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22 On January 1, 2018 when the effective interest rate was 12%, Philips Co. issued bonds with a maturity value of $200,000. The stated rate of interest is 12% and the bonds pay interest semi-annually. Philips Co. paid $2,000 in bond issue costs on this date. Under IFRS the bonds will be recorded on the January 1, 2018 balance sheet of Philips Co. at: 2.5 points (8 01:47:58 Multiple Choice $198,000 O $198.00 OS20,000 0 Cannot be determined based on the Information provided. 0 $202,000 29 Under international accounting standard IAS 17, a lessee may classify some assets held under leases as investment property which allows the lessee to: 2.5 points Multiple Choice (8 01:41:26 Avold recording depreciation expense for the assets. Account for such assets under operating leases. Oo oo Account for the assets using either historical cost or falr value. Use the higher of the Implicit or the incremental borrowing rate when computing the present value of the minimum lease payments. 22 On January 1, 2018 when the effective interest rate was 12%, Philips Co. issued bonds with a maturity value of $200,000. The stated rate of interest is 12% and the bonds pay interest semi-annually. Philips Co. paid $2,000 in bond issue costs on this date. Under IFRS the bonds will be recorded on the January 1, 2018 balance sheet of Philips Co. at: 2.5 points (8 01:47:58 Multiple Choice $198,000 O $198.00 OS20,000 0 Cannot be determined based on the Information provided. 0 $202,000 29 Under international accounting standard IAS 17, a lessee may classify some assets held under leases as investment property which allows the lessee to: 2.5 points Multiple Choice (8 01:41:26 Avold recording depreciation expense for the assets. Account for such assets under operating leases. Oo oo Account for the assets using either historical cost or falr value. Use the higher of the Implicit or the incremental borrowing rate when computing the present value of the minimum lease payments

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