At 30 June 2002 a company had $1m 8% loan notes in issue, interest being paid half-yearly on 30 June and 31 December.
On 30 September 2002 the company redeemed $250,000 of these loan notes at par, paying interest due to that date.
On 1 April 2003 the company issued $500,000 7% loan notes, interest payable half-yearly on 31 March and 30 September.
What figure should appear in the company’s income statement for interest payable in the year ended 30 June 2003?
A $88,750 B $82,500 C $65,000 D $73,750.
D A $80,000 + 7% x $500,000 x 3/12 B As D but including 7% x $500,000 x 6/12 instead of 3/12 C As D but excluding 7% x $500,000 x 3/12 D 8% x $1m x 3/12 + 8% x $750,000 x 9/12 + 7% x $500,000 x 3/12作者: wispydog 时间: 2008-5-27 17:21
