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Question - Happy Sdn Bhd purchased a debt instrument on 1 January 2019 at its fair value of RM5 million. The face value of the instrument was RM12 million with an interest rate of 2.35%. The instrument will mature in three years' time with a redemption value of RM6.25 million. The market interest rate was 10%. Transaction cost amounted to RM400,000. The directors wish to measure this transaction at amortised cost using the effective interest rate method as it intends to hold the financial instrument to maturity.
Required - Discuss the accounting treatment in accordance with the relevant financial reporting standards and where necessary, show how it should be disclosed in the financial statements of Happy Sdn Bhd for the year ended 31 December 2019.
Find the present value of $500 due in five years under each of the 12 percent simple rate, compounded semiannually and 12 percent simple rate, compounded annual
An issue of preferred stock is paying an annual dividend of $6. What is the preferred stock price if the required rate of return is 14%?
A ?nancial analyst expects Crane Service Inc. to pay a dividend of $2 per share one year from today, what is the most you would be willing to pay
Prepare the journal entries for the bond issuance on December 31, 2018, to record bond interest expense and discount amortization at June
Prepare the bad debts adjusting entry assuming that management estimates that 3.00% of the credit sales would be uncollectible.
The common stock of Moe's Restaurant is currently selling for 575 per share, has a book value of $65 per share, and there are 1.07 million shares of common stock outstanding. In addition, the firm also has 115,000 bonds outstanding with a par valu..
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How much will you have at the end of 3 years if the bank is paying 6% annually (there is no compounding)? You have decided to invest in a saving plan.
What is the balance of Retained Earnings after the 2019 year-end closing? unadjusted trial balance of Johnson Corporation as at 31 December 2019
Consider a project that has an initial investment cost of $1.5 million. How much would the project have to generate in the bad scenario for the project
Clonex Labs, Inc., uses a process costing system. The following data are available for one department for October: Percent Completed Units Materials Conversion Work in process, October 1 50,000 85% 55% Work in process, October 31 28,000 74% 53%. Comp..
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