Xuan Xuan current salary is $79000 per anum. it is expected that her salary will increase at the forecast inflation rate of 3% per annum. Xuan Xuan Joined ABC Ltd on 1 July 2017. All employees of the ABC Ltd are entitled to a 13-week long service leave when they complete 10 years of service. The discount rate for high quality corporate bonds with 3 years and 7 years to maturity is 6% and 8% respectively, and the likelihood of Xuan Xuan staying with the company until 30 June 2027 is 35%. Calculate the provision required for long service for Xuan Xuan at 30 June 2020?

Godo

Toefungus Ltd. issued $8,000,000 face value bonds, with an interest rate of 4.0 %, on July 1, 2020. The bonds mature in seven years time, on July 1, 2027 and pay interest semi-annually on July 1 and January 1. The company’s financial advisors have indicated that the yield the market is expecting to receive on their investment is 3.5 %. Toefungus Ltd. has a December 31 year end for financial and tax reporting and uses straight line amortization for allocating premium or discount. Required: a. Calculate the issue price for the bond. Show all steps and calculations. b. Prepare all journal entries required to account for bond transactions during the first full year the bond is outstanding. c. Clearly disclose all information related to this bond that would appear in the Company’s 2020 year-end financial statements.

GoldenSeal Pharmacy borrowed $630,000 on January 2, 2025, by issuing a 15% serial bond payable that must be paid in three equal annual installments plus interest for the year. The first payment of principal and interest comes due January 2, 2026. Complete the missing information. Assume bonds are issued at face value. (Complete all input fields. For accounts with a $0 balance, make sure to enter a 0 in the appropriate cell.) Current Liabilities: Bonds Payable Interest Payable Long-Term Liabilities: Bonds Payable 2025 December 31 2026 2027