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Annual interest rate on the bonds is 12%. In Transaction/Issue #6, on August 1st, World Series Inc recognized some interest expense and changed the value

Annual interest rate on the bonds is 12%. In Transaction/Issue #6, on August 1st, World Series Inc recognized some interest expense and changed the value of the outstanding bonds. Make sure the annual interest expense matches the bonds outstanding during the year, otherwise make an adjustment.

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Balance Sheet

cash asset box: -31, -15, -10, -9, -5, -3

Non-cash assets box 1: 3, 5, 9, 10, 15, 31

Non-cash assets box 2: Bonds payable, Interest expense, Interest payable, Prepaid Interest, Retained earnings

Liabilities box 1: 3, -5, 9, 10, 15, 31

Liabilities box 2: Bonds payable, Interest expense, Interest payable, Prepaid Interest, Retained earnings

contrib capital box 1: 3, 5, 9, 10, 15, 31

contrib capital box 2: Bonds payable, Interest expense, Interest payable, Prepaid Interest, Retained earnings

earned capital box 1:-31, -15, -10, -9, -5, -3, 3, 5, 9, 10, 15, 31

earned capital box 2: Bonds payable, Interest expense, Interest payable, Prepaid Interest, Retained earnings

Income Statement

revenues box 1: 3, 5, 9, 10, 15, 31

revenues box 2: Interest expense, Interest income, interest payable, prepaid interest, retained earnings

expenses box 1: 3, -5, 9, 10, 15, 31

expenses box 2:Interest expense, Interest income, interest payable, prepaid interest, retained earnings

net income: -31, -15, -10, -9, -5, -3, 3, 5, 9, 10, 15, 31 image text in transcribed

Balance Sheet: Income Statement: Balance Sheet: Income Statement

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