its financial statements are published in March 2019. Management feels an assessment is reasonably possible, and if an assessment is made, an unfavorable settlement of $13 million is probable. What, if any, action should Now take for its financial statements?

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Chapter 13, Problem 13.17BE

Chapter 13, Problem 13.1E

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Chapter 13 Solutions

INTERMEDIATE ACCOUNTING(LL)-W/CONNECT

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