QUESTION 8 On January 1 2018, Trademark Bhd issued 1,000 units, 10-year debentures, RM1,000 per unit, 6%. Interest payment is made once a year, on January 1. (Assume 360 days a year). REQUIRED: a) Calculate the annual interest payable to holders of debentures. 60 b) Determine the maturity date of debentures. c) Prepare the journal entries to record : i) ii) iii) iv) 000 000 The issuance of the debentures. The adjustment for the year ended June 30 2019. The payment of interest on January 1 2020. The redemption of debentures at maturity date.

QUESTION 8 On January 1 2018, Trademark Bhd issued 1,000 units, 10-year debentures, RM1,000 per unit, 6%. Interest payment is made once a year, on January 1. (Assume 360 days a year). REQUIRED: a) Calculate the annual interest payable to holders of debentures. 60 b) Determine the maturity date of debentures. c) Prepare the journal entries to record : i) ii) iii) iv) 000 000 The issuance of the debentures. The adjustment for the year ended June 30 2019. The payment of interest on January 1 2020. The redemption of debentures at maturity date.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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