Leanley Co.issues $100,000 of 10-year,10% bonds on January 1,2016.
Required:
Determine the amounts (bonds payable,unamortized premium or discount,and bonds payable,net)that will be reported on a balance sheet prepared as of the date of issuance of January 1,2016 under each of the following assumptions:
Part a.The bonds are sold at 100.
Part b.The bonds are sold at 104.
Part c.The bonds are sold at 98.

Question

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The Answer of Leanley Co.issues $100,000 of 10-year,10% bonds on January 1,2016.
Required:
Determine the amounts (bonds payable,unamortized premium or discount,and bonds payable,net)that will be reported on a balance sheet prepared as of the date of issuance of January 1,2016 under each of the following assumptions:
Part a.The bonds are sold at 100.
Part b.The bonds are sold at 104.
Part c.The bonds are sold at 98.