Bonds payable amount would be reported as follows in the financial statement | |||||||
Case A: If issued at 100 | |||||||
This mean bond are issued at par and thus there would be no discount or premium on bonds payable | |||||||
Bonds payable | $410,000 | ||||||
Unamortized premium (discount) | $0 | ||||||
Carrying value | $410,000 | ||||||
Case B: If issued at 98 | |||||||
This mean bond are issued at discount and thus there would be unamortized discount | |||||||
Bonds payable | $410,000 | ||||||
Unamortized premium (discount) | -$8,200 | 410000*2% | |||||
Carrying value | $401,800 | ||||||
Case C: If issued at 102 | |||||||
This mean bond are issued at premium and thus there would be unamortized premium | |||||||
Bonds payable | $410,000 | ||||||
Unamortized premium (discount) | $8,200 | 410000*2% | |||||
Carrying value | $418,200 | ||||||
Net Work Corporation, whose annual accounting period ends on December 31, issued the following bonds. Date...
Sikes Corporation, whose annual accounting period ends on December 31, Issued the following bonds: noints Date of bondst January 1, 2018 Maturity amount and date: $220.000 due in 10 years (December 31, 2027) Interest: 10 percent per year payable each December 31 Date Issued: January 1, 2018 eBook Required: 1. For each of the three independent cases that follow, provide the amounts to be reported on the January 1, 2018, financial statements immediately after the bonds are issued. TIP: See...
Sikes Corporation, whose annual accounting period ends on December 31, issued the following bonds: Date of bonds: January 1, 2018 Maturity amount and date: $120,000 due in 10 years (December 31, 2027) Interest: 10 percent per year payable each December 31 Date issued: January 1, 2018 Required: 1. For each of the three independent cases that follow, provide the amounts to be reported on the January 1, 2018, financial statements immediately after the bonds are issued. TIP: See Exhibit 10.5...
Sikes Corporation, whose annual accounting period ends on December 31, issued the following bonds: Date of bonds: January 1, 2018 Maturity amount and date: $260,000 due in 10 years (December 31, 2027) Interest: 10 percent per year payable each December 31 Date issued: January 1, 2018 Required: 1. For each of the three independent cases that follow, provide the amounts to be reported on the January 1, 2018, financial statements immediately after the bonds are issued. TIP: See Exhibit 10.5...
Sikes Corporation, whose annual accounting period ends on December 31, issued the following bonds: Date of bonds: January 1, 2018 Maturity amount and date: $200,000 due in 10 years (December 31, 2027) Interest: 10 percent per year payable each December 31 Date issued: January 1, 2018 Required: 1. For each of the three independent cases that follow, provide the amounts to be reported on the January 1, 2018, financial statements immediately after the bonds are issued. TIP: See Exhibit 10.5...
Sikes Corporation, whose annual accounting period ends on December 31, issued the following bonds: Date of bonds: January 1, 2018 Maturity amount and date: $150,000 due in 10 years (December 31, 2027) Interest: 10 percent per year payable each December 31 Date issued: January 1, 2018 Required: 1. For each of the three independent cases that follow, provide the amounts to be reported on the January 1, 2018, financial statements immediately after the bonds are issued. TIP: See Exhibit 10.5...
Sikes Corporation, whose annual accounting period ends on December 31, issued the following bonds: Date of bonds: January 1, 2018 Maturity amount and date: $180,000 due in 10 years (December 31, 2027) Interest: 10 percent per year payable each December 31 Date issued: January 1, 2018 Required: 1. For each of the three independent cases that follow, provide the amounts to be reported on the January 1, 2018, financial statements immediately after the bonds are issued. TIP: See Exhibit 10.5...
Sikes Corporation, whose annual accounting period ends on December 31, issued the following bonds: Date of bonds: January 1, 2018 Maturity amount and date: $150,000 due in 10 years (December 31, 2027) Interest: 10 percent per year payable each December 31 Date issued: January 1, 2018 Required: 1. For each of the three independent cases that follow, provide the amounts to be reported on the January 1, 2018, financial statements immediately after the bonds are issued. TIP: See Exhibit 10.5...
Sikes Corporation, whose annual accounting perlod ends on December 31, issued the following bonds: Date of bonds: January 1, 2018 Maturity amount and date: $250,000 due in 10 years (December 31, 2027) Interest: 10 percent per year payable each December 31 Date issued: January 1, 2018 Required: 1. For each of the three independent cases that follow, provide the amounts to be reported on the January 1, 2018, financial statements immediately after the bonds are issued. TIP: See Exhibit 10.5...
Net Work Corporation, whose annual accounting period ends on December 31, issued the following bonds: Date of bonds: January 1, 2018 Maturity amount and date: $360,000 due in 10 years (December 31, 2027) Interest: 12.5 percent per year payable each December 31 Date issued: January 1, 2018 January 1, 2018—Financial Statements: Case A (issued at 100) Case B (at 96) Case C (at 104) a. Bonds payable b. Unamortized premium (discount) c. Carrying value
Chapter 10 Homework 0 Sikes Corporation, whose annual accounting period ends on December 31, issued the following bonds 9 Date of bonds : January 1 2018 Maturity amount and date: $130,000 due in 10 years (December 31, 2027) Interest: 10 percent per year payable each December 31 Date issued: January 1. 2018 10 eBook Required: 1. For each of the three independent cases that follow, provide the amounts to be reported on the January 1, 2018, financial statements immediately after...