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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.
In February, one of the processing departments at Manger Corporation had beginning work in process inventory of $25,000 and ending work in process inventory of $34,000. During the month, $290,000 of costs were added to production and the cost of unit..
design flooring carpet company manufactures carpets. fiber is placed in process in the spinning department where it is
Post the journal entries to general ledger accounts. Prepare journal entries, in good form, to record the May transactions. Explanations are optional.
What is the primary goal of an equity research report? What are three required elements that are commonly included in an equity research report
Depict the regression line on your graph. Use your graph to calculate the regression line using the criteria of economic plausibility, goodness of fit as well as significance of the independent variable.
The ending bank statement balance at November 30 is $6,750. The bank statement shows a service charge of $65?, electronic funds receipts of? $500, and a NSF check for? $350. Deposits in transit total $2,050 and outstanding checks are $1,335. The bala..
The Le Company's bank statement for April 30 showed a cash balance of $5,719. The company's Cash account in its general ledger showed a $4,995 debit balance.
hand-in assignment questionthe income statement for abcs 2012 fiscal year is presented below. abc manufactures one type
On January 1, 2014, Richards Inc. had cash and common stock of $62,150. At that date, the company had no other asset, liability, or equity balances. On January 2, 2014, it purchased for cash $20,810 of equity securities that it classified as availabl..
Assuming that a 20% bonus issues was declared and distributed, what is the total shareholders' equity after the distribution of the bonus issue?
How much is the annual rental? Terms of the lease specify 4 year life for the lease, an annual interest rate of 15%, and 4-year-end rental payments.
Its EBIT was $25 million, and its federal tax rate was 21% (ignore any possible state corporate taxes). What was its interest expense
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