You have just started as a staff auditor for a small CPA firm. During the course of the audit, you discover the following items related to a single client firm:
a. During the year, the firm declared and paid $10,000 in dividends.
b. Your client has been named defendant in a legal suit involving a material amount. You have received from the client's counsel a statement indicating little likelihood of loss.
c. Because of cost control actions and general employee dissatisfaction, it is likely that the client will suffer a costly strike in the near future.
d. Twenty days after closing, the client suffered a major fire in one of its plants.
e. The cash account includes a substantial amount set aside for payment of pension obligations.
f. Marketable securities include a large quantity of shares of stock purchased for control purposes.
g. Land is listed on the balance sheet at its market value of $1,000,000. It cost $670,000 to purchase 12 years ago.
h. During the year, the government of Uganda expropriated a plant located in that country. There was substantial loss.
Required:
How would each of these items be reflected in the year-end balance sheet, including notes?