ACCT2002 2022 T2 Exam QUESTION 3 12 Marks Styles Voice Editor Rover Ltd has a year-end of 30 June 2022. The accountant has prepared the following schedule with details of several events and their proposed treatment in the financial statements. Event The notification of a customer's bankruptcy who owes $25,000 on 30 June 2022 and now owes $30,000. The liquidator has indicated that the debt will not be recoverable. Proposed Treatment Write off $30,000 debt as it is irrecoverable. A major production plant was destroyed No adjustment or reference to the issue by fire on 1 July 2022. Ordinary dividends declared on 1 August 2022 regarding profits for the period ended 30 June 2022. Discovery of a significant fraud on 15 July 2022, resulting in losses to the company. Required: is required as the fire took place after the year-end. Liability for dividends payable recognised. No adjustment is required as the fraud was discovered after the period end. In each of the instances above, explain whether the accountant has proposed the correct treatment and, if not, what the required treatment should be