Each of the following events occurred after year-end and before the financial statements were issued:

Expert Solution

1.

Fire destroys warehouse - non adjusting since fire is a new event

2.

Lawsuit settled initiated two years ago – adjusting since lawsuit was existing event at the reporting date

3.

Existing customer went bankrupt – adjusting since customer and accounts receivable existed at the reporting date

4.

New shares were issued – non adjusting since issuing shares new event

5.

Company initiated restructuring program – non adjusting restructuring plan is new event

Junaid answered 1 year ago

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