At 30 June 2002 a company had Klm 8% loan notes in issue, interest being paid half- yearly on 30 June and 31 December. On 30 September 2002 the company redeemed K250, 000 of these loan notes at par, paying interest due to that date. On 1 April 2003 the company issued K500, 000 7% loan notes, interest payable half-yearly on 31 March and 30 September. Calculate the figure should appear in the company's statement of comprehensive income for interest payable in the year ended 30 June 2003?

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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At 30 June 2002 a company had Klm 8% loan notes in issue, interest being paid half-
yearly on 30 June and 31 December.
On 30 September 2002 the company redeemed K250, 000 of these loan notes at par, paying
interest due to that date.
On 1 April 2003 the company issued K500, 000 7% loan notes, interest payable half-yearly
on 31 March and 30 September.
Calculate the figure should appear in the company's statement of comprehensive income for
interest payable in the year ended 30 June 2003?
Transcribed Image Text:At 30 June 2002 a company had Klm 8% loan notes in issue, interest being paid half- yearly on 30 June and 31 December. On 30 September 2002 the company redeemed K250, 000 of these loan notes at par, paying interest due to that date. On 1 April 2003 the company issued K500, 000 7% loan notes, interest payable half-yearly on 31 March and 30 September. Calculate the figure should appear in the company's statement of comprehensive income for interest payable in the year ended 30 June 2003?
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