Question

In: Accounting

3. Yıldırım A.Ş. On 1 October 2018, it issued bonds with a maturity of 200,000 TL...

3. Yıldırım A.Ş. On 1 October 2018, it issued bonds with a maturity of 200,000 TL and a 2-year maturity of 12%. All of the bonds were sold at nominal value. Interest payments will be made annually (30 September 2019, 30 September 2020).

REQUESTED:                                                                                                           20 points

Write the balances of the accounts related to this transaction as of 31.12.2018 and 31.12.2019 in the table below.

HPP.   ACCOUNT NAME BALANCES

NO

2018 2019

                                                                                                           DEBT          DUE          DEBT                  DUE

300 Bank Loans

303 Long Term Assist. Mother. Installments and Interests

304 Bonds Principal Debt Installment and Interests

305 Issued Bonds and Bills

308 Securities Issuance Differences

381 Expense Accruals

400 Bank Loans

405 Issued Bonds

408 Security Issue Difference

780 Financing Expenses

Solutions

Expert Solution

Working Note-

1. 12% Bonds Issued on 1st October 2018.

interest upto 31.12.2018 for 3 months = 200000 TL * 12% *3/12 =6000 TL

Interest are paid annually on 30th sept 2019 and 30th sept 2020 =200000*12% =24000

Date Opening(A) interest@12%(B) Paid(c) Closing Balance(A+B-C)
1st Oct.2018 200000 issued ----- ---- 200000 (1st Oct 2018)
31 st Dec 2018

200000

(1st Oct 2018)

=200000*12%*3/12

=6000

 ----- 206000 (31.12.2018)
30 th Sept 2019

206000

(31st Dec 2018)

=200000*12%*9/12

=18000

 24000 200000 (30th Sept 2019)
31st december 2019

200000

(30th Sept 2019)

=200000*12%*3/12

=6000

 --- 206000( 31 st Decemebr 2019)
30th sept 2020

206000

(31 st december 2019)

=200000*12%*9*12

=18000

 24000 200000 (30 th september 2020)
30th september 2020 200000 ---- 200000 nil
Particulars 31.12.2018 31.12.2019
DEBT DUE DEBT DUE
300 Bank Loans --- ---- ---- ---
303 Long Term Assist. Mother. Installments and Interests ---- ---- ----- ----
304 Bonds Principal Debt Installment and Interests 200000(Principal) 6000(interest) 200000(principal) 6000 (interest)
305 Issued Bonds and Bills 200000 --- 200000 ---
308 Securities Issuance Differences --- ---- --- ---
381 Expense Accruals ---- --- --- ---
400 Bank Loans ---- ---- ---- ---
405 Issued Bonds 200000 --- 200000 ---
408 Security Issue Difference --- --- ---- ---
780 Financing Expenses --- 6000 (interest) ---- 6000(interest)

ekkarill92 answered 1 year ago
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