Reference no: EM131759215
Net Work Corporation, whose annual accounting period ends on December 31, issued the following bonds:
Date of bonds: January 1, 2014.
Maturity amount and date: $345,000 due in 10 years (December 31, 2023).
Interest: 9 percent per year payable each December 31.
Date issued: January 1, 2014.
Provide the following amounts to be reported on the January 1, 2014, financial statements immediately after the bonds were issued
January 1, 2014 Financial Statements: Part A Part B Part C
(Issued at 100) (96) (105)
(A) Bonds Payable
(B) Unamortized premium (or discount)
(C) Carrying value