You are to draw up a statement of profit or loss for the year ending 31
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You are to draw up a statement of profit or loss for the year ending 31

You are to draw up a statement of profit or loss for the year ending 31 December 2015, and a statement of financial position as at that date from the following trial balance and details of Partido Ltd:

2. Explain what you understand by the accounting term 'loan notes' and indicate the circumstances under which a loan note issue would or would not be an appropriate form of financing.

Hint
Accounts & Finance In accounting and finance, a loan note denotes an extended form of a generic document from one party to another. It allows a borrower to obtain payments from a creditor, with an interest rate attached over a span of time. Loan notes are frequently delivered in lieu of cash at the payee's application...

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