Core Limited is a company with a 30 June year end. The company required funds for an expansion project they were planning. The directors, therefore, approved the offer of debentures to the public to raise the funds needed. Core Limited offered 10 000 10% debentures at a par value of R200 each to the public All the debentures on offer were subscribed for and were issued on 1 July 2020. Core Limited will redeem the debentures on 30 June 2025 at a premium of 10% per debenture. Interest is payable annually on 30 June. The transaction cost on the debentures issued amounted to R25 000 in 2020. REQUIRED: Prepare the Statement of Financial Position, including the applicable note disclosure. of Core Limited for the year ended 30 June 2022 to show how the debentures should be presented. Ensure that you include all calculations and prior-year figures.
Core Limited is a company with a 30 June year end. The company required funds for an expansion project they were planning. The directors, therefore, approved the offer of debentures to the public to raise the funds needed.
Core Limited offered 10 000 10% debentures at a par value of R200 each to the public All the debentures on offer were subscribed for and were issued on 1 July 2020. Core Limited will redeem the debentures on 30 June 2025 at a premium of 10% per debenture. Interest is payable annually on 30 June.
The transaction cost on the debentures issued amounted to R25 000 in 2020.
REQUIRED:
Prepare the
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