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part (a) Under IFRS, how is a convertible bond presented on the statement of financial position? 1) liability 2) as a liability only until it
part (a) Under IFRS, how is a convertible bond presented on the statement of financial position?
1) liability 2) as a liability only until it is converted to common shares then equity 3) as a both a liability and equity 4) as equity
part ( b)
On October 1, 2020, Letterman Ltd. issued a 20-year, $5,000,000 convertible bond at par value, convertible to 20,000 common shares. Interest is payable semi-annually at 5%. Letterman reports using IFRS. How should Letterman account for the bond at initial recognition?
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