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Which one of the following would be classified by WDC as a non-adjusting event according to IAS 10, Events After the Reporting Period?NDC's year end is 30 September 20X1.
(a) WDC was notified on 5 November 20X1 that one of its customers was insolvent and was unlikely to repay any of its debts. The balance outstanding at 30 September 2011 was $42 000.
(b) On 30 September WDC had an outstanding court action against it. WDC had made a provision in its financial statements for the year ended 30 September 20X1 for damages awarded it of $22 000. On 29 October 20X1 the court awarded damages of $18 000.
(c) On October 20X1 a serious fire occurred in WDC's main production centre and severely damaged the production faculty.
(d) The year end inventory balance included $50 000 of goods from a discontinued product line. On 1 November 2011 these goods were sold for a net total of $20 000.