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What is the nature of this event after the eporting period? a) Adjusting Non-adjusting None of the above b) c) One of the company's warehouses
What is the nature of this event after the eporting period? a) Adjusting Non-adjusting None of the above b) c) One of the company's warehouses is situated at the coast of Lderitz. A tropical storm struck the area during late August 2020 and flooded the warehouse, destroying the entire inventory on the ground floor, comprising modems and lightning protector kits. The inventory was included on the draft statement of financial position at 30 June 2020 at a cost of N$3 000 0000. The financial year end of the company is 30 June. What is the nature of this event after the reporting period? a) b) Adjusting Non-adjusting None of the above. c) 7. A customer of the company was placed under liquidation at the end of July 2020. The amount of N$400 000 owing by this customer was included in the accounts receivable on the draft statement of financial position at 30 June 2020. The financial year end of the company is 30 June 2020. What is the nature of this event after the reporting period? a) b) c) Adjusting Non-adjusting. None of the above. 3
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