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Please tell me how the discount amortization and interest was calculated. I am confused on this part Myriad Solutions, Inc issued 10% bonds, dated January
Please tell me how the discount amortization and interest was calculated. I am confused on this part
Myriad Solutions, Inc issued 10% bonds, dated January 1, with a face amount of $320 million on January 1, 2016 for $283, 294, 720. The bonds mature on December 31, 2025 (10 years). For bonds of similar risk & maturity, the market yield is 12%. Interest is paid semiannually on June 30 & December 31. What would be the net amount of the liability Myriad would report in its balance sheet at December 31, 2016? What would be the amount related to the bonds that Myriad would report in its income statement for the year ended December 31, 2016? What would be the amount related to the bonds that Myriad would report in its statement of cash flows for the year ended December 31, 2016Step by Step Solution
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