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value: 4.66 points PB10-4 Comparing Bonds Issued at Par, Discount, and Premium [

ID: 2392050 • Letter: V

Question

value: 4.66 points PB10-4 Comparing Bonds Issued at Par, Discount, and Premium [LO 10-3] Marshalls Corporation completed a $570,000, 7 percent bond issue on January 1, 2015. The bonds pay interest each December 31 and mature 10 years from January 1, 2015 Required: For each of the three independent cases that follow, Provide the following amounts to be reported on the January 1, 2015, financial statements immediately after the bonds were issued: Case A (Issued at 100) Case B (at 98) Case C (at 102) January 1,2015-Financial statements a. Bonds Payable b. Unamortized Premium (or discount c. Carrying Value References eBook& Resources Worksheet Difficulty: 2 Medium PB10-4 Comparing Bonds Issued at Par, Discount, and Premium [LO 10-3] Leaning Objective: 10-03 Analyze and record bond liability transactions Check my work

Explanation / Answer

Answer

january 1,2015 - financial statements case A (issued at 100) case B (issued at 98) case C (issued at 102) a bonds payable 570000 570000 570000 b unamortized premium ( or discount ) 00 11400 11400 c carrying value 570000 558600 581400