39. The following amounts of debt were outstanding at the reporting date, 31 December 2015: Medium-term...
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39. The following amounts of debt were outstanding at the reporting date, 31 December 2015: Medium-term loan (see above) 800,000 Bank overdraft*** A 10%, 7-year note dated 1 October 2000 with Simple interest payable annually at 31 December 9,000,000 ***the weighted average amount outstanding during the year was GHS750,000, and total interest charged by the bank amounted to GHS33,800 for the year. Calculate the amount of borrowing costs to be capitalized. 1,200,500 40. Extra Ltd owns a building in Accra which it has been using as a head office. In order to reduce costs, on 30 June 2009, it moved its head office functions to one of its production centres in Kasoa, and is now letting out its head office. Company policy is to use the fair value model for investment property. 9 The building had an original cost on 1st January 2000 of GHC 250,000 and was being depreciated over 50 years. At 31st December 2009, its fair value was judged to be GHC 350,000. How will this appear in the financial statements at 31st December 2009? 39. The following amounts of debt were outstanding at the reporting date, 31 December 2015: Medium-term loan (see above) 800,000 Bank overdraft*** A 10%, 7-year note dated 1 October 2000 with Simple interest payable annually at 31 December 9,000,000 ***the weighted average amount outstanding during the year was GHS750,000, and total interest charged by the bank amounted to GHS33,800 for the year. Calculate the amount of borrowing costs to be capitalized. 1,200,500 40. Extra Ltd owns a building in Accra which it has been using as a head office. In order to reduce costs, on 30 June 2009, it moved its head office functions to one of its production centres in Kasoa, and is now letting out its head office. Company policy is to use the fair value model for investment property. 9 The building had an original cost on 1st January 2000 of GHC 250,000 and was being depreciated over 50 years. At 31st December 2009, its fair value was judged to be GHC 350,000. How will this appear in the financial statements at 31st December 2009?
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Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
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