Indicate if the following events or transactions are adjusting events or non-adjusting event. If they are adjusting items, briefly explain the accounting treatment. Year-end was 31 December 2014 and the financial statements were authorised for issue on 15 March 2015.

i. Entity signed a contract to acquire a factory building, at an estimated cost of RM130million, on 10 January 2015.

ii. Entity decided to close down its shoemaking operation on 28 February 2015, which was identified as a separate operation from the rest of the entitys business.

iii. Entity proposed the final ordinary dividend for year 2014 on 1 March 2015.

iv. Fire destroyed the factory and office building of one of its major operations on 10 February 2015. The loss was estimated to be in millions of ringgits and the loss will affect the going concern status of the operation.

v. An entity made a provision for doubtful debts of 2% of its trade receivables and the amount provided for at the end of 31 December 2014 was RM1.5 million. On 15 January, a debtor who owed the entity RM2 million became insolvent.

vi. Closing inventory was determined as RMl.5 million based on cost. Part of the inventory of RM200,000 was damaged but the storekeeper expected the goods to be sold above cost. However, these goods were sold on 19 January for RM120,000.

vii. Entity signed a contract to acquire a factory building on 10 January x4. The estimated cost of the building was RM130 million.

viii. On 28 February x5, the entity decided to close down its bakery operation which was identified as a separate operation from the rest of the entitys business.

ix. The factory plant was damaged on 3 March x5 and the recoverable amount was estimated to be RMl.2 million and the carrying amount was RM1.5 million.

x. Entity proposed the final Ordinary dividend on 1 March x5.

xi. The entity had provided for a contingent liability of RM425,OOO but judgment made on 12 February x5 was RM500,OOO

xii. A civil suit was brought against the entity before the end of the financial year. The lawyers advised the company that the company would lose the case and suffer a loss of RM1.2 million. On 10 March x5, the company and the complainant agreed to settle it out of court. The company paid RM 1 million.

xiii. Entity was part way through the construction of an office block. The initial contract price was RM25 million. However, on 12 February x5, the contract price was revised to RM17 million.