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[主观题]

Bertrand issued $10 million convertible loan notes on 1 October 2010 that carry a nominal

interest (coupon) rate of 5% per annum. They are redeemable on 30 September 2013 at par for cash or can be exchanged for equity shares in Bertrand on the basis of 20 shares for each $100 of loan. A similar loan note, without the conversion option, would have required Bertrand to pay an interest rate of 8%.

When preparing the draft financial statements for the year ended 30 September 2011, the directors are proposing to show the loan note within equity in the statement of financial position, as they believe all the loan note holders will choose the equity option when the loan note is due for redemption. They further intend to charge a finance cost of $500,000 ($10 million x 5%) in the income statement for each year up to the date of redemption.

The present value of $1 receivable at the end of each year, based on discount rates of 5% and 8%, can be taken as:

Bertrand issued 10 million convertible loan notes

Required:

(a) (i) Explain why the nominal interest rate on the convertible loan notes is 5%, but for non-convertible loan notes it would be 8%. (2 marks)

(ii) Briefly comment on the impact of the directors’ proposed treatment of the loan notes on the financial statements and the acceptability of this treatment. (3 marks)

(b) Prepare extracts to show how the loan notes and the finance charge should be treated by Bertrand in its financial statements for the year ended 30 September 2011. (5 marks)

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发布时间：2023-02-27

更多“Bertrand issued $10 million convertible loan notes on 1 October 2010 that carry a nominal”相关的问题

第1题

听力原文：Under the general rules, once the documents are passed to the remitting bank by t

he drawer, the bank has an absolute right over the goods through the title documents.

(10)

A．Once the title documents are entrusted, the goods are at the disposal of the collecting bank.

B．The title documents enable the remitting bank to dispose the goods according to the instruction given in the collection order.

C．The title documents are usually issued by the drawee.

D．In spite of the possession of the title documents, the bank can not deal with the goods without the allowance of the drawer.

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第2题

Included within the financial assets of Zinet Co at 31 March 20X9 are the following two re

cently purchased investments in publically-traded equity shares:

Investment 1 – 10% of the issued share capital of Haruka Co. This shareholding was acquired as a long-term investment as Zinet Co wishes to participate as an active shareholder of Haruka Co.

Investment 2 – 10% of the issued share capital of Lukas Co. This shareholding was acquired for speculative purposes and Zinet Co expects to sell these shares in the near future.

Neither of these shareholdings gives Zinet Co significant influence over the investee companies.

Wherever possible, the directors of Zinet Co wish to avoid taking any fair value movements to profit or loss, so as to minimise volatility in reported earnings.

How should the fair value movements in these investments be reported in Zinet Co’s financial statements for the year ended 31 March 20X9？

A.In profit or loss for both investments

B.In other comprehensive income for both investments

C.In profit or loss for investment 1 and in other comprehensive income for investment 2

D.In other comprehensive income for investment 1 and in profit or loss for investment 2

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第3题

（a) Apex is a publicly listed supermarket chain. During the current year it started the bu

(a) Apex is a publicly listed supermarket chain. During the current year it started the building of a new store. The directors are aware that in accordance with IAS 23 Borrowing costs certain borrowing costs have to be capitalised.

Required:

Explain the circumstances when, and the amount at which, borrowing costs should be capitalised in accordance with IAS 23. (5 marks)

(b) Details relating to construction of Apex’s new store:

Apex issued a $10 million unsecured loan with a coupon (nominal) interest rate of 6% on 1 April 2009. The loan is redeemable at a premium which means the loan has an effective fi nance cost of 7？5% per annum. The loan was specifi cally issued to fi nance the building of the new store which meets the defi nition of a qualifying asset in IAS 23. Construction of the store commenced on 1 May 2009 and it was completed and ready for use on 28 February 2010, but did not open for trading until 1 April 2010. During the year trading at Apex’s other stores was below expectations so Apex suspended the construction of the new store for a two-month period during July and August 2009. The proceeds of the loan were temporarily invested for the month of April 2009 and earned interest of $40,000.

Required:

Calculate the net borrowing cost that should be capitalised as part of the cost of the new store and the fi nance cost that should be reported in the income statement for the year ended 31 March 2010. (5 marks)

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第4题

3 （a) Leigh, a public limited company, purchased the whole of the share capital of Hash, a

3 (a) Leigh, a public limited company, purchased the whole of the share capital of Hash, a limited company, on 1 June

2006. The whole of the share capital of Hash was formerly owned by the five directors of Hash and under the

terms of the purchase agreement, the five directors were to receive a total of three million ordinary shares of $1

of Leigh on 1 June 2006 (market value $6 million) and a further 5,000 shares per director on 31 May 2007,

if they were still employed by Leigh on that date. All of the directors were still employed by Leigh at 31 May

2007.

