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Explain effect on equity and impact on financial statements

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Reference no: EM132879141

Shoppers Ltd ("Shoppers") is a diversified listed Australian company. Shoppers will issue 200,000 bonds on 1 July 2021. The bonds will have an issue price of $98, a face value of $100 at their maturity date on 1 July 2026 and a coupon rate of 1.75%. Shoppers will incur $150,000 of legal fees and underwriting costs on 1 July 2021 to issue the bonds. In accordance with Shoppers Corporate Finance Model, the bonds will not be used for derivative purposes nor repaid before their 1 July 2026 maturity date.

Problem 1: Explain their effect on equity and their impact on financial statements.

Reference no: EM132879141

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