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CP1O 4 Comparing Bonds Issued at Par, Discount, and Premium ILO 10-3] Sikes Corporation, whose annual accounting period ends on December 31, issued the following bonds Date of bonds: January 1, 2015 Maturity amount and date: $240,000 due in 10 years (December 31, 2024) Interest 10 percent per year payable each December 31 Date issued January 1, 2015 Required: 1. 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 are issued. TIP: See Exhibit 10.5 for an illustrašon distinguishing Bonds Payable from their carrying value. (Negative amounts should be indicated with a minus sign.) January 1,2015-Financial statements: issued at 100) (at 97) Case A Case B Case C (at 101) a. Bonds payable b Unamortized premium (or discount) | Carrying value

Solution

Table :

	January 1,2015-Financial statements	Case A (issued at 100)	Case B (at 97)	Case C (at 101)
a.	Bonds payable	240000	240000	240000
b.	Unamortized premium (or discount)	0	-7200	2400
c.	Carrying value	240000	232800	242400