choose the best answer

Choose the BEST answer for each of the following questions by highlighting the ariswer. ( 2 makks each, 20 marks in lotal). 1. Danger Ltd issues $9 million in 12-year, 6%, semi-anniual coupon debentures. The rate of return required by the market is 10% per annum. What are the joumal entries to record the first and second payments of interest assuming that Buderup uses the effective-inferest method to amortise any discount or premium (rounded to the nearest dollar)? 2. Edgar Ltd issues $7 million in 6-year, 10%, semi-annual coupon debentures. The rate of return required by the market is 8% per annum. What is the journal entry to record the first payment of interest assuming using the effective-interest method to amortise any discount or premium (rounded to the nearest dollar)? a. b. c. d. 3. Gold Ltd is a manufacturing company with three subsidiaries. The following information relates to the goodwill account of Broadbeach Ltd for the year ended 30 June 2022. In accordance with AASB 136, what is the net effect of above goodwill accounts on the staternent of comprehensive income and statement of financial position of Broadbeach Ltd? a. b. c. d. 4. Palm Beach Ltd has a cash-generating unit (CGU) and has been assessed for impairment and it has determined an impairment loss of $100000. The following information relates to the assets as at 30 June 2022: In accordance with AASB 136 Impaiment of Assets what should be the carrying amount of builings as at 30 June 2022? a. $720,000 b. $760,000 c. $800,000 d. $900000 5. Carlos Ltd has the following information from an aged debtors listing for the current period. Based on experience in the industry, Carlos Ltd uses the following basis for estimating uncollectible amounts: Assuming that the current balance in the provision for doubtful debts is zero, what is the entry to record the provision for this period? What is the entry to record the writing off of a bad debt of $1000 When a debtor goes bankrupt