(Solved): Sikes Corporation, whose annual accounting petiod ends on December 31 , issued the following bonds: ...

Sikes Corporation, whose annual accounting petiod ends on December 31 , issued the following bonds: Date of bonds: January 1, 2021 Maturity amount and date: $\$240,000$ due in 10 years (December 31,2030 ) Interest: 10 percent per year payable each December 31 Date issued: January 1, 2021 Required: 1. For each of the three independent cases that follow, provide the amounts to be reported on the January 1, 2021, financial statements immediately after the bonds are issued. TIP: See Exhibit 10.6 for an illustration distinguishing Bonds Payable from their carrying value. (Deductions should be indicated by a minus sign.)