Exercise 1 4 - 5 ( Algo ) Bonds; issuance; effective interest; financial statement effects [ LO
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Exercise Algo Bonds; issuance; effective interest; financial statement effects LO
Myriad Solutions, Incorporated issued bonds, dated January with a face amount of $ million on January for $
The bonds mature on December years
For bonds of similar risk and maturity the market yield is
Interest is paid semiannually on June and December
Required:
What would be the net amount of the liability Myriad would report in its balance sheet at December
What would be the amount related to the bonds that Myriad would report in its income statement for the year ended December
What would be the amounts related to the bonds that Myriad would report in its statement of cash flows for the year ended December
Note: Round your answers to the nearest whole dollar.
table Net liability reported,$ Interest Expense,$ Amount reported in Statement of Cash flows,,,Investing ActivitiesInvesting Activities
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