QUESTION $1$

On $1$ January $2021,$ Jazlan Berhad issues at $100,000,000$ quoted loan notes to finance the company's new project. The par value is RM$1$ per unit. The loan notes are purchase by Madee Berhad. Madee Berhad at RM$74,523,000$ and it would like to hold the loan notes until its maturity date.

The loan notes carry a coupon interest rate of $2\%$ payable at the end of each year. The last payment of the coupon will be on $31$ December $2025.$ The effective interest rate is $8\mathrm{.}458\%.$

Required:

a$)$ Show the journal entries for Jazlan Berhad at $1$ January $2021.$

b$)$ Prepare the amortised cost table for Jazlan Berhad.

c$)$ Show the journal entries for Jazlan Berhad at $31$ December $2021.$

d$)$ Show the journal entries for Jazlan Berhad at $31$ December $2025.$

QUESTION $2$

On $1$ October $2024,$ Anees Berhad purchase RM$10$ million quoted bonds which carry a nominal interest $($coupon$)$ rate of $5\%$ per annum. The loan notes are redeemable on $30$ September $2028.$ The interest rate is $8\%.$ The company would like to hold the bonds until its maturity date. The financial year end of the company is $30$ September.

Required:

a$)$ Determine the carrying amount of the investment in bonds as at $30$ September $2025.$

b$)$ Assuming that Anees Berhad would only like to trade the bonds. Prepare the journal entries as at $30$ September $2025,$ if the market price of the bonds are RM$10\mathrm{.}5$ million.

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