Problem 13-11 Polska Corporation, in preparation of its December 31, 2012, financial statements, is attempting to determine the proper accounting
Problem 13-11 Polska Corporation, in preparation of its December 31, 2012, financial statements, is attempting to determine the proper accounting treatment for each of the following situations.1. As a result of uninsured accidents during the year, personal injury suits for $369,200 and $69,800 have been filed against the company. It is the judgment of Polska’s legal counsel that an unfavorable outcome is unlikely in the […]