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Unformatted text preview: the two agreements were signed should show $144,000 in current liabilities and $576,000 in long-term liabilities, or whether the two agreements should be disclosed in a contingencies note to the financial statements. How should Linda Reeves reply to the controller's questions? Explain Subsequent Events 12/31 2/14 2/28 balance sheet field work report date completion issue date period under audit subsequent events period Subsequent events are events or trans- actions having a material effect on the financial statements that occur after the balance sheet date but before field work completion....
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This note was uploaded on 10/05/2011 for the course ACG 5637 taught by Professor Monikacaushoulli during the Fall '08 term at University of Florida.
- Fall '08