Extact of published accounts from June 2010 paper
thats the only adjustment i can understand. can you help please
The 5% loan note was issued on 1 April 2009 at its nominal (face) value of $20 million. The direct costs of the issue were $500,000 and these have been charged to administrative expenses. The loan note will be redeemed on 31 March 2012 at a substantial premium. The effective fi nance cost of the loan note is 10% per annum. in TB interest of 500 for 5 months is shown.