Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

12 The journal entry to record the payment of long service leave to an employee is: OAD Provision for long service leave Cash at bank

12 The journal entry to record the payment of long service leave to an employee is: OAD Provision for long service leave Cash at bank None of the above OC Dr. Long service leave expense Cr Casli at bank 00D Cash at bank C Provision for long service leave QUESTION 13 XYZ Ltd. a company listed on the Australian Stock Exchange, issued $10 million of convertible notes on 1 July 2021. The notes had a four-year term and were issued at a face value muelly on 30 June at 7% per annum. Each note was convertible at the option of the holder into one ordinary share on or before maturity. On 1 July 2021, the market interest rate for option, was 8% per ann. The fiscal year end of XYZ Ltd. is 30 June REQUIRED Your answers must comply with 44SB 132 Financial Instruments: Disclosure and Presentation' and 44SB 9 Financial Instruments' 1. Prepare a journal entry to record the issue of the convertible notes on 1 July 2021. 2. Prepare journal entries to record the payments of interest to note holders on 30 June 2022. 3. Assume that all of the notes are converted into ordinary shares at the end of the year ending 30 June 2022 (following the interest payment). Prepare a journal entry to record them Round to the nearest dollar amount. Show all workings. No narration is required. For the anotharcnress AL TE10 (PCnt Al T+N+F10 (Mac

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

More Books

Students also viewed these Accounting questions