Page 82 - F2 Integrated Workbook STUDENT 2019
P. 82
Chapter 3
Example 3.8
On 1 January 20X1, Lucas invests $10,000 in 10% debentures. The debentures
will be repaid at a premium at the end of their term and Lucas’ business model
is to hold the debentures until this time. The effective rate of interest is 14%.
Required:
Prepare extracts from the statement of profit or loss and statement of
financial position for the years ended 31 December 20X1 and 20X2.
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