Define the financial statement effects

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Question: Bonds Payable: On January 1, 2014 ABC issued $800,000.00 of 20-year, 11% bonds for $739,814.81, yielding a market (yield) rate of 12%. Interest is payable semiannually on June 30th and December 31.

a. Confirm the bond issue price.

b. Indicate the financial statement effects using the template for

(1) bond issuance

(2) semiannual interest payable and discount amortization on June 30, 2014

(3) semiannual interest payment and discount amortization on December 31, 2014.

Reference no: EM132213999

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