On Jan 1, 2019, AML Company issued bonds. The compounding period is annually. AML reported the...
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On Jan 1, 2019, AML Company issued bonds. The compounding period is annually. AML reported the following items (all the items are related to this bond). From the balance sheet: 1-Jan-19 31-Dec-19 31-Dec-20 Bond payable 100,000 A N/A Premium on Bond payable 17,060 C E From the income statement: year 2019 year 2020 Interest expense 3,512 D From cash flow statement: year 2019 year 2020 cash interest payment 5,000 B Please calculate the values for (A) to (E). Please show the work. On Jan 1, 2019, AML Company issued bonds. The compounding period is annually. AML reported the following items (all the items are related to this bond). From the balance sheet: 1-Jan-19 31-Dec-19 31-Dec-20 Bond payable 100,000 A N/A Premium on Bond payable 17,060 C E From the income statement: year 2019 year 2020 Interest expense 3,512 D From cash flow statement: year 2019 year 2020 cash interest payment 5,000 B Please calculate the values for (A) to (E). Please show the work.
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