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64 PREPARE FINANCIAL REPORTS FOR A REPORTING ENTITY
13. Prepare entries in general journal form to record the following unrelated transactions.
(a) Binchy Ltd issued a prospectus inviting applications for 280,000 $100 6% debentures, payable in full on application. The issue was subscribed for in full by the closing date of 30 September.
(b) Interest payments on the following debentures. 150,000 $100 4.5% debentures with interest paid semi-annually on 1 March and 1 September.
(C) Burkley Ltd redeemed $7,500,000 worth of5.8% debentures on their maturity date of 30 June.
(d) Saaz Ltd issued 225,000 $100 8% Debentures on 1 January. Maturity date is 31 December. On 15 May the company purchased on the ASX 45,000 of the debentures at a price of$ 106.
(e) Hersbrucker Ltd issued 150,000 $100 6.5% Debentures on I April 2010 with interest payable semi-annually. On I December 2010, the company purchased on the ASX 55,000 ofthe debentures, at a price of$97. Record all transactions including the interest payments on 30 September 2010 and 31 March 2011.
13. Prepare entries in general journal form to record the following unrelated transactions.
(a) Binchy Ltd issued a prospectus inviting applications for 280,000 $100 6% debentures, payable in full on application. The issue was subscribed for in full by the closing date of 30 September.
(b) Interest payments on the following debentures. 150,000 $100 4.5% debentures with interest paid semi-annually on 1 March and 1 September.
(C) Burkley Ltd redeemed $7,500,000 worth of5.8% debentures on their maturity date of 30 June.
(d) Saaz Ltd issued 225,000 $100 8% Debentures on 1 January. Maturity date is 31 December. On 15 May the company purchased on the ASX 45,000 of the debentures at a price of$ 106.
(e) Hersbrucker Ltd issued 150,000 $100 6.5% Debentures on I April 2010 with interest payable semi-annually. On I December 2010, the company purchased on the ASX 55,000 ofthe debentures, at a price of$97. Record all transactions including the interest payments on 30 September 2010 and 31 March 2011.
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