Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

On 1 June 2022 Relebogile Limited issued 12000 15% debentures of R150 ead Time left 0:53:28 The debentures are repayable at nominal value on or

On 1 June 2022 Relebogile Limited issued 12000 15% debentures of R150 ead Time left 0:53:28 The debentures are repayable at nominal value on or before 31 May 2026 and interest is payable annually on 31 May of every year. A mortgage on land and buildings serve as security for the debentures. Relebogile Ltd amortises the premium on debentures over the term of the debenture issue according to the straight-line method. Relebogile Limited's year-end is 31 December. Question 30 Which one of the following alternatives represents the correct amount to be recognised as premium/discount in the financial statements of Relebogile Ltd for the year ended 31 December 2022? A. R300000 Discount B. R300000 Premium C. R270 000 Premium D. R270000 Discount

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

Step: 3

blur-text-image

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

Audit Management A Complete Guide

Authors: Gerardus Blokdyk

2019 Edition

0655813640, 978-0655813644

More Books

Students also viewed these Accounting questions

Question

What is an interface? What keyword is used to define one?

Answered: 1 week ago