I've also tried 1,5001,000 and 2,000. The 15,000 answer I got from here and it still shows as incorrect E-Tech Initiatives Limited plans to issue $500,000, 10-year, 4 percent bonds. Interest is payable annually on December 31. Allof the bonds will be issued on January 1, 2019. Show how the bonds would be reported on the January 2, 2019, balance sheetif they are issued at 97. (Deductions should be indicated by a minus sign.)X Answer is complete but not entirely correct.E-TECH INITIATIVES LIMITEDRectangular SnipBalance Sheet (partial)As of January 2, 2019Long-Term LiabilitiesBonds Payable2$500,000Discount on Bonds Payable1,500Carrying Value2$501,500 E-Tech Initiatives Limited plans to issue $500,000, 10-year, 4 percent bonds. Interest is payable annually on December 31. Allof the bonds will be issued on January 1, 2019. Show how the bonds would be reported on the January 2, 2019, balance sheetif they are issued at 97. (Deductions should be indicated by a minus sign.)Answer is complete but not entirely correct.E-TECH INITIATIVES LIMITEDRectangular SnipBalance Sheet (partial)As of January 2, 2019Long-Term LiabilitiesBonds PayableV IS500,000Discount on Bonds Payable15,000 XCarrying Value515,000

E-Tech Initiatives limited Balance Sheet (partial) As of January 2,2019 Long term Liabilities…

E-Tech Initiatives Limited plans to issue $500,000, 10-year, 4 percent bonds. Interest is payable annually on December 31. All of the bonds will be issued on January 1, 2019. Show how the bonds would be reported on the January 2, 2019, balance sheet if they are issued at 97. (Deductions should be indicated by a minus sign.) X Answer is complete but not entirely correct. E-TECH INITIATIVES LIMITED Rectangular Balance Sheet (partial) As of January 2, 2019 Long-Term Liabilities Bonds Payable 2$ 500,000 Discount on Bonds Payable 1,500 X Carrying Value 501,500

E-Tech Initiatives Limited plans to issue $500,000, 10-year, 4 percent bonds. Interest is payable annually on December 31. All of the bonds will be issued on January 1, 2019. Show how the bonds would be reported on the January 2, 2019, balance sheet if they are issued at 97. (Deductions should be indicated by a minus sign.) X Answer is complete but not entirely correct. E-TECH INITIATIVES LIMITED Rectangular Balance Sheet (partial) As of January 2, 2019 Long-Term Liabilities Bonds Payable 2$ 500,000 Discount on Bonds Payable 1,500 X Carrying Value 501,500

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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