Question: Fo 1 Normal No Spacing Heading Heading 2 Paragraph QUESTION 5 9 MARKS Fearless Ltd's reporting period ends 30 June 2021, and the financial statements

Fo 1 Normal No Spacing Heading Heading 2 Paragraph QUESTION 5 9 MARKS Fearless Ltd's reporting period ends 30 June 2021, and the financial statements are authorised for issue on 31 August 2021. Should the following events be adjusted or disclosed? Comment. (a) On 30 July 2021, a major drop in the price of shares means that the value of the company's investments has declined by 25% since 30 June 2021. (b) A debtor who owed a significant sum of money at 30 June 2021 was declared bankrupt on 18 August 2021. (c) A major explosion occurred on 20 July 2021, causing significant losses for the company

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