Question
Antalya Inc. on January 1, 2020, issued $1,000,000 face value, 5-year bonds with a stated rate of 5% at an effective rate of 4% which
Antalya Inc. on January 1, 2020, issued $1,000,000 face value, 5-year bonds with a stated rate of 5% at an effective rate of 4% which brought in $1,044,913. Interest is paid semi-annually on July 1 and December 31. The company uses the effective-interest method of amortization. How would you prepare the amortization table? Show all the necessary calculations! Preferred shares, 30,000 shares authorized, 7,500 shares issued $ 393,750 Common shares, 200,000 shares authorized, 135,000 shares issued 607,500 Total share capital $1,001,250 Retained earnings 218,500 Total shareholders' equity $1,219,750
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