Notes 13 and 14 for the financial statements of Emm Limited are shown below.

1. Provide examples of trade creditors and accruals.
2. Assume that there are no new loans (unsecured) during the year. What journal entries would have been made during the year?
3. The bank loan of $150 million in 2016 is repayable during 2017. What journal entry would be made with respect to long-term unsecured bank loans during the year?
4. Assume that a total of $6 million was paid in warranty costs during 2016. What was the warranty expense for 2016?
5. What would be included in the provision for employee leave entitlements? Why is it both a current and a noncurrent liability? What journal entry is made to increase this amount?

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Note 13. Creditors and borrowings Consolidated Current Trade creditors and accruals Loans - unsecured Bank loans - unsecured Amounts owing to controlled entities Noncurrent Promissory notes Loans - unsecured Bank loans - unsecured 2016 $000 231473 547 72 804 304 824 150 000 1160 305 437 456 597 2015 $000 217 868 64 262 282 130 115000 20970 150 000 285 970 2016 $000 75 394 64 000 217 126 356 520 150 000 970 300 000 114400 565 370 2015 $000 65 567 60 000 214624 340 191 115 000 20970 150 000 129 635 415 605