The Square Foot GrillInc issued $ 169,000 of 10 year, percent bonds on January 1 Year 1, at 102 interest payable in cash annual on December The straight-line method is used for amortization

Check my work 7 05 Problem: Module 3 Textbook Problem 7 Learning Objective: 3-7 Using the straight-line method show how bonds issued at a premium affect financial statements The Square Foot Gew. In assued 5169.000 of 10 year 5 percent bonds on January 1 Year 1, at 102 interest is payable m cash annually on December 31. The straight line method is used for omonation Required a: Use a financial statements model like the one shown below to demonstrate how in the January 1 Year 1 bond issue and (2) the December 31, Yeart recognition of interest expense, including the amortization of the premium and the cash payment affects the company tinancial statements. Use for increase - for decrease, and if there is no effect leave the cell blank b. Determine the carrying value (face valueless discount or plus premium of the bond liability as of December 31 Yeart Determine the amount of interest expense reported on the Year income statement d. Determine the carrying value of the bond liability as of December 31, Year 2 e. Determine the amount of interest expense reported on the Year 2 income statement Complete this question by entering your answers in the tabs below. Regu use a financial statements model like the one shown below to demonstrate how (1) the January 1, Year 1, bonds and (3) the December 31 Year 1, recognition of interest expone, including the amortition of the premium and the cash payment affects the company's financial Module 3 Textbook Problems Help Save & Exit Sub Check my work 7 Complete this question by entering your answers in the tabs below. PA Registo 05 Use a financial statement model like the one shown below to demonstrate how (1) the January 1 Year 1, hand and the December Year 1. recognition of interest expens, including the amortization of the premium and the cash payment, affects the company's financial statements. Use for increase, for decrease, and if there is no effect, leave the cell blank (In the cash How column indicates whether the itom u an operating activity (OA), an Investing activity (UA), or a financing activity (VA) and if there is no affect leave the cell blank. Not all cells will require entry) Show less SQUARE FOUT GRILL, INC. Effect of Transactions on Financial Statements Balance Sheet Income Statement Stockholders Liabilities Revenue Expande Egally EV No Statement of Cash Flow Net come Assets + FA 1 21 21 Registo > 7. Complete this question by entering your answers in the tabs below. Reg A RoqB to E 0.5 points b. Determine the carrying valve (face value les discount or plus premium) of the bond liability as of December 31, Year 1: Determine the amount of interent expense reported on the Year 1 income statement d. Cetermine the carrying value of the bond liability as of December 31, Year 2 e. Determine the amount of interest expense reported on the Year 2 income statement Show less PU $ 151,762 b. Carrying value Your 1 Interest expense Year 1 d. Carrying value Year 2 e. Interest expense Year 2