Question: M10-9 Computing and Reporting a Bond Liability Issued at a Discount [LO 10-3] E-Tech Initiatives Limited plans to issue S500,000, 10-year, 6 percent bonds. Interest

M10-9 Computing and Reporting a Bond Liability Issued at a Discount

M10-9 Computing and Reporting a Bond Liability Issued at a Discount [LO 10-3] E-Tech Initiatives Limited plans to issue S500,000, 10-year, 6 percent bonds. Interest is payable annually on December 31. All of the bonds will be issued on January 1, 2016. Show how the bonds would be reported on the January 2, 2016, balance sheet if they are issued at 99. (Negative amounts should be indicated by a minus sign.) E-TECH INITIATIVES LIMITE Balance Sheet (partial) As of December 31, 2015 Carrying Value

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