Blackrock Paper, Inc. owns and operates a large pulp and paper mill in western Georgia. In late December 2010, as accountants are closing the books

********** and ********** *********** *********** a **** document complete the ********* ********************* Paper *** **** and ******** * ***** pulp and ***** **** ** western Georgia In late December 2010 ** *********** *** ******* *** ***** *** the ****** **** **** **** ******* *********** legal issues *** issue ** ** ************* ********** ****** ***** pending *********** to ******** emissions ** dioxins *** ****** that ******** **** * ****** ****** * ****** **** ******** * ******** discharge case ** a ****** ******** *** was ********** ** ****** 2010 Lastly * current employee has ***** **** against *** ******* *** compensatory damages *** a work-related ****** ******** ***** ********* equipment ** the **** **** *** ***** ***** ** ** ******* *** employee ** ******* ******* ** *** order ** ********************* ***** ******* ******** **** the *** **** *** ***** $5500000 but will *** ** ******* within *** **** year Counsel **** *** think ***** ** *********** ***** ** the wrongful discharge **** ** which the former ******** ** ***** *** $1500000 The **** ********* the current ******** is believed ** have merit *** ***** ** *** ********** ** ******* *** of ***** *** $500000 ** *** **** * – ** **************** the ********** liabilities **** ********* Paper *** ****** recognize *** **** ****** period Legal ******* ******* ******* *********** 5500000To ****** ******** *** ********* **** from *** on airborne emissions Legal ******* 500000Accrued *********** ****** To ****** ******** *** ********* ************ ********** *** current employee Prepare * **** ** *** ********* statement **** ********** **** *** ****** of *** ********** ********* **** *** **** ** **** * ***** ** **** ** *** ***** ******* *********** **** readers ** *** financial ********** ******** the year ** 2010 ********* ***** *** *** ***** ** **** a * **** ******* **** **** the ************* ********** ****** ***** that may ** ********** ** $5500000 ********* ******** ***** ***** will not ** ******* ****** *** **** **** * ******* *** **** ***** ******* ********* ** * former employee who *** ********** ** **** ****** *** * wrongful *********** ** *** amount ** $1500000 ********* ******** *** ********** ** this **** having ***** ** *** probable the **** will ** ********* and the ******* **** **** no material ****** on operating ******* financial ******** ** **** ***** ******* *** **** filed from a current ******** for ************ damages ******** ****** * ************ ****** while ********* ********* Blackrock ******** **** **** be settled *** ** ***** ****** *** next nine to ****** ****** in *** amount ** *********** ********** ********* relate ** **** scenario *** ******* guidance ** *** proper accounting *** ***** **************** ********** for *** ********* *** **** ************* ***** counsel ******** there is * ********** *** **** occurrence *** *** ****** can ** ********** ********* ** determining *********** *** ************* “GAAP uses *** terms ******** ********** possible *** remote…” ******** Bazely ***** ***** **** ***** ***** ***** ** ********** probability **** **** ** both *********** *** ********* *********** *** lawsuit ***** *** ******** ********* is believed ** *** **** ***** *** *** ** reasonably ******** *** the ********** ** remote ********* ** ** *** *********** *** **** ********* as a ******* ********** ***** means ** ** **** **** ****** but **** than ****** (Nikolai ****** & ***** ***** *** suit ***** for ************ ******* ** believed ** ***** ******* to have ***** *** *** **** ** probable ********** ******** *** more **** ****** ** * ****** **** ********** *** contingency *** also disclose their actions of ******** ********** *** ** ************ Sports sells *********** to customers ** the ***** ******** region Snowmobiles retail *** ***** *** **** **** a 2-year warranty ***** ****** *** been ** ******** for 3 ***** *** has **** ** ********* that *** ******* ******** ******* *** ********** is$300 ** the ********** *** ***** ****** *** are closing *** ***** *** ********* ********** the ***** ** ********* ** *********** were **** ************ 4 *********** came in ****** **** **** ****** *** warranty ******* **** * ***** ** $950 ** ***** ******* *** **** in ************ *** ********* two journal ***************** ***** *** warranty ******* *** the ********** ** ******** ******************* ****** ******************* x75) ****** ******** ******** *************** ******* ****** **** of 75 *********** *** the ****** of ********* 2011 Adjusting ***** *** ******** repairs provided ****** *** monthWarranty ******* **** Cash ****** recognize ******** ******* *** *** month ********* **** Unearned ******** Revenue **** ******** ******* **** ** ********* warranty ******* *** *** ***** September 2011                     REFERENCENikolai * A ****** * D ***** ***** * P ****************** *************** *** Mason *** ************* Cengage ********


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