Armagnacq Ltd is seeking your advice on how to account for the following transactions, in line with the Conceptual Framework and other relevant documents.

1. Armagnacq Ltd raised \($1\) 000 000 by issuing 100 000 3-year redeemable preference shares on 1 January 2025. The shares were redeemable on 31 December 2027 for \($1\) 259 712. The company classified these shares as equity.

2. Armagnacq Ltd raised \($1\) 000 000 by issuing 100 000 3-year redeemable preference shares on 1 January 2025. The shares are only redeemable at the option of Armagnacq Ltd. The company classified these shares as equity.

3. Armagnacq Ltd raised \($1\) 000 000 by issuing 100 000 3-year redeemable preference shares on 1 January 2025. The shares are only redeemable at the option of the holders. The company classified these shares as equity.

4. Armagnacq Ltd's plant and equipment is beginning to get old so the accountant decided to debit an expense of \($50\) 000 for Repairs and Maintenance and credit a liability account called Provision for Repairs and Maintenance, despite the fact that the company had not spent any money on repairs and maintenance during the financial year. The accountant argued that as the machinery was getting old that using it during the year meant that it was more likely to need repairs and maintenance in the future so he was expensing this amount in preparation for when the work was taken out in the future.

5. Armagnacq Ltd is in the business of selling house and land packages to its customers. The current demand for these packages is extremely low and this is placing Armagnacq Ltd in severe financial difficulties. The company has approached Freelands Finance Funds Ltd (FFF), to provide special finance for the buyers of their house and land packages. FFF normally charges 6% interest but agrees to lower the interest rate by 2%. Customers of Armagnacq Ltd will therefore pay only 4% interest and Armagnacq Ltd will then pay FFF a sum equal to 2% interest as soon as each package is sold. Armagnacq Ltd wants to know how to treat the 2% payment to FFF in its accounting records.

Required Discuss and explain your recommended treatment of each of the situations above.