Leigh granted and issued fully paid shares to its own employees on 31 May 2007. Normally share options issued

to employees would vest over a three year period, but these shares were given as a bonus because of the

company’s exceptional performance over the period. The shares in Leigh had a market value of $3 million

(one million ordinary shares of $1 at $3 per share) on 31 May 2007 and an average fair value of

$2·5 million (one million ordinary shares of $1 at $2·50 per share) for the year ended 31 May 2007. It is

expected that Leigh’s share price will rise to $6 per share over the next three years. (10 marks)

Required:

Discuss with suitable computations how the above share based transactions should be accounted for in the

financial statements of Leigh for the year ended 31 May 2007.

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第5题

CIF贸易术语信用证实务操作一、已知资料：信用证 Message Type: 26－APIRL－1109: 22AM Sender LT: YAPITRI

CIF贸易术语信用证实务操作

一、已知资料：信用证

Message Type: 26-APIRL-1109: 22AM

Sender LT: YAPITRISAFEX

YAPI VE KREDI BANKASI A. S.

(FX/MM OPERATIONS)

YAPI KREDI

PLAZABUYUKDERE

CADDESILEVENT

ISTANBUL

Receiver LT:

BKCHCNBJX300

BANK OF CHINA

(SHANGHAI BRANCH)

103ZHONGSHAN SOUTH I ROAD

- - - - MESSAGE BODY- - -

27: Sequence of Total:

1/1

40A: Form of Documentary Credit:

IRREVOCABLE

20: Documentary Credit Number:

96011101006

31C: Date of Issue:

110426

40E: Applicable Rules:

UCPURR LATEST VERSION

31D: Date and Place of Expiry:

110705AT YOUR COUNTERS

50: Applicant:

GAMA IPLIK VE DOKUMA SAN. A. S.

2.0RGANIZE SAN. BOLGESI

BASPINAR GAZIANTEP

59: Beneficiary :

SHANGHAI HUASHENG TRADING

CO. , LTD. 12F NO. 219LANE 888DONGDAMIN

RD. SHANGHAI CHINA 200082

32B: Currency Code/Amount:

USD 125000

39B: Maximum Credit Amount:

NOT EXCEEDING

41A: Available With...By...:

BKCHCNBJX300

BANK OF CHINA

(SHANGHAI BRANCH)

103ZHONGSHAN SOUTH 1ROAD

BY PAYMENT

43P: Partial Shipments:

ALLOWED

43T: Transshipment:

ALLOWED

44E: Port of Loading/Airport of Departure:

SHANGHAI, CHINA BY VESSEL

44F: Port of Discharge/Airport of Destination:

IZMIT, TURKEY

44C: Latest Date of Shipment:

110615

45A: Description of Goods and/or Services:

POLYESTER STAPLE FIBER BLACK RECYCLED

1.5D×38MM

QUANTITY:100MTS

UNIT PRICE:USD 1250/MT TOTAL AMT:125000. 00

TERMS OF DELIVERY: CIF, IZMIT TURKEY(INCOTERMS 2010)

46A: Documents Required:

+3ORIGINAL PLUS 3COPIES OF COMMERCIAL INVOICE DULY

SIGNED BY THE BENEFICIARY INDICATING CIF VALUE TOTALLY

(FOB,FREIGHT AND INSURANCE PREMIUM SEPARATELY) AND THE

ORIGIN OF THE GOODS SHIPPED.INVOICE CERTIFYING THE GOODS

HAVE BEEN SHIPPED AS PER PROFORMA INVOICE NO. : BS-WBA110

DATED 110415

+3ORIGINAL PLUS 3COPIES OF CLEAN ON BOARD B/L ISSUED OR

ENDORSED TO THE ORDER OF YAPI VE KREDI BANKASI A, S MARKED

FREIGHT PREPAID AND NOTIFY APPLICANT'S FUI_L NAME AND ADDRESS.

+1ORIGINAL PLUS 3COPIES OF CERTIFICATE OF ORIGIN ISSUED OR

LEGALIZED BY THE CHAMBER OF COMMERCE INDICATING ORIGIN

OF THE GOODS

+3ORIGINAL PLUS 3COPIES OF PACKING LIST

+FULL SET AT LEAST IN 2ORIGINAL, 3COPIES OF INSURANCE

POLICY BLANK ENDORSED FOR THE CIF INVOICE VALUE PLUS 10

PERCENT COVERING ALL RISKS,INSTITUTE CARGO CLAUSES (A)

WAR RISKS INSTITUTE WAR CLAU,SES (CARGO) S. R. AND C. C. AND

N. D. AND T. P. FROM WAREHOUSE TO WAREHOUSE INDICATING

CLAIMS PAYABLE IN ISTANBUL IN THE CURRENCY OF THE CREDIT

AND SHOWING THE PREMIUM PAID.

+1ORIGINAL PLUS 1COPY OF INSPECTION CERTIFICATE ISSUED BY

SGS

47A:Additional Conditions:

+ALL DOCS WILL BE SENT TO OUR BANK'S ADDRESS: YAPI VE

KREDI BANKASI A. S. H/O BANKACILIK USSU, INVENTUS 1DIS

ISLEMLER MERKEZI, AKSE MAH. SEHIT ILHAN KUCUKSOLAK

CAD. 241435, CAYIROVA, KOCAELI TURKEY BY ANY SPECIAL

COURIER SERVICE.

