Business, 27.03.2020 01:19 dilly1190

On January 1, Year 1 Residence Company issued bonds with a $50,000 face value. The bonds were issued at face value. They had a 20 year term and a stated rate of interest of 7%. Which of the following shows how the bond issue will affect Residence’s financial statements on January 1, Year 1? Balance Sheet Income Statement Statement of Cash Flows Assets = Liab. + Equity Rev. − Exp. = Net Inc. A. NA = NA + NA NA − NA = NA (50,000) IA B. NA = NA + NA NA − NA = NA (50,000) FA C. 50,000 = 50,000 + NA NA − NA = NA 50,000 FA D. (50,000) = (50,000) + NA NA − NA = NA (50,000) IA

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On January 1, Year 1 Residence Company issued bonds with a $50,000 face value. The bonds were issued...

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