On $15$ April $2021,$ Growth Realty Ltd purchased a piece of equipment worth $$200,000$ by accepting a $6-$month discounted bank bill. The bill has a face value of $$209,000$ and is due for settlement on $15$ October $2023.$

Required:

$($a$)$ State the items and amounts, if any, that would appear in each of Growth Realty Ltd$\text{'}$s financial statements on $30$ June $2023$ pertaining to the discounted bill. Provide your working process.

$($i$)$ Income statement items$)$ and amount$($s$)$:

$($ii$)$ Balance sheet items$)$ and amounts$)$:

$($ili$)$ Cash flow statement items$)$ and amount$($s$)$:

Answer rating: 100% (QA)

To determine the items and amounts appearing in each of Growth ... View the full answer