Contingent Liabilities Several months ago, Cinnabar Chemical Company experienced a hazardous materials spill at one of...
Contingent Liabilities Several months ago, Ayers Industries Inc. experienced a hazardous materials spill at one of its plants. As a result, the Environmental Protection Agency (EPA) fined the company $420,000. The company is contesting the fine. In addition, an employee is seeking $430,000 in damages related to the spill. Lastly, a homeowner has sued the company for $260,000. The homeowner lives 30 miles from the plant, but believes that the incident has reduced the home's resale value by $260,000. Ayers’...
Contingent Liabilities Several months ago, Ayers Industries Inc. experienced a hazardous materials spill at one of its plants. As a result, the Environmental Protection Agency (EPA) fined the company $550,000. The company is contesting the fine. In addition, an employee is seeking $350,000 in damages related to the spill. Lastly, a homeowner has sued the company for $350,000. The homeowner lives 30 miles from the plant, but believes that the incident has reduced the home's resale value by $350,000. Ayers'...
Progress:3/5 items eBookCalculator Contingent Liabilities Several months ago, Ayers Industries Inc. experienced a hazardous materials spill at one of its plants. As a result, the Environmental Protection Agency (EPA) fined the company $560,000. The company is contesting the fine. In addition, an employee is seeking $550,000 in damages related to the spill. Finally, a homeowner has sued the company for $350,000. The homeowner lives 30 miles from the plant but believes that the incident has reduced the home's resale value...
Several months ago, Ayers Industries Inc. experienced a hazardous materials spill at one of its plants. As a result, the Environmental Protection Agency (EPA) fined the company $540,000. The company is contesting the fine. In addition, an employee is seeking $490,000 in damages related to the spill. Finally, a homeowner has sued the company for $340,000. The homeowner lives 30 miles from the plant but believes that the incident has reduced the home's resale value by $340,000. Ayers’ legal counsel...
Case 5-1 Accounting for BP P:C's Deep water Horizon Oil Spill Case 5-1 Accounting for BP PLC’s Deepwater Horizon Oil Spill On April 20, 2010, an explosion at BP PLC’s Macondo well in the Gulf of Mexico caused the largest oil spill and one of the worst environmental disasters in U.S. history. Because the incident occurred at the Deepwater Horizon drilling rig, this incident is often referred to as the Deepwater Horizon spill. Approximately 4.9 million barrels of oil were...