8. Use the following partial bond amortization schedule to answer the question. Given information: A corporation issues $100,000 of bonds on January 1, 2021. The bonds have a 10-year term and pay interest semiannually on June 30 and December 31 each year. What is the carrying value of the bonds as of December 31, 2021?

9. If bonds with a carrying value of $300,000 are retired before maturity at a cost of $320,000, is a gain or loss recorded by the issuer, and in which financial statement is the gain or loss reported?

10. Bonds with a face amount of $10,000,000 have a stated interest rate of 5%. The current market rate of interest is 6%. Will these bonds sell (issue) at a price that is less than, equal to, or more than $10,000,000? (Hint: You do not have to compute the issue price to answer this question; just use your understanding of the relationship between the stated interest rate and market interest rate.)

11. Bonds with a face amount of $10,000,000 have a stated interest rate of 7%. The current market rate of interest is 6%. Will these bonds sell (issue) at a price that is less than, equal to, or more than $10,000,000?

12. Theater Butter Popcorn issues 7%, 15-year bonds with a face amount of $60,000. The market interest rate for bonds of similar risk and maturity is 8%. Interest is paid semiannually. At what price will the bonds issue? Use Present Value tables to compute the answer.