E-Tech Initiatives Limited plans to issue $550,000, 10-year, 3 percent bonds. Interest is payable annually on December 31. All of the bonds will be issued on January 1, 2019. Show how the bonds would be reported on the January 2, 2019, balance sheet if they are issued at 96. (Deductions should be indicated by a minus sign.) E-TECH INITIATIVES LIMITED Balance Sheet (partial) As of January 2, 2019 Carrying Value

Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter14: Financing Liabilities: Bonds And Long-term Notes Payable
Section: Chapter Questions
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E-Tech Initiatives Limited plans to issue $550,000, 10-year, 3 percent bonds. Interest is payable annually on December 31. All of the
bonds will be issued on January 1, 2019. Show how the bonds would be reported on the January 2, 2019, balance sheet if they are
issued at 96. (Deductions should be indicated by a minus sign.)
E-TECH INITIATIVES LIMITED
Balance Sheet (partial)
As of January 2, 2019
Carrying Value
Transcribed Image Text:E-Tech Initiatives Limited plans to issue $550,000, 10-year, 3 percent bonds. Interest is payable annually on December 31. All of the bonds will be issued on January 1, 2019. Show how the bonds would be reported on the January 2, 2019, balance sheet if they are issued at 96. (Deductions should be indicated by a minus sign.) E-TECH INITIATIVES LIMITED Balance Sheet (partial) As of January 2, 2019 Carrying Value
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