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  1. business
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  3. par inc owns 72.37% of sub corp. on january 1, yea

Par Inc owns 72.37% of Sub Corp. On January 1, Year 3, Sub purchased $107,281...

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Accounting

Par Inc owns 72.37% of Sub Corp. On January 1, Year 3, Sub purchased $107,281 face value of Par's 8.55% bonds for $89,041. On that date, Par's total bond liability consisted of $214,562 face-value bonds with an unamortized bond discount of $17,883. Interest payments are June 30 and December 31 each year. Straight-line method is used for bond amortization. Both companies have a Dec 31 year end. What amount would be shown on Par's Consolidated Statement of Financial Position under Bonds Payable on Dec 31, Year 3?

a.

$94,272

b.

$99,234

c.

$89,310

d.

$91,791

e.

$96,753

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