A financial instrument is ‘any contract that gives rise to a financial asset of one enterprise and a financial liability or an equity instrument of another enterprise. Consider the following transactions in the books of GodLove Ltd. i. GodLove Ltd. made an investment in a bond issued by Bail Ltd. on 1st February, 2019. This bond cost GH¢10 million (equal to its par value) and entitles GodLove Ltd. to 8% interest per annum. The principal is to be returned on 31st January 2025. It is the intention of GodLove Ltd. to retain the bond in order to collect the contracted cash flows on the due dates. ii. On 1st January, 2019, GodLove Ltd. issued 10,000 6% convertible bonds at par of GH¢100. Each bond is redeemable at par or convertible into four shares on 31st December 2020. Interest is payable annually in arrears. The market rate of interest for similar debt without the conversion option is 8%. iii. GodLove Ltd. issued 300,000 new ordinary shares which had a fair value of GH¢5 per share for cash. iv. GodLove Ltd. issues a 5-year bonds for total proceeds of GHC70,000 and incurs transaction costs of GH¢500 in issuing the bonds. Required Demonstrate whether the above transaction from (i to v) falls under financial asset, financial liability or equity instrument. How will you subsequently measure each of the transactions?