courses1195685ass bemud12594201 Kieso Intermediate Accountin

courses/1195685/ass bemud-12594201 Kieso, Intermediate Accounting, 16e PRINTER VE Briet Exercise 13-10 HomewrorkBramble Inc. is involved in a lawsuit at December 31, 2017 13-2 is required, select \"No Entry for the accoont titles and enter O for the amounts. Credit account tiales are automaticaly indented when amount is entered. Do not indent manually Date McCOUnt Titkes and Explsnation 12-10 Credit December 31, 2017 sslts by the December 31 entry, if any, assuming it is not probable that Bramble will be liable for any payment as a result of this suit eccount riles and ester for the amoonts. Credit account titles are automatically indevnted when amount is entered. Do not indent mansally) Date Account Titles and Explanation December 31, 2017 Question Attempts: 0 oe s used sam re-tan\" ort e 6

Solution

Date Accounts titles and explination Debit Credit (a) December 31, 2017 Lawsuit loss 919300      Lawsuit liability 919300 (b) December 31, 2017 No entry 0      No entry 0 (The loss is not accrued because it is not probable that a liability has been occured at 12/31/2017 )