At December 31, 2020, Splish Brothers Incorporated has a bond payable due September 1, 2021, with a carrying value of $1,948,000 (based on amortized cost) and a current value of $2,112,000. The interest payable as at December 31, 2020, is $82,000.

QUESTION:

A) Show how the above amounts should be presented on the December 31, 2020 SFP, and with the proper classifications. The company uses amortized cost.

Brief Exercise 14-23 At December 31, 2020, Splish Brothers Incorporated has a bond payable due September 1, 2021, with a carrying value of $1,948,000 (based on amortized cost) and a current value of $2,112,000. The interest payable as at December 31, 2020, is $82,000. Show how the above amounts should be presented on the December 31, 2020 SFP, and with the proper classifications. The company uses amortized cost. Splish Brothers Incorporated Statement of Financial Position (Partial)