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Q10 Disclosure 6 Points The following information is relevant to questions 10.1, 10.2, and 10.3. The following independent events occurred at Darwin Crocodile Tour Operators
Q10 Disclosure 6 Points The following information is relevant to questions 10.1, 10.2, and 10.3. The following independent events occurred at Darwin Crocodile Tour Operators in the 2021 calendar year. The financial year ends 30 June 2021, and the financial reports are issued on 26 August 2021. Q10.1 2 Points On July 25 a lawsuit was filed against the company for a workplace injury sustained on June 12 by the coo due to a slippery deck. Required: Discuss how the entity should treat and disclose the event in accordance with AASB 110. Enter your answer here Q10.2 2 Points To make amends, the CEO Rachel Freshwater gave the injured COO's sister the role of CFO and $5,000 worth of shares to the Coo on the June 28. Required: Discuss how the entity should treat and disclose the above transactions in accordance with AASB 124. Enter your answer here Q10.3 2 Points The new CFO changes the depreciation rate on all Equipment to 5% per annum from 8%, to make the profit figure "healthier". Required: Discuss how the entity should treat and disclose the above change in accordance with AASB 108. Enter your answer here
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