Question
Myriad Solutions, Incorporated issued 10% bonds, dated January one, with a face amount of 320 million dollars on January one 2016 for $283,294,720. the Bonds
Myriad Solutions, Incorporated issued 10% bonds, dated January one, with a face amount of 320 million dollars on January one 2016 for $283,294,720. the Bonds mature on December 31st 2025. for bonds of similar risk of maturity the market yield is 12%. Interest is paid semi-annually on June 30th and December 31st.
1. what would be the net amount of the liability Myriad would report on its balance sheet at December 31st 2016? 2. what would be the amount related to the bonds that Myriad would report in its income statement for the year ended December 31st 2016? 3. what would be the amount related to the bonds that Mariette would report in its statement of cash flows for the year ended December 31st 2016?
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