Unformatted text preview: 3%. It any of the accounts failed to pay in full Advance plc agreed not to require Needy Ltd to repay this amount. A; A genuise sale with the cash received shown as reducing the accounts receivable balance 7- if the likelyhood of contingent liability is possible then the only disclosure required is an estimate of its financial effect and the possibility of any reimbursement A; False 8- Borrow LTD issed 1000 £100 5% convertible debenture at part on 1 january 2000. The debentures can either be converted into 50 ordinary shares per £100 of debentures oe be redeemed at par at any date from 1 january 2005.Interest is paid annually in arrears on 31 December. the interest rate on similar debentures without the conversion option is 7% The value of the equity proceed is A; 8200 9-...
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- Spring '10
- Balance Sheet, Hopeful Ltd, Advance plc