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Statement of cashflow

This topic has 1 reply, 2 voices, and was last updated 10 years ago by John Moffat.

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October 10, 2015 at 3:39 pm #275784
Xairie
Member
- Topics: 41
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1.1.2013-31.12.2013(Acc period)
2012 2013
7%debentures – 250,000
On 1 may 2013 a $250,000 7% Debenture was issued, with interest to be paid in two equal half-yearly payments..
Dear Sir, What interest Expense and Interest Paid figures shall i take.. To me it should b $11667, but in the answers it is $8750.. Can u please explain how??No previous bal. was there on of debentures in 2012..
October 11, 2015 at 8:13 am #275838
John Moffat
Keymaster
- Topics: 57
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From the information you have typed, the interest expense in the Statement of profit or loss is 8/12 x 7% x 250,000 = 11,667
On the Statement of cash flows, the interest paid will be one half year payment which is 1/2 x 7% x 250,000 = 8,750
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