+ALL DOCUMENTS SHOULD BEAR OUR DOCUMENTARY CREDIT

NUMBER.

+USD 100DISCREPANCY FEE, FOR EACH SET OF DOCS WILL BE

DEDUCTED FROM PROCEEDS,IF DOCUMENTS PRESENTED WITH THE

DISCREPANCIES.

+ ALL DOCUMENTS MUST BE ISSUED IN ENGLISH EXCEPT

PREPRINTED FORMS.

+IF THE DUE DATE COINCIDES WITH A NATIONAL HOLIDAY AND

NON-BANKING DAY IN TURKIYE AND/OR IN THE COUNTRY OF THE

REIMBURSEMENT BANK DUE DATE WILL BE POSTPONED TO THE

NEXT.

+DOCUMENTS ISSUED OR DATED PRIOR TO THIS DOCUMENTARY

CREDIT ISSUANCE DATE NOT ACCEPTABLE.

71B: Charges :

ALL BANKING COMMISSIONS AND CHARGES OUTSIDE OF TURKEY

INCLUDING REIMBURSMENT CHARGES ARE FOR BENEF'S ACCOUNT.

48: Period for Presentation:

10DAYS AFTER B/L DATE

49: Confirmation Instructions :

WITHOUT

78: 1nstructions to the Paying / Accepting / Negotiating Bank:

UPON PRESENTATION OF CREDIT CONFORM DOCS TO YOUR BANK, YOU

ARE AUTHORIZED TO CLAIM REIMBURSMENT FROM REIMBURSING BANK

FOR DOCUMENTS AMOUNT ONLY THREE WORKING DAYS BEFORE THE

VALUE DATE UNDER ADVICE TO US BY TESTED MSG QUOTING OUR

REFERENCE.

72: Sender to Receiver Information:

PLS ACK RECEIPT

补充材料：

INV. NO. : HS1151231 INV. DATE: MAY 28, 2011

B/L. NO. : MASA20079 B/L. DATE: JUN. 10, 2011

S/C NO. : BS-WBA110 S/C DATE: 110415

NAME OF STF, AMF, R: MASA V. 007W CONTAINER & SEAL NO. :

AEMU24485971/

SHIPPING MARKS: GAMA/IZMIT AEMG4374508

POLICY NO. :WEH3457392

FOB VALUE: USD 124 100 FREIGHT CHARGES: USD 700. 00INSURANCE PREMIUM:USD 200. 00

GOODS:TOTAL WEIGHT: GW: 101. 2MT NW:100MT MEA:98. 744CBMS

PACKED IN 10BAGS

H. S. NO. : 55069000

CERTIFICATE OF ORIGIN NO. : 09SL212345

二、根据上述相关资料缮制下列有关单证

1．商业发票

2．装箱单

3．原产地证书

4．保险单

5．提单

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第6题

Temporary Certificates of Inspection are effective until the ______.A.SOLAS Certificate is

Temporary Certificates of Inspection are effective until the ______.

A.SOLAS Certificate is issued

B.Loadline Certificate is renewed

C.classification society approval is issued

D.permanent Certificate of Inspection is issued

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第7题

A．a security signed by the issuer who promises to payB．a security issued by the credit

A．a security signed by the issuer who promises to pay

B．a security issued by the creditor who instructing the debtor to pay

C．a security issued by the bank who promises to pay

D．none of the above

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第8题

A certificate of deposit （CD) is issued by a depository- institution（56) that the holder h

A certificate of deposit (CD) is issued by a depository- institution (56) that the holder has deposited at the institution a certain mount of money for a certain period of time. By issuing a certificate of deposit, a bank, or (57) institution, gives its pledge to (58) the certificate at maturity and to pay a certain rate of interest for the use of the deposited funds.

Certificates of deposit are issued in several different forms. They may be negotiable or nonnegotiable, If a CD is negotiable it may be sold on the secondary market (59) to maturity. Usually only large CDs are issued in negotiable form. CDs may also be issued either in bearer or registered form. Negotiable CDs are usually always issued in bearer form. because of the ease with which ownership may be (60) .

(41)

A．evidence

B．fact

C．proof

D．prove

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第9题

The treasury issued an order stating that ______ land purchased from the government had to

be paid for in gold or silver.

A．henceforth

B．moreover

C．whereby

D．however

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第10题

The International Oil Pollution Prevention （IOPP) Certificate required by MARPOL is issued

The International Oil Pollution Prevention (IOPP) Certificate required by MARPOL is issued to CHINA flag ships by the ______.

A.International Maritime Organization

B.MSA OF CHINA

C.CCS

D.Environmental Protection Agency

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第11题

An 8% $30 million convertible loan note was issued on 1 April 20X5 at par. Interest is

A.$5,976,000

B.$1,524,000

C.$324,000

D.$9,000,000

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