Chow TOW US OMGEWICHT CINCSTSTOS affected, select "No Entry" and leave the amount box blank. If the effect on a financial statement item is negative, le, a decrease, be sure to enter the answer with a minus sign. Remember: if a contra account is increased, it will have the effect of decreasing the corresponding financial statement item Balance Sheet Aset Liabilities eve Prepare a proper balance sheet presentation for January 1, 2017 Vasily Inc Walance Sheet (Partit January 1, 2017 Les 2. Identify and analyze the effect of the payment of interest on December 31, 2017 Accounts Sem How does this entry affect the accounting equation? If a financial statement item is not affected, select "No Entry" and leave the amount box blank. If the effect on a financial statement item is negative, ie, a decrease, be sure to enter the answer with a minus sign. Remember: if a contra account is increased, it will have the effect of decreasing the corresponding financial statement item. Round the amounts to the nearest whole dollar. Balance Sheet Equity Prepare a proper balance sheet presentation for December 31, 2017 Vasiline Balance Sheet Partial December 31, 2017 3. Why it was necessary for Vasily to issue the bonds for only $91,700 rather than $100,000? Because the of interest was greater than the price will have to be lower than the face value. the issuance CON Impact of a Discount Vasily Inc. sold 20-year bonds on January 1, 2017. The face value of the bonds was $100,000, and they carry a 9% stated rate of interest, which is paid on December 31 of every year. Vasily received $91,700 in return for the issuance of the bonds when the market rate was 10%. Any premium or discount is amortited using the effective interest method. Required: 1. Identify and analyze the effect of the sale of the bonds on January 1, 2017 Statement ) . How does this entry affect the accounting equation? If a financial statement item is not affected, select "No Entry and leave the amount box blank. Ir the effect on a financial statement item is negative, i.e, a decrease, be sure to enter the answer with a minus sign. Remember if a contra account is increased, it will have the effect of decreasing the corresponding financial statement item. Balance Sheet A Prepare a proper balance sheet presentation for January 1, 2017 Vasline Jay 1 2017 2. Identify and analyze the effect of the payment of interest on December 31, 2017 How does this entry affect the accounting equation? Ha financial statement item is not affected, select "No Entry and leave the amount box blank. If the effect on a financial statement item is negative, ie, a decrease, be sure to enter the answer with a minus sign. Remember: If a contra account is increased, it will have the effect of decreasing the corresponding financial statement Item. Round the amounts to the nearest whole dollar. Balance Sheet Sed boy Annet to outs Chow TOW US OMGEWICHT CINCSTSTOS affected, select "No Entry" and leave the amount box blank. If the effect on a financial statement item is negative, le, a decrease, be sure to enter the answer with a minus sign. Remember: if a contra account is increased, it will have the effect of decreasing the corresponding financial statement item Balance Sheet Aset Liabilities eve Prepare a proper balance sheet presentation for January 1, 2017 Vasily Inc Walance Sheet (Partit January 1, 2017 Les 2. Identify and analyze the effect of the payment of interest on December 31, 2017 Accounts Sem How does this entry affect the accounting equation? If a financial statement item is not affected, select "No Entry" and leave the amount box blank. If the effect on a financial statement item is negative, ie, a decrease, be sure to enter the answer with a minus sign. Remember: if a contra account is increased, it will have the effect of decreasing the corresponding financial statement item. Round the amounts to the nearest whole dollar. Balance Sheet Equity Prepare a proper balance sheet presentation for December 31, 2017 Vasiline Balance Sheet Partial December 31, 2017 3. Why it was necessary for Vasily to issue the bonds for only $91,700 rather than $100,000? Because the of interest was greater than the price will have to be lower than the face value. the issuance CON Impact of a Discount Vasily Inc. sold 20-year bonds on January 1, 2017. The face value of the bonds was $100,000, and they carry a 9% stated rate of interest, which is paid on December 31 of every year. Vasily received $91,700 in return for the issuance of the bonds when the market rate was 10%. Any premium or discount is amortited using the effective interest method. Required: 1. Identify and analyze the effect of the sale of the bonds on January 1, 2017 Statement ) . How does this entry affect the accounting equation? If a financial statement item is not affected, select "No Entry and leave the amount box blank. Ir the effect on a financial statement item is negative, i.e, a decrease, be sure to enter the answer with a minus sign. Remember if a contra account is increased, it will have the effect of decreasing the corresponding financial statement item. Balance Sheet A Prepare a proper balance sheet presentation for January 1, 2017 Vasline Jay 1 2017 2. Identify and analyze the effect of the payment of interest on December 31, 2017 How does this entry affect the accounting equation? Ha financial statement item is not affected, select "No Entry and leave the amount box blank. If the effect on a financial statement item is negative, ie, a decrease, be sure to enter the answer with a minus sign. Remember: If a contra account is increased, it will have the effect of decreasing the corresponding financial statement Item. Round the amounts to the nearest whole dollar. Balance Sheet Sed boy Annet to outs
