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Please complete all parts. Thank you! On January 1. 2018. Reese Incorporated issued bonds with a face value of $160.000, a stated rate of interest
Please complete all parts. Thank you! On January 1. 2018. Reese Incorporated issued bonds with a face value of $160.000, a stated rate of interest of 8 percent, and a five- year term to maturity. Interest is payable in cash on December 31 of each year. The effective rate of interest was 7 percent at the time the bonds were issued. The bonds sold for $166.560. Reese used the effective interest rate method to amortize bond premium. Required a. Prepare an amortization table. b. What item(s) in the table would appear on the 2020 balance sheet? c. What item(s) in the table would appear on the 2020 income statement? d. What item(s) and amount in the table would appear on the 2020statement of cash flows (Direct Method) and under what section the bond liability appear? (For all requirements, Round Intermedlate colculations and final answers to the nearest whole dollar amount.) Complete this question by entering your answers in the tabs below. Req B to D Prepare an amortization table. Interest Premium Carrying Cash nt E January 1, 2018 December 31, 2018 December 31. 2010 December 31. 2020 December 31. 2021 Deoember 31, 2022 Totals 188,560 1.141 165,419 11,650 04,000 57.430 6.560 Req B to D On January 1, 2018, Reese Incorporated issued bonds with a face value of $160,000, a stated rate of interest of 8 percent, and a five- year term to maturity. Interest is payable in cash on December 31 of each year The effective rate of interest was 7 percent at the time the bonds were issued. The bonds sold for $166.560. Reese used the effective interest rate method to amortize bond premium. Required a. Prepare an amortization table. b. What item(s) in the table would appear on the 2020 balance sheet? c. What item(s) in the table would appear on the 2020 income statement? d. What items) and amount in the table would appear on the 2020statement of cash flows (Direct Method) and under what section the bond liability appear? (For all requlrements, Round Intermedlate calculations and final answers to the nearest whole dollar amount.) Complete this question by entering your answers in the tabs below. Reg A Req Bto b. What item(s) in the table would appear on the 2020 balance sheet? c. What item(s) in the table would appear on the 2020 income statement? d. What item(s) and amount in the table would appear on the 2020 statement of cash flows (Direct Method) and under what section the bond liability appear Show les b Carrying value Bond Liablities C Req A
Please complete all parts. Thank you!
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