Andrew has requested that you:
(a)write a memorandum to the board of directors of DGL explaining what bonds are, highlighting the advantages and risks of issuing bonds, and describe how they should be accounted for under NZ IFRS 9 Financial Instruments;
(b)prepare the amortisation schedule for the bonds in accordance with NZ IFRS 9 Financial Instruments (Andrew expects you to prepare the schedule on an Excel spreadsheet); and
(c)prepare the journal entries in respect of the bonds on 31 December 2020 and 1 January 2021.
Andrew has requested that you:
(a)prepare an effective interest schedule (Andrew expects you to prepare the schedule on an Excel spreadsheet); and
(b)prepare the journal entries, in accordance with NZ IAS 32 Financial Instruments: Presentation, to account for:
i.the issue of the above securities;
ii.the payment of interest on 31 December 2018 and 31 December 2019; and
iii.the settlement of the convertible notes liability and derecognition of the convertible notes option at maturity. Show all your workings.
(a)Determine the interest rate implicit in the lease.
(b)Prepare the lease payments schedule. Note: Andrew expects you to prepare the schedule using an Excel spreadsheet.
(c)Prepare the journal entries in the books of DGL for the years ended 31 December 2017 and 31 December 2018 (Hint: note that the executory costs are paid in advance).
(d)Determine how BLFCL should classify the lease. Note: give reasons for your answer, with reference to NZ IFRS 16 Leases.
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