Question: no handwritten answer please, I can't read hand writings so please just type. thanks (a) On 3 September 2022, Debussy Ltd purchase 40,000 $1 listed

no handwritten answer please, I can't read hand writings so please just type. thanks

no handwritten answer please, I can't read hand writings so please justtype. thanks (a) On 3 September 2022, Debussy Ltd purchase 40,000 $1listed equity shares of Red Copper Lid at a price of $3per share. Transaction costs were $5,000. At the year-end of 30 June

(a) On 3 September 2022, Debussy Ltd purchase 40,000 $1 listed equity shares of Red Copper Lid at a price of $3 per share. Transaction costs were $5,000. At the year-end of 30 June 2023, these shares were trading at $3.50. Debussy Ltd holds an active trading portfolio and the shares in Red Copper Led are acquired principally for the purpose of short-term profit. Required: Provide necessary journal entries to account for initial and subsequent measurement of the share investment in Red Copper Led, in accordance with /FRS 9 / AASB 9 Financial Instruments (narrations are not required). . (b) Star Ltd issued 1 million convertible bonds on 1 July 2022. The bonds had a term of three years and were issued with a total fair value of $1 million which is also the par value. Interest is paid annually in arrears at a rate of 6% per annum. The holders are entitled to convert each $1,000 bonds at the par value into 200 ordinary shares of Star Led at contract maturity. Bonds without the conversion option attracted an interest rate of 9% per annum on 1 July 2022.Other information: PV of an annuity of $1 PV of $1 Years 6% 9% Years 6% 9% 3 2.6730 2.5313 3 0.8396 0.7722 4 3.4651 3.2397 4 0.7921 0.7084 Required (rounded to the nearest dollar): Provide appropriate journal entries to record: (1) the issue of the convertible bonds on 1 July 2022 (2) the payment of convertible bond interest on 30 June 2023 (3) the redemption of all convertible bonds on 30 June 2025 if not converted into ordinary shares (Narrations are not required).\flb} (1] the issue of the convertible bonds on 1 Juli,r 2022 (2] the payment of convertible bond interest on 30 June 2:323 (3] the redemption of all convertible bonds on 30 June 2025 it not converted into ordinary shares

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