Question: Need an answer real quick please!!!!! Question 16: Statement or Comprehensive Income & Changes in Equity [15 Marks! Suggested Time: You should spend about 30

Need an answer real quick please!!!!!

Need an answer real quick please!!!!! Question 16: Statement or Comprehensive Income

Question 16: Statement or Comprehensive Income & Changes in Equity [15 Marks! Suggested Time: You should spend about 30 minutes on this sechon Part A 18 marks KPMG Australia was auditing an Australian company named Alliance Group for the year ended 30 June 2020. They noticed some events taking place after 30 June 2020 as follows Sernario 18 July 2020: Alliance Group's main fishing fleet was sunk during a frenk storm Insurance will cover the replacement of the vowels but lost sales representing $750 000 in profits are not covered. Scenario B 20 July 2020. Alliance group took delivery of a fishing net for its prawn trawler. The net we purchased from an overseas supplier on delivered duty paid shipping terms and wis in transitat the end of the reporting period An inspection of the net revealed significant structural flows and the net was tstumed to the supplier on 28 July 2020. Alliance group is to receive a full refund of the $850 000 purchase price which had been paid in advance on 30 June 2020, Scenario 27 August 2020. lawsuit was lodged at the company by the families of crew members drowned in the 1 July storm, allesting negligence and claiming 5 million in dumas. No dute husus yet been set for the court hearing Scenario D 1 September 2019 the directo restore to the publie 10 000 dubentures of S12 d. payable 55 on application, som allotment and remaining 57 on call Required: For each scenario above advise whether it is sting or nonadusting event and provide bual explanation

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