help me please! CP10-4 (Algo) Comparing Bonds Issued at Par,...
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CP10-4 (Algo) Comparing Bonds Issued at Par, Discount, and Premium [LO 10-3] Sikes Corporation, whose annual accounting period ends on December 31 , issued the following bonds: Date of bonds: January 1,2021 Maturity amount and date: $130,000 due in 10 years (December 31,2030 ) Interest: 10 percent per year payable each December 31 Date issued: January 1,2021 Required: 1. For each of the three independent cases that follow, provide the amounts to be reported on the January 1, 2021, financial statements immediately after the bonds are issued. TIP: See:Exhibit 10.6:for an illustration distinguishing Bonds Payable from their carrying value. (Deductions should be indicated by a minus signi) EXHIBIT 10.6 Balance Sheet Reporting of Bond Liabilities
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