FFC company has recently employed a new financial assistant. The financial assistant has been asked to prepare some information for the upcoming audit review. Part of this work involves the correct classification of recent transactions within the statement of financial position. Applying IAS 32 Financial Instruments: Presentation, match each of the recent transactions shown with the correct category of 'financial asset', 'financial liability' or 'equity instrument'. Solution FFC issued 100,000 5% bonds with a par value of F$100 eachFFC issued 10,000 F$1 ordinary sharesFFC purchased an investment in ordinary shares in another company for F$100,000FFC purchases goods on credit for F$45,000FFC purchased 500,000 3% bonds with a par value of F$100 each Financial asset: Financial liability: Equity instrument