The enterprise has decided to issue 5,000 bonds with a nominal value of 100 /Unit. He paid
Question:
The enterprise has decided to issue 5,000 bonds with a nominal value of 100 ₺/Unit. He paid the cost of 30.000 ₺ + 2.400 ₺ VAT related to the bond issuance to the intermediary institution through the bank. The brokerage house sold all of the bonds at a price of 91 ₺/unit. The brokerage house related to the sale made a commission deduction of 5 per thousand and transferred the remaining amount to the company's bank account. The bonds were issued on 01.09.2023, with a maturity of 3 years and annual interest payment. The interest rate is 30%. The income tax withholding rate is 15%.
Accordingly, record the correct bond issue entry to be made on 01.09.2023?
Governmental and Nonprofit Accounting
ISBN: 978-0132751261
10th edition
Authors: Robert Freeman, Craig Shoulders, Gregory Allison, Robert Smi