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QUESTION
Instructions: There are NO FINANCIAL STATEMENTS TO prepare here. You simply have to write a disclosure for each scenario .
This change is based on the estimated change in useful life for that equipment.
- 2) Litigation - On November 10, 2012, a Ken Corp. truck was in an accident and a notice of a lawsuit was filed against the company seeking $ 800,000 in damages for personal injuries. Ken Corp believes that it is reasonably possible the plaintiff could be awarded $750,000, but the range is considered to be between $ 500,000 and $1,000,000.
