Question
On 1 July 2020 a company had ksh100,000 12% Marl shire County Council Loan Stock whose cost was ksh90,000. The company sold the entire stock
On 1 July 2020 a company had ksh100,000 12% Marl shire County Council Loan Stock whose cost was ksh90,000. The company sold the entire stock on 1 Dec. 2020 at 91 ex-interest. Interest is paid on 30 June and 31 December.
Required: Show the investment account in the company's books for the year ended 30 June 2021.
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Step: 1
Initial Investment 1 July 2020 Purchase of Marl Shire Loan Stock 90000 Ksh Debit Interest Income 31 ...
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International Financial Reporting
Authors: Alan Melville
7th Edition
1292293128, 9781292293127
