Green Co. was preparing its year-end financial statements. Green had a pending lawsuit against a competitor for USD5,000,000 in damages. Green's attorneys indicate that obtaining a favorable judgment was probable and the amount of damages is reasonably estimated. Green incurred USD100,000 in legal fees. The income tax rate was 30%. What amount, if any, should Green recognize as a contingency gain in its financial statements?
参考答案(由小熊题库网聘请的专业题库老师提供的解答)
请点击↑↑↑ 查看官方参考答案 按钮
习题解析
请点击 查看官方参考答案 按钮
您可能感兴趣的题目
1 .下列货物中，适用13%低税率的是（ ）。
A 食用植物油 B 饲料 C 淀粉 D 大米
2 .On April 1, Fine Corp. faxed Moss an offer to purchase Moss' warehouse for USD500,000. The offer stated that it would remain open only until April 4 and that acceptance must be received to be effective. Moss sent an acceptance on April 4 by overnight mail and Fine received it on April 5. Which of the following statements is correct?
A No contract was formed because Moss sent the acceptance by an unauthorized method. B A contract was formed when Fine received Moss' acceptance. C No contract was formed because Fine received Moss' acceptance after April 4. D A contract was formed when Moss sent the acceptance.
3 .At December 31, Date Co. awaits judgment on a lawsuit for a competitor's infringement of Date's patent. Legal counsel believes it is probable that Date will win the suit and indicated the most likely award together with a range of possible awards. How should the lawsuit be reported in Date's December 31 financial statements?
A In note disclosure only. B By accrual for the lowest amount of the range of possible awards. C By accrual for the most likely award. D Neither in note disclosure nor by accrual.
4 .下列关于食品加工企业的业务处理中说法错误的是（ ）。
A 购入食品加工添加剂，取得增值税普通发票，可以抵扣进项税 B 从农民手中收购大豆，可以按照收购凭证上注明的收购款和13%的扣除率计算进项税额 C 购买建材用于修缮仓库，取得增值税专用发票，可以抵扣进项税额 D 购进生...
5 .Under the Negotiable Instruments Article of the UCC, a holder in due course in a nonconsumer transaction takes a negotiable instrument free from which of the following defenses that may be asserted by a party with whom the holder in due course had not dealt?
A Breach of contract. B Discharge in an insolvency proceeding. C Infancy, to the extent that it is a simple contract defense. D Fraud in the execution.
7 .下列各项中，属于消费税征收范围的有（ ）。
A 气缸容量250毫升（不含）以下的小排量摩托车 B 车用含铅汽油 C 电池 D 气缸容量为250毫升的摩托车
8 .Under the Secured Transactions Article of the UCC, a secured party generally must comply with each of the following duties, except:
A Confirming, at the debtor's request, the unpaid amount of the debt. B Using reasonable care in preserving any collateral in the secured party's possession. C Assigning the security interest to another party at the debtor's request. D Filing or sending the debtor a termination statement when the de...
9 .A derivative financial instrument is best described as:
A A contract that conveys to a second entity a right to future collections on accounts receivable from a first entity. B Evidence of an ownership interest in an entity such as shares of common stock. C A contract that conveys to a second entity a right to receive cash from a first entity. D A contra...
10 .根据消费税法律制度的规定，下列关于消费税纳税环节的表述中，正确的有（ ）。
A 纳税人生产应税消费品对外销售的，在销售时纳税 B 纳税人自产自用应税消费品，不用于连续生产应税消费品而用于其他方面的，在移送使用时纳税 C 纳税人委托加工应税消费品，收回后直接销售的，在销售时纳税 D 纳税人委...
