The reporting date for the Round company is 31.03.2011. The Financial statements were published at...
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The reporting date for the Round company is 31.03.2011. The Financial statements were published at 15.05.2011. How should the company account for each the following events disclose or disclose and adjust the financial statements? a) The company took a considerable loan in a bank in the amount of $10 000 at 15.04.2011. b) On 20.05.2011 the Companys executives decided to change the main operating activities from car production to airplanes production. c) The Company lost a big part of the equity shares as a result of the fire on the factory of the subsidiary at 1.05.2011.
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