Butter Co issues 50m 6% preference shares at par on 1/1/20X0. The shares carry a...
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Butter Co issues 50m 6% preference shares at par on 1/1/20X0. The shares carry a contractual obligation to be redeemed at a 10% premium in 5 years time. According to IFRS Standards how should the shares be initially recognised in the financial statements on 1/1/20X0?
As a financial liability of 55m
As a financial liability of 50m
As an equity instrument of 55m
As an equity instrument of 50m
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